Me and my fiance are buying a flat in Penzance. My Solicitor is not listed on the lender solicitor panel. Can I still use my Penzance conveyancing solicitor even though they are excluded from the bank panel of approved conveyancing solicitors?
You must instruct a property lawyer to complete the legal work required if you take out a mortgage to buy your home. They will conduct all the relevant investigations on the property, make sure that you’re registered as proprietor and ensure that all the necessary mortgage paperwork is in place. You may instruct a Penzance property lawyer of your choosing. However, where the property lawyer selected is not a member of the mortgage company approved list supplemental charges will be incurred as separate legal representation will be need by the bank. Bank panel applications may be submitted, so provided your solicitor has not historically sought membership they can do so.
My wife and I have just purchased a property in Penzance. We have since encountered a number of issues with the house which we believe were omitted in the conveyancing searches. Do we have any recourse? What searches should? have been ordered for conveyancing in Penzance?
It is not clear from the question as what problems have arisen and if they are unique to conveyancing in Penzance. Conveyancing searches and due diligence initiated during the legal transfer of property are carried out to help avoid problems. As part of the process, a property owner fills in a form referred to as a Seller’s Property Information Form. If the information is incorrect, you may have a misrepresentation claim against the vendor for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Penzance.
My uncle passed away 10 months ago and as sole heir and executor I was left the house in Penzance. The house had a small mortgage left on it of around £8000. I want to have the title changed into my name whilst I re-mortgage to Clydesdale, pay off the mortgage. Is this possible?
If you intend to refinance then Clydesdale will require that you use a conveyancer on the Clydesdale conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Clydesdale conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Clydesdale mortgage is registered as a charge at the Land Registry.
Are all Penzance Conveyancing Quality Solicitors on the HSBC conveyancing panel?
Some major lenders now use CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of firms.
When it comes to lenders such as Barclays, do Penzance conveyancers have to pay a fee to be on the list of approved solicitors?
We are not aware of any mortgage company fees to be on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
After what seems like an age I have had an offer on a flat in Penzance accepted, the sellers do however have an associated purchase. The vendors have placed an offer on a flat, but it’s not yet agreed to, and are looking at other properties booked. I have selected a nearby conveyancing solicitor in Penzance. What should be my next step? When should I get the mortgage application with Santander started?
It is normal to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is in the region of one thousand pounds, then valuation, Penzance conveyancing search fees, etc). First, you must check that your conveyancer is on the Santander approved list. Concerning the subsequent stages this very much depends on the specifics of your transaction, motivation for this property and on the state of the market. During a hot market many home buyers would apply for a home loan with Santander and pay for the valuation and only if it comes back ok would they request their lawyer to move forward with the conveyancing in Penzance.
Will commercial conveyancing searches reveal impending roadworks that could impact a commercial site in Penzance?
Its becoming the norm that commercial conveyancing solicitors in Penzance will perform a SiteSolutions Highways report as it reduces the time that conveyancers expend in looking into accurate data on highways that impact buildings and development assets in Penzance. The report sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Penzance.
For each commercial conveyancing transaction in Penzance it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately may cause delays to Penzance commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not ordered for residential conveyancing in Penzance.
I'm remortgaging my existing property to a BTL mortgage with HSBC Bank and intend to use the remaining equity as a deposit on further property. The location we are looking at is Penzance. Will your lawyers be able to act for both sets of mortgage companies and tie in the transactions?
Do use our comparison tool on this site to be sure that the conveyancers are on the appropriate lender panels. Assuming that they are the conveyancer will be able to simultaneously deal with the two transactions but you should have a chat with you solicitor and specify your expectations and requirements.