Is there a search tool that I can use to investigate if the solicitor carrying out my conveyancing in Penylan is on the lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for HSBC Bank thus spending £187.00 plus VAT in another set of legal fees.
You should take advantage of the search tool on this web page. Please choose the mortgage company and type ‘Penylan’ or your location and you will see a number of lawyer based in Penylan or nearest you.
My uncle informed me that in buying a property in Penylan there could be various restrictions prohibiting external alterations to the property. Is this right?
We are aware of a number of properties in Penylan which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Penylan should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Is it correct that all Penylan CQS (Conveyancing Quality Scheme) solicitors are on the Nationwide conveyancing panel?
Some major lenders now utilise CQS as the kick off point for Panel membership such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of firms.
We had selected solicitors located in Penylan on the RBS solicitor approved list. They have just invoiced me a further amount for handling the RBS mortgage. Is this an additional conveyancing fee set by RBS?
Unfortunately, so long as it is in their Terms and Conditions or estimate then yes your solicitor is entitled to levy a fee for this. This fee is not set by RBS but by your Penylan property lawyer. Some firms on the RBS panel will charge an ‘acting for lender’ fee but many firms include it on their overall fee.
Have purchased a a detached house in Penylan , how long should it take for the Land Registry to deal with the formalities evidencing my title? My Penylan conveyancing solicitor has been painfully slow, so I want to be certain the registration is dealt with.
There is nothing unique about conveyancing in Penylan registration formalities. Rather than based on location, timescales can vary subject to who lodges the application, whether it is in order and whether the Land registry must send notices to any other parties. Currently roughly 80% of such applications are completed in less than three weeks but some can be subject to longer delays. Registration occurs once the buyer has moved in to the premises so an expedited registration is not usually an essential issue yet if there is a degree of urgency associated with the registration then you or your lawyers should speak with the land registry and explain the circumstances.
I'm purchasing a new build house in Penylan with a loan from National Westminster Bank. The sellers refused to budge the amount so I negotiated £7000 of fixtures and fittings instead. The estate agent advised me not inform my solicitor about this side-deal as it could jeopardize my loan with National Westminster Bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am looking into buying my first house which is in Penylan and I am already nervous. I couldn't find anything specific about Penylan. Conveyancing will be needed in due course but do you know about the Penylan area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Penylan. In the meantime here are some basic statistics that we found
I am intending to sublet my leasehold flat in Penylan. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Some leases for properties in Penylan do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I bought a leasehold flat in Penylan, conveyancing having been completed 7 years ago. How much will my lease extension cost? Similar properties in Penylan with over 90 years remaining are worth £197,000. The ground rent is £55 levied per year. The lease ends on 21st October 2080
With just 55 years remaining on your lease we estimate the premium for your lease extension to span between £31,400 and £36,200 as well as costs.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.