What is the optimum way to find out if the solicitor handling my conveyancing in Penn is on the lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Nottingham Building Society thus paying £192.00 in further conveyancing costs.
You should take advantage of the search tool on this page. Please choose the lender and type ‘Penn’ or your preferred area and you will see a number of lawyer offices in Penn or nearest you.
Two weeks ago we had a mortgage agreed in principle with Bank of Ireland. Penn conveyancing solicitors are appointed. What is the average time that one could expect to receive a mortgage offer from Bank of Ireland?
There is no definitive answer here. Have Bank of Ireland completed the survey? Have you advised Bank of Ireland as to your lawyers' details and checked that your lawyers are on the Bank of Ireland conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have instructed a Penn solicitor having checked that they are on the RBS conveyancing panel. Does my lawyer arrange the survey of the property?
RBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually RBS 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. Your conveyancer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Penn postcode. As you are getting a mortgage with RBS, you could contact them to see if they have a list of approved surveyors in Penn.
Skipton have agreed my home loan in principle, my bid on a apartment in Penn has been accepted, now what?
The property agent will need to be advised as to your lawyer's details (ensure that the solicitors are on the lender’s approved list). Call up Skipton or your financial adviser and finish off any relevant documentation. Skipton will sellect a valuer who will get in touch with the estate agent or seller to schedule an appointment. Once conducted (assuming no problems) it takes about a week for the mortgage offer to be issued. Skipton will send the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Penn.
I require quick conveyancing in Penn as I have an ultimatum to sign on the dotted line within 4 weeks. A mortgage is not required. Is it possible to escape the need for conveyancing searches to save money and time?
If.Given you are not getting a mortgage you have the choice not to do searches although no law firm would suggest that you don't. Drawing on years of experience of conveyancing in Penn the following are examples of what can arise and adversely affect future saleability: Enforcement Actions, Overdue Fees, Outstanding Grants, Railway Schemes,...
Due to the guidance of my in-laws I had a survey completed on a property in Penn ahead of instructing conveyancers. I have been informed that there is a flying freehold aspect to the property. My surveyor has said that some lenders will refuse to give a loan on such a home.
It varies from the lender to lender. Bank of Scotland has different requirements from Halifax. If you e-mail us we can investigate further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Penn. Conveyancing may be slightly more expensive based on your lender's requirements.
Having had my offer accepted I require leasehold conveyancing in Penn. Before I get started I want to be sure as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and 99.9% are in Penn - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Penn Leasehold Conveyancing - Sample of Questions you should ask before buying
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On the whole the outlay for major works tend not to be incorporated into the service charges, albeit that a few managing agents in Penn require leasehold owners to pay into a sinking fund and this is used to offset against larger works. Please note if it is fewer than 80 years it will affect the value of the apartment. It is worth checking with your mortgage company that they are happy with residual term of the lease. A short lease means that you will almost definitely have to extend the lease sooner rather than later and you need to have some idea of what this will be. Remember, in most cases you would need to own the residence for a couple of years before you are eligible to extend the lease. The best form of lease structure is a share of the freehold. In this arrangement the leaseholders enjoy control and although a managing agent is usually retained if it is larger than a house conversion, the managing agent acts for the leaseholders themselves.
My husband and I hope to buy our first property in Penn. Conveyancing practitioner already appointed. The mortgage adviser suggested that a survey is not needed as the house was only built 16 yrs ago.
The bare minimum you need a Home Buyer's Report. Given the property was constructed more than a decade ago the property will not come with a warranty, so you would be well advised not to take a risk. For a property that age with no signs of problems a Home Buyer's report could be sufficient. The report should highlight any apparent issues and recommend further investigation if relevant. Where there are any indications of material issues get a full Building Survey from the beginning.