Can you clarify what the consequences are if my solicitor is removed from the HSBC Conveyancing panel ahead of completing my conveyancing in Penzance?
First, this is a very rare occurrence. 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 at a cost.
I have today made my last payment due on my mortgage with UBS. I assume I don't need a Penzance lawyer on the UBS panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your UBS 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 UBS mortgage from the register. UBS, 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 UBS has sent the Land Registry the discharge electronically, and
- UBS has instructed the Land Registry to do so
It is unclear whether my lender requires a lease extension. I have called my Penzance bank branch on a couple of occasions and was informed it wasn't a problem and they would lend. My Penzance conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
Your solicitor has to comply with the Council of Mortgage Lenders’ Handbook section two specifications 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 lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I recently had an offer accepted on an apartment in Penzance. My mortgage broker pressured me to appoint their property lawyer. I paid an upfront payment of £225. A couple of days later, the solicitor called me to say that they were not on the HSBC 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 HSBC 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.
I am downsizing from our property in Penzance and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. Any local lawyer would know this is not the case. It does beg the question why the buyers used an internet conveyancing firm as opposed to a conveyancing solicitor in Penzance. Having lived in Penzance for 4 years we know of no issue. Is it a good idea to contact our local Authority to get confirmation that the buyers are looking for.
It would appear that you have a conveyancing solicitor already. What do they say? 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 health insurance to cover that same illness)
How does conveyancing in Penzance differ for newly converted properties?
Most buyers of new build or newly converted property in Penzance come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is built. This is because builders in Penzance usually buy the land, 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 conveyancers 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 accustomed to new build conveyancing in Penzance or who has acted in the same development.
I opted to have a survey done on a property in Penzance prior to retaining solicitors. I have been advised that there is a flying freehold element to the house. My surveyor advised that some banks will not issue a mortgage on this type of home.
It depends who your proposed lender is. Santander has different requirements from Halifax. If you call us we can investigate further via the appropriate 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 can be more complicated and therefore you should check with your conveyancing solicitor in Penzance to see if the conveyancing will be more expensive.
I have been advised by three or four local property agents in Penzance to find a property lawyer using your seach tool. Is there a financial inducement for Estate Agents to offer your services over another?
We refuse to offer any financial incentive for sending work to this site. We thought it would be too underhand to pay a commission because home movers will think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.