Am I correct in assuming that the fact that my solicitor in Porthleven is not listed on my lender's conveyancing panel that there is a problem with the quality of her work?
That is more than likely a wrong assumption to make. There are plenty of plausible explanations. A recent report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the Porthleven conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
We are a couple about to sign contracts for a garden flat in Porthleven. We encountered a problem. The loan offer with TSB expires on 4/2/2019 but the owners are insisting on a completion date of 6/2/2019. Can one prolong the loan offer?
The best person to deal with your concern is your conveyancer who will hopefully determine whether they corresponding with the lender, owner’s lawyers, property agents or indeed all parties given the history of your transaction as of today.
Why is leasehold purchase conveyancing in Porthleven is more expensive?
In summary, leasehold conveyancing in Porthleven and Cornwall usually involve extra due diligence compared to freehold conveyancing. This includes analysing the lease terms, communicating with the landlord about the service of appropriate notices, obtaining up-to-date service charge and management information, securing the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first entered into.
How does conveyancing in Porthleven differ for new build properties?
Most buyers of new build residence in Porthleven contact us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is constructed. This is because builders in Porthleven typically acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Porthleven or who has acted in the same development.
I decided to have a survey done on a property in Porthleven in advance of retaining solicitors. I have been told that there is a flying freehold element to the house. Our surveyor advised that some lenders tend not grant a loan on this type of house.
It depends who your proposed lender is. HSBC has different requirements for example to Halifax. If you contact us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Porthleven. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Porthleven to see if the conveyancing costs will increase in light of this.