I am obtaining a offer of a home loan from Nat West. I hope to use a Licensed Conveyancer in Penge. Does the Nat West Conveyancing panel include Licensed Conveyancers?
The Nat West conveyancing panel is, like many other lenders, represented by the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
AssumingI was to acquire a simple residential homein Penge for cash and have no survey and no local authority searches how much would I expect to to save on my conveyancing in Penge?
The only reduction in fees you would achieve is the Penge conveyancing searches. A lawyer is required to do the vast majority of work - money laundering, liaising with the sellers solicitor, stamp duty submission, register the property etc. You might save a bit for them not needing to register a charge however it will not be a lot.
We are purchasing a end of terrace house in Penge. We would like to carry out an extension to the side at the house.Will the conveyancing process involve investigations to see if these works were previously refused?
Your property lawyer should check the registered title as conveyancing in Penge will occasionally reveal restrictions in the title deeds which prohibit categories of alterations or require the permission of another owner. Many works require local authority planning permissions and approval under the building regulations. Some areas are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. It would be sensible to check these issues with a surveyor ahead of any purchase.
I am buying a property in Penge. One unusual aspect is that the roof has a solar panel. Yorkshire BS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Yorkshire BS your lawyer must check the formal instructions contained in Section 2 of UK Finance Lenders’ Handbook for Yorkshire BS. The Council of Mortgage Lenders’ Handbook includes minimum provisions for solar panel roof-space leases, and property lawyers are required to report to Yorkshire BS where a lease does not meet these requirements. The requirements relate to the installation of panels on properties countrywide and is not restricted to Penge.
I was told three weeks ago that my mortgage has been agreed to by Bank of Ireland. Is it usual for Bank of Ireland to only issue the offer once my solicitor in Penge is approved on their conveyancing panel? Bank of Ireland have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Bank of Ireland to deal with your lawyer's application to be on the Bank of Ireland conveyancing panel. There's no guarantee that your solicitor will be accepted.
Will my lawyer be raising enquiries concerning flooding during the conveyancing in Penge.
The risk of flooding is if increasing concern for conveyancers conducting conveyancing in Penge. There are those who purchase a property in Penge, fully aware that at some time, it may be flooded. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or dispose of the property. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.
Conveyancers are not best placed to offer advice on flood risk, but there are a various searches that can be carried out by the purchaser or by their solicitors which should give them a better understanding of the risks in Penge. The conventional set of property information forms given to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) contains a usual inquiry of the owner to find out if the property has historically flooded. If the property has been flooded in past which is not revealed by the vendor, then a buyer may bring a legal claim for losses as a result of such an incorrect answer. A purchaser’s solicitors should also carry out an environmental report. This should higlight if there is any known flood risk. If so, further inquiries will need to be carried out.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Penge. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Penge
Forfeiture - bankruptcy or liquidation must not apply under this provision. Please supply a car parking plan. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
Am I best advised to choose a Penge conveyancing solicitor based in the area that I am purchasing? An old friend can conduct the legal work however her office is a couple of hundredkilometers away.
The primary upside of using a high street Penge conveyancing firm is that you can visit the firm to execute documents, hand in your identification documents and pester them where appropriate. They will also have local insight which is a bonus. That being said it's more important to get someone that will pull out all the stops for you. If if people you trust instructed your friend and they were impressed that must outweigh using an unfamiliar Penge conveyancing lawyer solely due to them being local.