My wife and I are purchasing a 1 bedroom apartment in Penwortham with a mortgage. We like our Penwortham conveyancer, but the mortgage company advise he's not on their "panel". We have to appoint one of the bank panel firms or retain our Penwortham property lawyer and pay for one of their panel ones to represent them. We regard this is unjust; are we not able to insist that the bank use our Penwortham solicitor ?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Penwortham conveyancing lawyer to apply to be on the conveyancing panel.
Can your site be used to recommend a Conveyancing solicitor in Penwortham even if I’m not purchasing or selling a house, for instance if I intend to acquire an office in Penwortham with a loan from Barclays Direct?
Our search tool is predominantly utilised to get a quote from domestic conveyancing solicitors in Penwortham but we have recorded towards the bottom of this page a selection of Penwortham commercial conveyancing firms. You will need to speak with the company directly to check if they can also act for Barclays Direct
It has been five months following my purchase conveyancing in Penwortham took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I decided to have a survey done on a property in Penwortham ahead of retaining lawyers. I have been informed that there is a flying freehold aspect to the house. Our surveyor advised that some banks tend not give a loan on a flying freehold property.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Halifax. Should you wish to telephone us we can look into this further via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Penwortham. Conveyancing may be slightly more expensive based on your lender's requirements.
I have been sourcing a conveyancing lawyer in Penwortham for my house move. Can I review a firm’s record with the legal regulator?
Members of the public can find presented Solicitor Regulator Association (SRA) decisions resulting from inquisitions from 2008 onwards. Visit Check a solicitor's record. For information Pre 2008, or to check a firm's record, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, call +44 (0)121 329 6800. The regulator may recorded call for training reasons.
I work for a reputable estate agent office in Penwortham where we see a number of leasehold sales jeopardised due to leases having less than 80 years remaining. I have been given inconsistent advice from local Penwortham conveyancing firms. Can you confirm whether the vendor of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Penwortham Leasehold Conveyancing - Sample of Queries Prior to buying
-
The prefered form of lease arrangement is where the freehold title is owned by the leaseholders. In this arrangement the leaseholders benefit from being in charge if their destiny and even though a managing agent is usually retained where the building is bigger than a house conversion, the managing agent employed by the leaseholders. On the whole the cost for major works tend not to be built into the maintenance charges, although there some managing agents in Penwortham ask leaseholders to contribute towards a sinking fund and this is used to offset against major repairs or maintenance. Are there any major works anticipated that will increase the maintenance fees?