Do the Building Society Association intend to launch a searchable register to to identify solicitors on the Norwich and Peterborough Building Society conveyancing panel for example in Penzance?
We are not aware of any plans on the part of the BSA to promote such a search facility.
I am purchasing my first flat in Penzance with the aid of help to buy. The developers would not reduce the price so I negotiated £7000 of additionals instead. The sale representative advised me not disclose to my conveyancer about the extras as it will adversely affect my mortgage with Bank of Scotland. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I am looking for a ground for flat up to £235,500 and identified one round the corner in Penzance I like with amenity areas and station nearby, the downside is that it's only got 51 years unexpired on the lease. I can't really find anything else in Penzance suitable, so just wondered if I would be making a grave error 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 offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of twenty four months you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
Given that I am about to part with hundreds of thousands of pounds on a two bedroom apartment in Penzance I wish to have a conversation with the lawyer regarding thehome move ahead of giving the go ahead to the firm. Can this be arranged?
We could not agree more - we would be delighted to talk to you we do not take any clients on without you liaising with the solicitor due to be carrying out your conveyancing in Penzance.There is no ‘factory style conveyancing’ - each client is an important individual, not a matter number. The law firms that we put you in touch with believe that the fees you are provided with for residential conveyancing in Penzance should be the figure that you are charged.
Back In 2008, I bought a leasehold flat in Penzance. Conveyancing and Birmingham Midshires mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Penzance who acted for me is not around. Any advice?
The first thing you should do is contact HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to instruct a Penzance conveyancing firm to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Leasehold Conveyancing in Penzance - Examples of Queries before Purchasing
Does the lease have onerous restrictions? Can you inform me if there are any major works anticipated that could add a premium to the maintenance costs? The answer will be helpful as a) areas can result in problems in the block as the common areas may start to deteriorate if maintenance are not paid for b) if the tenants have a dispute with the managing agents you will need to have complete disclosure