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Find a St Bees Conveyancing Solictior on Your Lender’s Panel

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

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Recently asked questions about conveyancing in St Bees

I am expecting a mortgage offer from Santander. I would like to use a Licensed Conveyancer in St Bees. Does the Santander Conveyancing panel exclude conveyancers regulated by the CLC?

The Santander approved solicitor list is, like many other lenders, associated to the CML or BSA, open to Licensed Conveyancers regulated by the CLC.

I have given 8 weeks notice to my existing landlord and must be out of my let out flat in St Bees by the end of next month. Conveyancing for my house purchase is underway. How realistic is it to complete in a couple of weeks as I wish to avoid having to find short term accommodation?

It is unwise to serve notice for your lease unless you have exchanged. If you have not previously done so, contact to your solicitor and urge them to they chase the sellers lawyers, try to a target completion date that all parties will work to achieve

My apartment in St Bees is up for sale and I have a purchaser. Will the conveyancer have to be required to be on the Bank of Ireland conveyancing panel in order to deal with repayment of my mortgage?

Ordinarily, even if your lawyer is not on the Bank of Ireland conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently at the moment.

Will commercial conveyancing searches disclose impending roadworks that could affect a commercial premises in St Bees?

Many commercial conveyancing solicitors in St Bees will order a SiteSolutions Highways report as it reduces the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in St Bees. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in St Bees.

For each commercial conveyancing transaction in St Bees it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately may result in delays to St Bees commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not carried out for residential conveyancing in St Bees.

I am attracted to a two apartments in St Bees which have approximately 50 years remaining on the lease term. Will this present a problem?

There is no doubt about it. A leasehold apartment in St Bees is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the salability of the premises. The majority of buyers and mortgage companies, leases with less than 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with St Bees conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I am the registered owner of a 1 bedroom flat in St Bees, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in St Bees with a long lease are worth £222,000. The average or mid-range amount of ground rent is £50 yearly. The lease finishes on 21st October 2092

With just 71 years remaining on your lease we estimate the price of your lease extension to range between £9,500 and £11,000 plus legals.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. 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 considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.

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