My financial adviser has asked me for my Penylan solicitor’s panel reference for the Nat West conveyancing panel. What is the best way to find this out. I have contacted my local Penylan branch but they cant find it on their system.
Have you tried speaking to your Penylan solicitor about this?. They maintain a central record lender panel numbers.
Our solicitor has discovered a defect with the lease for the property we are purchasing in Penylan. The other side have put forward title insurance as a solution. We are content with insurance and will pay for it. Our solicitor says that he must check that the lender is content with this solution. Who is the client here, us or the mortgage company ?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. Your conveyancer must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your property lawyer will have no choice but to discontinue acting for you.
How up to date is your database of Penylan solicitors on the Kent Reliance conveyancing panel? Do Kent Reliance send you an updated list?
Penylan conveyancing firms themselves provide us confirmation that they are on the Kent Reliance conveyancing panel as opposed to being supplied with a list from Kent Reliance directly.
My apartment in Penylan is up for sale and I have accepted an offer. Does the lawyer need to be on the Barclays conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Barclays 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 requirements fairly frequently currently.
I have todaybecome aware that Action Conveyancing have been shut down. They carried out my conveyancing in Penylan for a purchase of a leasehold apartment 12 months ago. How can I check that my home is in my name in the name of the previous owner?
The easiest method to see if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Penylan conveyancing specialists.
I have been on the look out for a ground for flat up to £305k and found one near me in Penylan I like with a park and station nearby, the downside is that it only has 52 years unexpired on the lease. There is not much else in Penylan in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a home loan the remaining unexpired lease term will likely be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.