After much negotiation I have agreed a price on an apartment in Penryn. My financial adviser recommended their conveyancers. I paid an upfront payment of £150. Soon after, the lawyer contacted me to say that they were not on the Lloyds conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Lloyds panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
About to purchase flat in Penryn. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the UBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Penryn solicitor is on the UBS conveyancing panel.
After shopping around on the internet I have found a Penryn property lawyer having checked that they are on the Nationwide conveyancing panel. Does my lawyer arrange the survey of the property?
Nationwide will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nationwide will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Penryn surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Is it necessary to pay for insurance to cover chancel repairs when acquiring a house in Penryn?
Unless a previous purchase of the premises took place post 12 October 2013 you may expect conveyancing practitioners handling conveyancing in Penryn to remain recommending a chancel search and or insurance against a claim.
I'm purchasing my first flat in Penryn benefiting from help to buy. The developers would not budge the amount so I negotiated £7000 of extras instead. The sale representative told me not to tell my conveyancer about this deal as it will affect my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
In scouring the world wide web for the words on line conveyancing in Penryn it reveals numerous property lawyersin the vicinity. With so much choice what is the best way to find the right solicitor for me?
The ideal way of seeking the right conveyancer is through a personal referral, so ask colleagues and those you trust who have acquired a property in Penryn or a respected estate agent or financial adviser. Charges for conveyancing in Penryn differ, so it's a good idea to request a minimum of three quotes from different solicitors. Be sure to obtain confirmation that the fees are fixed.
I am looking at a two maisonettes in Penryn which have in the region of fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the property for a period of time. As a lease gets shorter the saleability of the lease deteriorates and it becomes more expensive to acquire a lease extension. For this reason it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this field.
Penryn Leasehold Conveyancing - Examples of Questions you should ask Prior to Purchasing
Best to be warned whether a new roof is being installed or some other significant cost is coming up that will be shared by the leaseholders and will materially impact the level of the service charges or necessitate a one off payment. How many of the leaseholders are in arrears for their service charge payments? How long is the Lease?