It is is a decade since I purchased my property in Pentre. Conveyancing solicitors have recently been appointed on the sale but I can't locate my title documents. Will this cause complications?
Don’t worry too much. Firstly there is a chance that the deeds will be with your mortgage company or they may be in the possession of the solicitor who oversaw the purchase. Secondly the chances are that the title will be registered at the land registry and you will be able to prove you own the property by your conveyancing solicitors procuring current official copies of the land registers. Most conveyancing in Pentre involves registered property but in the rare situation where your home is not registered it adds to the complexity but is resolvable.
My lawyer in Pentre is not on the Bank of Scotland Approved Panel. Is it possible for me to use my family solicitor even though they are excluded from the Bank of Scotland panel?
Your options are as follows:
- Complete the purchase with your preferred Pentre lawyers but Bank of Scotland will need to use a solicitor on their list of acceptable firms. This will inevitably rack up the overall conveyancing charges as well as result in frustration.
- Find a new lawyer to act in the purchase, remembering to check they are Bank of Scotland approved.
- Try to convince your Bank of Scotland based solicitor to attempt to join the Bank of Scotland panel
My wife and I are purchasing a property in Pentre. I might seem paranoid but how we can trust a lawyer? On completion day we will need to send funds into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Please help - my lawyer advises that chancel insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Pentre?
The appropriate level of chancel indemnity insurance depends on who your lender is. It would differ for example between Birmingham Midshires and The Royal Bank of Scotland. Conveyancing solicitors as opposed to borrowers take out such policies.
My fiancee and I are spending time viewing apartments in Pentre and I am about to put in an offer. Is it best to have a property lawyer on ‘stand by’? I am planning to take a mortgage with Leeds Building Society.
You should start obtaining conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the EA. Given that you are taking out a mortgage with Leeds Building Society, make sure you remember to check that your lawyer is on the Leeds Building Society conveyancing panel.
Over the last few months I have been searching for a flat up to £245,000 and found one round the corner in Pentre I like with a park and station in the vicinity, however it only has 49 remaining years left on the lease. There is not much else in Pentre in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a mortgage the remaining unexpired lease term may be a potential deal breaker. Reduce the price by the expected 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 may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
Planning to complete next month on a basement flat in Pentre. Conveyancing lawyers have said that they are sending me a report within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Pentre should include some of the following:
-
It needs to be made clear to you if the lease permits you to add or improve aspects of the flat- you should know whether any restrictions relates to all alterations or limited to structural alteration, and whether permission is required Who has the liability to repair and maintain the block. It is essential for you to know who is responsible the repair and maintenance of every part of the building You would want to be sent a copy of the lease specifics of the parties to the lease, for instance these could be the lessee, superior lessor, freeholder
Pentre Leasehold Conveyancing - Sample of Queries before Purchasing
-
How is the lease structured? Are any of leasehold owners in arrears of their service charge liability? Does the lease have in excess of 90 years remaining?
My solicitors in Pentre have advised me that no longer have my conveyancing file. At the time of my purchase I took out a mortgage with the bank. Is it case that being on the mortgage company conveyancing panel they need to have retained the file for a prescribed period?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the mortgage company Conveyancing Panel Terms. It might be worth you contacting the lender directly.