The Penzance conveyancing firm handling our Penzance conveyancing has spotted a discrepancy between the information in the valuation survey and what is revealed within the conveyancing documents. My solicitor says that he must check that the bank is OK with this discrepancy and is still content to lend. Is my lawyer’s stance legitimate?
Your property lawyer must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
We see that you have a search directory listing firms on the Nottingham conveyancing panel. Do firms pay you a referral fee if I appoint them for our conveyancing in Penzance?
We are a listing service only for law firms wishing to communicate if they are on the Nottingham conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Penzance.
How does conveyancing in Penzance differ for new build properties?
Most buyers of new build or newly converted property in Penzance contact us having been asked by the builder to exchange contracts and commit to the purchase even before the house is finished. This is because 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 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.
Due to the input of my in-laws I had a survey completed on a property in Penzance ahead of instructing solicitors. I have been informed that there is a flying freehold overhang to the property. The surveyor advised that some mortgage companies may refuse to issue a loan on a flying freehold property.
It depends who your proposed lender is. Lloyds has different instructions from Nationwide. If you e-mail us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed 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 costs will increase in light of this.
In my capacity as executor for the estate of my uncle I am selling a house in Monmouth but I am based in Penzance. My lawyer (based 235 kilometers from mehas requested that I execute a stat dec prior to completion. Could you suggest a conveyancing practitioner in Penzance who can witness and place their company stamp on the document?
Technically speaking you should not need to have the documents attested by a conveyancing solicitor. Normally any notary public or solicitor will be fine regardless of whether they are Penzance based
I am on look out for some leasehold conveyancing in Penzance. Before I set the wheels in motion I would like to find out the remaining lease term.
Assuming the lease is recorded at the land registry - and almost all are in Penzance - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Leasehold Conveyancing in Penzance - Examples of Queries before buying
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The best form of lease structure is if the freehold reversion is in the ownership of the leaseholders. In this situation the tenants have control and although a managing agent is often employed if the building is larger than a house conversion, the managing agent is directed by the tenants. On the whole the cost for major works are not included within service charges, although a few managing agents in Penzance require leaseholders to contribute towards a sinking fund and this is used to offset against larger works. It is important to be aware if fixing the lift or some other significant cost is due in the near future to be shared between the leaseholders and will dramatically increase the the maintenance costs or result in a specific payment.