Various internet forums that I have visited warn that are the primary cause of delay in Penn conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not figure within the top 10 causes of delays in the conveyancing process. Local searches are not likely to feature in any delay in conveyancing in Penn.
I bought my home on 16 January and the transaction details are still not on the land registry website. Need I be worried? My conveyancing solicitor in Penn expressed confidence that it will be recorded in a couple of weeks. Are titles in Penn particularly slow to register?
There is nothing unique about conveyancing in Penn registration formalities. As opposed to being determined by geographic area, timeframes can differ subject to who lodges the application, whether there are errors and if the Land registry communicate with any 3rd persons or bodies. At present roughly three quarters of submission are completed within 12 days but some can be subject to extensive hold-ups. Registration takes place after the purchaser is living at the premises therefore post completion formalities is not usually an essential issue but where there is a degree of urgency associated with the registration then you or your conveyancer should communicate with the Registry to express the reasoning for an expedited registration.
Over the last few months I have been searching for a ground for flat up to £235,500 and found one round the corner in Penn I like with a park and railway links in the vicinity, the downside is that it's only got 51 remaining years left on the lease. I can't really find anything else in Penn suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a home loan the remaining unexpired lease term will be a potential deal breaker. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of twenty four months you can ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.
My husband and I are 14 days into a residential purchase having been directed to solicitors by the estate agent to execute conveyancing in Penn. I am not happy. Can you help me find new conveyancers?
A conveyancer would need to be really poor in order to consider diss instructing them. Has the loan offer been sent? If so you will need to make them aware of the new solicitor and get the mortgage documents are issued to the new lawyers. Your solicitor ideally should be on the lenders approved list to avoid escalating costs and complications. So that should be your starting point. The find a solicitor tool should assist you in finding a bank approved conveyancer for your home move in Penn
Back In 2005, I bought a leasehold house in Penn. Conveyancing and Platform Home Loans Ltd mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Penn who acted for me is not around. Any advice?
The first thing you should do is make enquiries of the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Penn conveyancing practitioner to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Penn Leasehold Conveyancing - Sample of Questions you should consider Prior to buying
In the main the outlay for major works are not included within service charges, although a few managing agents in Penn ask leasehold owners to pay into a sinking fund and this is used to offset against larger works. What restrictions exist in the Penn Lease?