I am buying a right to buy a flat in Penley. How practical is it for me to do the conveyancing?

Leaving aside the complexities and merits of DIY conveyancing in Penley you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Penley.

I have been told that property searches are a common reason for delay in Penley conveyancing transactions. Is there any truth in this?

The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of hindrances during the legal transfer of property. Searches are not likely to feature in any holding up conveyancing in Penley.

Are there restrictive covenants that are commonly identified during conveyancing in Penley?

Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Penley. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

Over the last few months I have been searching for a ground for flat up to £235,500 and found one close by in Penley I like with amenity areas and station nearby, however it's only got 51 remaining years left on the lease. There is not much else in Penley in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?

If you need a home loan the remaining unexpired lease term may be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least twenty four months you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.

My wife and I have chosen a Penley conveyancing solicitor for our home move (first time buyers) and have noticed in the engagement letter that they are not covered by the Financial Conduct Authority. Should I be worried or is that usually the case with conveyancer?

We can't see why they should be. Most conveyancer don't lend money. They should be governed by the SRA, who dictate specific laws in relation to funds sitting on client account.