Is it realistic for conveyancing in Cumberland to be done in less than two weeks?

First, If the seller is applying a tight deadline to sign contracts it is highly recommended that your solicitor is familiar with the location as they will benefit local contacts and knowledge. It is possible that they could have transacted previousproperties in the same neighbourhood. You would be best advised to use a Cumberland conveyancing solicitor. Second, make sure that the conveyancing firm is on the on the approved list for your mortgage company. It is claimed that 18% of Cumberland conveyancing deals are suspended or derailed after finding out that a purchaser’s conveyancer was not on their mortgage lender’s list of approved solicitors. This can often result in the conveyancing being held up by almost 21 days. It is understood that this issue impacts in the region of 100,000 home sales every year. Many Cumberland conveyancing practices can not represent certain lenders so do check at the outset.

I am downsizing from our home in Cumberland and according to the buyers it appears that there is a possibility that the property was built land that was not decontaminated. Any local lawyer would know that there is no such problem. It does beg the question why the purchasers used a web based conveyancing practice rather than a conveyancing solicitor in Cumberland. We have lived in Cumberland for 4 years we know that this is a non issue. Is it a good idea to contact our local Authority to seek clarification that there is no issue.

It would appear that you have a conveyancing solicitor currently acting for you. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)

I have been on the look out for a leasehold apartment up to £235,500 and identified one near me in Cumberland I like with a park and transport links in the vicinity, the downside is that it's only got 52 remaining years left on the lease. I can't really find anything else in Cumberland suitable, so just wondered if I would be making a grave error acquiring a short lease?

If you require a home loan the shortness of the lease will likely be problematic. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least twenty four months you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.

I was pointed in your direction by numerous estate agents in Cumberland to get a quote from a property lawyer on your site. Is there a financial inducement for Estate Agents to promote your services over a competitor’s?

We don’t give any financial incentive for sending work to this site. We found it would be just too difficult to pay a commission because members of the public would think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.

I today plan to offer on a house that appears to meet my requirements, at a reasonable price which is making it all the more appealing. I have subsequently discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Cumberland. Conveyancing advisers have are about to be appointed. Will they explain the issues?

The majority of houses in Cumberland are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can assist with the conveyancing process. It is clear that you are purchasing in Cumberland in which case you should be shopping around for a Cumberland conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the house is located on an estate. Your lawyer will report to you on the legal implications.

I bought a basement flat in Cumberland, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Cumberland with an extended lease are worth £195,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease expires on 21st October 2088

With just 64 years remaining on your lease we estimate the premium for your lease extension to be between £14,300 and £16,400 plus professional fees.

The figure 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 this information in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.