lenderpanel

Find a North Cave Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in North Cave? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your North Cave home move at risk of delay or failure.

Only LenderPanel.com provides a subset of authorised North Cave conveyancers for over 130 lenders.


Recently asked questions about conveyancing in North Cave

Unfortunately I am unable to travel far from North Cave. I would like to know the understand why all North Cave conveyancers aren't automatically on all mortgage company panels?

Lenders point to the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud every year.The removal of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its conclusions included recommendations for lenders to review their conveyancing panels, which triggered a major policy change in the sector. This resulted in mortgage companies removing a number of firms from their books of approved lawyers .

Finally the sale completed on my house in North Cave last July yet the purchaser is texting me to moan that her solicitor is waiting to hear from myconveyancer. What should have happened following completion?

Following your sale your lawyer should send the transfer deeds and all supplemental paperwork to the purchaser's lawyers. Where relevant, your solicitor must also send confirmation that the mortgage has been paid off to the purchasers solicitors. There are no post completion steps peculiar conveyancing in North Cave.

We wanted to use a property lawyer in North Cave for our home move. Our broker has since notified us that our bank Skipton Building Society won't deal with them. Why is this not regarded as unfair competition?

Mortgage Companies tend to imposes restrictions either the category or the amount of conveyancing firms on their member panel. A common example of such criteria being that a law practice must have two or more partners. As well as restricting the type of firm, some have reduced the amount of solicitor practices they allow to represent them. You should note that Skipton Building Society have no responsibility for the quality of advice provided by any member of Skipton Building Society Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of solicitor panels a few years ago even though there remains mixed views regarding the level of solicitor involvement in some of that fraud. Statistics from the Land Registry indicate that thousands of law firms, including some in or near North Cave only perform very few conveyances per annum.

My husband and I are first time buyers - agreed a price, but the estate agent has warned us that the seller will only issue a contract if we use their preferred lawyers as they are insisting on an ‘expedited deal’. My instinct tells me that we should use a local solicitor accustomed to conveyancing in North Cave

We suspect that the owner is unaware of this demand. If they want ‘a quick sale', alienating a serious buyer is likely to cause more damage than good. Speak to the vendors direct and explain that (a)you are keen to buy (b)you are ready to progress, with finances in place © you have nothing to sell (d) you wish to move quickly (e)however you are going to instruct your preferred North Cave conveyancing solicitors - not the ones that will provide their estate agent a commission or meet his conveyancing thresholds pre-set by senior management.

I own a leasehold house in North Cave. Conveyancing and Nationwide Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in North Cave who previously acted has long since retired. Do I pay?

The first thing you should do is contact HMLR to make sure that the individual claiming to own the freehold is in fact the new freeholder. It is not necessary to incur the fees of a North Cave conveyancing practitioner to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I inherited a basement flat in North Cave, conveyancing having been completed 4 years ago. How much will my lease extension cost? Similar properties in North Cave with over 90 years remaining are worth £216,000. The ground rent is £50 invoiced annually. The lease comes to an end on 21st October 2088

With only 69 years left to run we estimate the premium for your lease extension to be between £9,500 and £11,000 as well as costs.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.

Last updated

Find out more about how flying freehold can affect your the value of a property.