My fiance and I are looking to purchase a property in Penzance and have appointed a Penzance conveyancing firm. Within the last couple of days our lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Santander have this morning contacted us to inform me that they have now hit a problem as our Penzance lawyer is not on their approved list of lawyers. What do we do from here?
Where you are buying a property requiring a mortgage it is conventional for the purchasers' solicitors to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Penzance lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
There are plenty of conveyancing solicitors in Penzance but how do I know who's good?
Do not opt for the cheapest Penzance conveyancing quote. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I am helping my step-mother sell her flat in Penzance. Does the solicitor order an energy performance certificate or it is for the seller to coordinate?
Following the demise of HIPs, energy performance certificates became a compulsory part of selling a house. An EPC needs to be to hand before the property is marketed. This is not a task that solicitors normally organise. If you are using a Penzance conveyancing lawyer they may be willing to arrange energy performance certificates due to their relationships with long established Penzance providers
We had instructed solicitors locally in Penzance on the Barclays solicitor panel. They are now charging me a supplemental charge for handling the Barclays mortgage. Is this a supplemental conveyancing fee specified by Barclays?
As unfair as it may seem, as long as it’s in their Terms and Conditions or estimate then yes your conveyancing practitioner may charge a fee for this. This charge is not set by Barclays but by your Penzance conveyancer. Numerous firms on the Barclays panel will levy ’dealing with mortgage’ fee and others do not.
I've recently found out that there is a flying freehold element on a property I have offered on a fortnight ago in what should have been a straight forward, no chain conveyancing. Penzance is the location of the property. Can you offer any opinion?
Flying freeholds in Penzance are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Penzance you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Penzance may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
In searching the internet for the term on line conveyancing in Penzance it shows results of numerous solicitorslocally. With so much choice what is the best way to find the right property lawyer for my move?
The best way of seeking the right conveyancer is through a trusted testimonial, so enquire of friends and family who have purchased a property in Penzance or the local estate agent or mortgage broker. Fees for conveyancing in Penzance differ, so it's sensible to request at least three estimates from varying types of companies. Be sure to seek confirmation that the costs are guaranteed not to to be inflated.
My wife and I purchased a leasehold flat in Penzance. Conveyancing and Coventry Building Society mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Penzance who acted for me is not around. What should I do?
The first thing you should do is contact HMLR to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Penzance conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I bought a 1st floor flat in Penzance, conveyancing having been completed 7 years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Penzance with an extended lease are worth £191,000. The average or mid-range amount of ground rent is £55 per annum. The lease comes to an end on 21st October 2072
With 53 years remaining on your lease we estimate the premium for your lease extension to span between £27,600 and £31,800 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.