IfI was to acquire a straightforward housein Penge mortgage fee and have no survey and no conveyancing searches how much should I expect to to save on my conveyancing in Penge?
Any savings you would gain would be limited to the Penge conveyancing searches. The conveyancing practitioner is obliged to do the vast majority of work - money laundering, communicating with the vendors conveyancer, stamp duty return, register the property etc. A slight saving might be made by not needing to register a mortgage but it will not be significant.
I own a freehold residence in Penge but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Penge and has limited impact for conveyancing in Penge but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
I am buying a house and require a conveyancing solicitor in Penge who is on the Alliance & Leicester approved. Can you recommend a local firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Alliance & Leicester in certain locations such as Penge. We dont recommend any particular firm.
How does conveyancing in Penge differ for newly converted properties?
Most buyers of new build property in Penge contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is constructed. This is because new home sellers in Penge typically purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Penge or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a simple, chain free conveyancing. Penge is the location of the property. Can you offer any assistance?
Flying freeholds in Penge are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Penge you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Penge 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.
I need to appoint a conveyancing solicitor for my conveyancing in Penge. I've stumble upon a site which looks to be the ideal solution If it is possible to get all the legals done via email that would be ideal. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?