What happens if my lawyer’s firm is suspended from the Coventry BS Solicitor panel ahead of completing my conveyancing in Penzance?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I have paid off my mortgage with TSB. I assume I don't need a Penzance solicitor on the TSB panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your TSB mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the TSB mortgage from the register. TSB, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where TSB has sent the Land Registry the discharge electronically, and
- TSB has instructed the Land Registry to do so
It is not clear whether my mortgage offer requires a lease extension. I have telephoned my Penzance bank branch on various occasions and was told it does not affect the mortgage offer and they would lend. My Penzance conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
The solicitor must follow the CML Handbook Part 2 requirements for your lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
I recently had an offer agreed on a house in Penzance. My mortgage broker recommended their conveyancers. I paid an upfront payment of £150. A few days later, the property lawyer called me to say that they were not on the UBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the UBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
We are selling our house in Penzance and the buyers lawyers are claiming that there is a possibility that the property was constructed land that was not decontaminated. A local lawyer would know that there is no such problem. It does beg the question why the purchasers are using a factory type conveyancing outfit as opposed to a conveyancing solicitor in Penzance. We have lived in Penzance for many years we know of no issue. Do we get in touch with our local Authority to seek clarification need.
It sounds as though you may have a conveyancing firm already. Are they able to advise? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
How does conveyancing in Penzance differ for new build properties?
Most buyers of new build property in Penzance contact us having been asked by the seller to sign contracts and commit to the purchase even before the residence is constructed. This is because house builders in Penzance usually buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Penzance or who has acted in the same development.
I opted to have a survey carried out on a house in Penzance before retaining conveyancers. I have been told that there is a flying freehold overhang to the property. The surveyor has said that some mortgage companies may refuse to issue a loan on such a property.
It depends who your proposed lender is. Santander has different requirements for example to Halifax. Should you wish to call us we can check via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Penzance. Conveyancing may be slightly more expensive based on your lender's requirements.
I have been recommended by a number of estate agents in Penzance to choose a conveyancer using your seach tool. Is there a financial incentive for Estate Agents to market your lawyers ahead of a competitor’s?
We refuse to make any referral fee for directing people our way. We thought it would be too underhand to pay a commission as a client could think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.