I went with a local solicitor for our conveyancing in Penrith yesterday. Reviewing the terms of engagement I seewe are liable for charges even if our purchase doesn't happen. Should I ditch them and use a web based conveyancing brokerage advertising no move no charge conveyancing in Penrith?
Generally there is a concession along the lines that if "No Completion No Fee" is available then the fee levels will generally be uplifted to cover the cases that do not go ahead. Do bear in mind that these promotions generally do not cover expenses for example Penrith conveyancing search expenses.
My home in Penrith is up for sale and I have a buyer. Will the property lawyer need to be on the Yorkshire BS conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Yorkshire BS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently currently.
My friend advised me that where I am buying in Penrith I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally included in the estimate for your Penrith conveyancing searches. It is a large document of about 40 pages, listing and setting out important information about Penrith around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Penrith Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Penrith Education with plans and statistics, Local Amenities and other useful data regarding Penrith.
The deeds to my property can not be found. The lawyers who dealt with the conveyancing in Penrith 5 years ago are no longer around. What do I do?
In today’s world there are duplicates made of almost everything, and your lawyer will know precisely where to look for all the appropriate documentation so you may purchase or dispose of your property without any difficulty. If duplicates are not available, your conveyancer can arrange cover in the form of insurance or indemnities against future claims on the premises.
How does conveyancing in Penrith differ for new build properties?
Most buyers of new build or newly converted property in Penrith come to us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is finished. This is because new home sellers in Penrith tend to acquire 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 property lawyers 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 accustomed to new build conveyancing in Penrith or who has acted in the same development.
I opted to have a survey carried out on a house in Penrith in advance of instructing solicitors. I have been told that there is a flying freehold overhang to the house. My surveyor has said that some lenders tend not grant a mortgage on this type of home.
It depends who your proposed lender is. Santander has different requirements from Halifax. Should you wish to telephone us we can investigate further via 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 Penrith. Conveyancing may be slightly more expensive based on your lender's requirements.