Do I select a Licenced Conveyancer or Solicitor for conveyancing in Penn?

There are two types of lawyers who can conduct conveyancing in Penn namely licenced conveyancers or solicitors. Both professionals administer conveyancing services that required to complete the disposal or purchase of property. Both are obliged to perform Penn conveyancing on similar quality and guidelines so you may be safe in the knowledge that your conveyancing will be professionally conducted and that the requisite steps will be accurately followed.

I can not fathom if my lender requires a lease extension. I have telephoned my Penn building society branch on numerous occasions and was reassured it wasn't an issue and they would lend. My Penn conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they refuse to lend in accordance with their published requirements. I have no idea who is right.

Provided that the conveyancing practitioner is on the bank approved list, they must comply with the Council of Mortgage Lenders’ Handbook provisions for the 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've digested plenty of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Penn solicitor - who is on the Leeds Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?

Leeds Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Leeds Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Penn surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.

Various internet forums that I have come across warn that are the primary cause of delay in Penn house deals. Is there any truth in this?

The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not feature amongst the common causes of hindrances during the legal transfer of property. Searches are not likely to feature in any slowing down conveyancing in Penn.

I am buying a new build flat in Penn. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.

Here is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Penn

The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Forfeiture - bankruptcy or liquidation must not apply under this provision. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please confirm the Lease plans are architect prepared. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.

In my capacity as executor for the estate of my aunt I am selling a house in Swansea but reside in Penn. My solicitor (approximately 300 miles awayhas requested that I execute a stat dec before completion. Can you recommend a conveyancing lawyer in Penn who can attest and place their company stamp on the document?

Technically speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or solicitor will be fine regardless of whether they are Penn based

Can you offer any advice when it comes to appointing a Penn conveyancing firm to deal with our lease extension?

If you are instructing a conveyancer for your lease extension (regardless if they are a Penn conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Penn conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be helpful:

If the firm is not ALEP accredited then what is the reason?

I invested in buying a garden flat in Penn, conveyancing was carried out July 2000. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Penn with a long lease are worth £255,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease expires on 21st October 2099

With only 73 years remaining on your lease we estimate the price of your lease extension to be between £8,600 and £9,800 as well as legals.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.