We are planning to buy a 3 bedroom flat in Penryn with a mortgage. We like our Penryn lawyer, however the bank advise he's not on their "panel". We have to appoint one of the lender panel solicitors or keep our Penryn conveyancing practitioner as well as pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
No, not really. 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 Penryn conveyancing lawyer to apply to be on the conveyancing panel.
My husband and I are approaching an exchange on a flat in Penryn and my parents have sent the exchange deposit to my conveyancer. I am now informed that as the deposit has not arrived from me my solicitor needs to disclose this to my mortgage company. I am advised that, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I disclosed to the mortgage company about my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
Your property lawyer is duty bound to check with lender to ensure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only reveal this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
I require expedited conveyancing in Penryn as I am under pressure to sign on the dotted line inside 2 weeks. Fortunately I do not need a mortgage. Can I decline from having conveyancing searches to save fees and time?
As you are are a cash purchaser you have the choice not to do searches although no law firm would advise that you don't. Drawing on years of experience of conveyancing in Penryn the following are examples of what can crop up and adversely affect future mortgageability: Refused Planning Applications, Outstanding Charges, Outstanding Grants, Unadopted Roads,...
My wife and I own a terraced Edwardian property in Penryn. Conveyancing solicitor represented me and Clydesdale. I did a free Land Registry search last week and there are a couple of entries: the first freehold, the second leasehold under the matching address. I'd like to know for sure, how can I find out??
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Penryn and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with your conveyancing lawyer who completed the work.
In what way does the Landlord & Tenant Act 1954 affect my business premises in Penryn and how can you help?
The particular law that you refer to gives security of tenure to business tenants, granting the a statutory right to make a request to court for a new lease and continue in occupation when the lease reaches an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing practices who use the act for protection and help with commercial conveyancing in Penryn
I’m about to sell my ground floor apartment in Penryn. Conveyancing has not commenced, however I have recently received a yearly maintenance charge demand – what should I do?
It best that you clear the invoice as you normally would because all rents and service payments should be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Penryn Conveyancing for Leasehold Flats - Examples of Questions you should consider before buying
-
On the whole the cost for major works are not included within maintenance charges, although there some managing agents in Penryn ask leasehold owners to pay into a reserve fund created for the specific purpose of building a fund for major works. Is the freehold owned collectively by the leaseholders? Does the lease include onerous restrictions?