I am obtaining a mortgage offer from Halifax. I intend to employ the services of a Licensed Conveyancer in St Ives. Does the Halifax Solicitor panel exclude conveyancers regulated by the CLC?

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

My husband and I are nearing an exchange on a house in St Ives and my mum and dad have sent the 10% deposit to my lawyer. I am now told that as the deposit has been sent from someone other than me my conveyancing practitioner needs to disclose this to my mortgage company. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the mortgage company concerning my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?

The property lawyer is legally required to clarify with the bank to make sure that they know that the balance of the purchase price is not from your own resources. The solicitor can only disclose this to your lender if you agree, failing which, your lawyer must cease to continue acting.

I have been told that property searches are the primary reason for hinderance in St Ives conveyancing transactions. Is this right?

The Council of Property Search Organisations (CoPSO) has noted the findings of a review by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of hindrances in the conveyancing process. Local searches are not likely to be the root cause of slowing down conveyancing in St Ives.

Just bought a detached house in St Ives , how long should it take for the Land Registry to record my ownership? My St Ives conveyancing solicitor has been very slow, so I want to be sure the registration is concluded.

As far as conveyancing in St Ives registration is no quicker or slower than the rest of the country. As opposed to being determined by geographic area, timescales can differ according to who lodges the application, whether it is in order and if the Land registry have to notify any third parties. Currently roughly three quarters of such applications are completed in less than three weeks but some can be subject to protracted delays. Registration is effected once the purchaser is living at the property thus an expedited registration is not usually primary concern but if it is urgent that the the registration takes place urgently then you or your conveyancer must communicate with the Registry to express the reasoning for an expedited registration.

What makes a St Ives lease unacceptable for security purposes?

There is nothing unique about leasehold conveyancing in St Ives. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are erroneous. The following missing provisions could result in a defective lease:

Insurance obligations A provision to repair to or maintain parts of the property

A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Barnsley Building Society, and Bank of Ireland all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to withdraw.

I own a split level flat in St Ives, conveyancing formalities finalised 6 years ago. Can you work out an approximate cost of a lease extension? Similar properties in St Ives with over 90 years remaining are worth £165,000. The average or mid-range amount of ground rent is £50 levied per year. The lease ends on 21st October 2102

With just 77 years remaining on your lease the likely cost is going to range between £7,600 and £8,800 plus professional fees.

The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use this information 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. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.