I am buying a leasehold flat in Penshaw. My property lawyer is not on the mortgage company approved panel. Can I still appoint my Penshaw conveyancing solicitor even though they are not on the lender list of approved lawyers?
Various options include
- Complete the purchase with your chosen Penshaw solicitor but your bank will need to retain a lawyer from their approved panel. The net result is additional charges together with likely delay.
- Choose a new lawyer to conduct the conveyancing, making sure they are on the bank conveyancing panel.
- Convince your conveyancer to pull out all the stops to get accepted on the lender’s conveyancing panel
Would the conveyancing solicitors via your comparison service handle attended exchange conveyancing in Penshaw?
There are a few conveyancing specialists who can conduct one day exchanges. Please e-mail us to get a fee calculation and details as to dates.
I had intended to instruct a conveyancing solicitor in Penshaw for our house move. Our broker has since notified us that our bank Godiva Mortgages Ltd won't deal with them. Why is this not regarded as unfair competition?
A bank can require a panel conveyancer act for it. Borrowers are liable to meet the cost of this. Try using our search facility to locate a solicitor to conduct conveyancing in Penshaw on the Godiva Mortgages Ltd approved list of solicitors.
I completed on my apartment on 3 November and the transaction details are still not on the land registry website. Any reason for this? My conveyancing solicitor in Penshaw advises it should be dealt with in a couple of weeks. Are properties in Penshaw uniquely lengthy to register?
As far as conveyancing in Penshaw is concerned, registration is no faster or slower than the rest of the country. Rather than based on location, timescales can differ subject to who lodges the application, whether it is in order and whether the Land registry must send notices to any other persons or bodies. Currently in the region of 80% of such applications are fully addressed in less than three weeks but occasionally there can be protracted delays. Historically registration is effected once the purchaser has moved in to the premises therefore registration formalities is not typically primary concern yet where it is urgent that the the registration takes place urgently then you or your conveyancer could speak with the land registry and explain the circumstances.
My wife and I purchased a leasehold flat in Penshaw. Conveyancing and The Royal Bank of Scotland mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Penshaw who acted for me is not around. Do I pay?
The first thing you should do is contact HMLR to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Penshaw conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I own a leasehold flat in Penshaw, conveyancing formalities finalised 5 years ago. How much will my lease extension cost? Comparable properties in Penshaw with an extended lease are worth £190,000. The ground rent is £65 charged once a year. The lease terminates on 21st October 2080
With 61 years left to run we estimate the premium for your lease extension to be between £19,000 and £22,000 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.