We are approaching an exchange on a house in Penshaw and my mum and dad have transferred the exchange deposit to my lawyer. I am now advised that as the deposit has not arrived from me my conveyancer needs to disclose this to my mortgage company. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is coming from anyone other than me. I informed the bank regarding my parents' contribution when I applied for the home loan, so is it really appropriate for this now to hold matters up?
Your solicitor is duty bound to clarify with mortgage company to ensure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only disclose this to your lender if you agree, failing which, your lawyer must cease to continue acting.
Can your site be used to find a Conveyancing solicitor in Penshaw even if I’m not purchasing or selling a house, for instance if I want to acquire an office in Penshaw with a mortgage from TSB?
Our comparison service is primarily used to select domestic conveyancing solicitors in Penshaw but we have recorded at the end of this page a few Penshaw commercial conveyancing firms. You will need to enquire with the solicitors directly to check if they are also authorised to represent TSB
Are there restrictive covenants that are commonly picked up as part of conveyancing in Penshaw?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Penshaw. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Over the last few months I have been searching for a leasehold apartment up to £245,000 and identified one round the corner in Penshaw I like with a park and railway links in the vicinity, however it only has 52 remaining years left on the lease. There is not much else in Penshaw suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a home loan the shortness of the lease will likely be an issue. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of twenty four months you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
My husband and I are a fortnight into a leasehold purchase having been referred to conveyancers by the estate agent to handle our conveyancing in Penshaw. We are not happy. Can you help me find new solicitors?
They would need to be really poor to suggest replacing them. Has the loan offer been sent? In the event that it has you will need to advise them of the new conveyancer and get the offer are re-sent. Your new conveyancer should be on the lenders panel to avoid supplemental costs and frustration. So that should be your starting point. The find a solicitor tool should assist you in finding a lender approved conveyancer for your conveyancing in Penshaw
I see that you have a post code search directory listing law firms on the lender conveyancing panel. Do Penshaw conveyancing firms pay you a commission if I retain them for my house purchase?
We are a listing service only for law firms wishing to communicate if they are on the lender conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Penshaw.