I am buying a garden flat in Padstow. How practical is it for me to do the conveyancing?

Leaving aside the complexities and merits of DIY conveyancing in Padstow you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Padstow.

I understand that there are debates on Chancel Insurance on online forums. Do I need chancel insurance when purchasing a residence in Padstow? or Apparently there is historic law that could mean that house owners living in a parish church boundary will be compelled to pay for repairs towards the chancel in proximity to the church. Is this a legitimate concern for conveyancing in Padstow?

Unless a previous acquisition of the premises completed post 12 October 2013 you could take it that conveyancing practitioners delivering conveyancing in Padstow to continue to recommend a chancel search and or chancel repair liability insurance.

I opted to have a survey completed on a house in Padstow prior to retaining conveyancers. I have been advised that there is a flying freehold overhang to the property. Our surveyor advised that some banks will not grant a loan on this type of premises.

It varies from the lender to lender. Santander has different instructions for example to Halifax. Should you wish to telephone us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Padstow. Conveyancing will be smoother if you use a solicitor in Padstow especially if they regularly deal with such properties in Padstow.

I am tempted by the attractive purchase price for a couple of apartments in Padstow which have about 50 years unexpired on the lease term. Do I need to be concerned?

A lease is a legal document that entitles you to use the property for a period of time. As a lease gets shorter the marketability of the lease deteriorates and it becomes more costly to extend the lease. For this reason it is often a good idea to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this arena.

I bought a 2 bed flat in Padstow, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Padstow with over 90 years remaining are worth £195,000. The ground rent is £45 yearly. The lease comes to an end on 21st October 2087

With just 63 years left to run the likely cost is going to range between £16,200 and £18,600 plus legals.

The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.

My property lawyer in Padstow is asking me for identification documents saying that this is part of his obligations as a solicitor on the bank Solicitor panel. This is news to me - can I refuse?

Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offence if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage, your lawyer also has to check ID documents to satisfy the bank. This is not specific to conveyancing in Padstow