we are a couple who wish to acquire a newbuild flat in Penrith with a mortgage from Barclays .We have a Penrith conveyancing lawyer but Barclays advised that he's not listed on their approved list of firms. It seems we have little choice but to instruct a Barclays panel firm or retain our local solicitor and fork out for one of their panel ones to act for them. This seems very unfair; Can we not simply insist that Barclays use our lawyer?
No, not really. The mortgage issued to you is subject to its various provisions, one of which will be that lawyers must be on the Barclays solicitor panel. in the past, most lenders had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Barclays
My wife and I have organised a further advance on our home loan from Nationwide as we wish to conduct renovations to our property in Penrith. Do we need to appoint a local Penrith solicitor on the Nationwide conveyancing panel to handle the paperwork?
Nationwide don't usually require firms on their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Nationwide panel.
I have today made my last payment due on my mortgage with Coventry BS. I assume I don't need a Penrith property lawyer on the Coventry BS panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Coventry BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Coventry BS mortgage from the register. Coventry BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Coventry BS has sent the Land Registry the discharge electronically, and
- Coventry BS has instructed the Land Registry to do so
My offer on a property in Penrith has been agreed to, but there is a chain. The owners have offered on somewhere, but it’s not yet agreed to, and are looking at other apartments booked. I have instructed a local conveyancing solicitor in Penrith. What do I do now? At what stage should I apply for the mortgage with Leeds Building Society?
It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is approx one thousand pounds, then survey, Penrith conveyancing search costs, etc). The first course of action is to check that your conveyancing practitioner is on the Leeds Building Society approved list. As to the next stages this very much depends on the circumstances of your transaction, motivation for the property and on the state of the market. During a hot market many buyers will apply for the mortgage with Leeds Building Society and pay for the valuation and only if it comes back ok would they ask their conveyancer to press on with the conveyancing in Penrith.
It has been three months since my purchase conveyancing in Penrith took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Having had my offer accepted I require leasehold conveyancing in Penrith. Before I set the wheels in motion I would like to find out the remaining lease term.
Assuming the lease is registered - and 99.9% are in Penrith - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I own a studio flat in Penrith, conveyancing formalities finalised in 2010. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Penrith with a long lease are worth £175,000. The average or mid-range amount of ground rent is £65 levied per year. The lease comes to an end on 21st October 2084
With only 58 years remaining on your lease we estimate the premium for your lease extension to be between £23,800 and £27,400 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.
How do I find the right lawyer for my conveyancing in Penrith ?
Option 1 is to ask the people you trust they would would seek assistance from. Option 2 is to look on the internet for conveyancing in Penrith. Telephone two or three from the list and request that they send you their conveyancing estimate and speak to the lawyer who will conduct your conveyancing before you make your decision. Option 3 is to use this site to assist you in finding the right lawyers for you based on your unique factors including location,speed, complexity and who the proposed lender is.Resist the temptation to appoint £99 conveyancing solicitors in Penrith