I have just been advised by my mortgage broker that my Patcham property lawyer is not on the bank Solicitor panel. What can I do to check?
The best course of action for you to take is to contact your Patcham conveyancer. It is reasonable to expect your lawyer to advise you what has happened. If they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your lender.
Is there a search tool that I can utilise to investigate if the solicitor carrying out my conveyancing in Patcham is on the bank’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Bank of Ireland thus paying £175.00 in additional conveyancing charges.
Feel free to make use of the search tool on this site. Pick the lender and type ‘Patcham’ or your preferred area and you will discover numerous conveyancers based in Patcham or by proximity to you.
Should commercial conveyancing searches disclose proposed roadworks that could affect a commercial site in Patcham?
Many commercial conveyancing solicitors in Patcham will perform a SiteSolutions Highways report as it reduces the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Patcham. The report provides definitive data 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 Patcham.
For each commercial conveyancing transaction in Patcham it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately can cause delays to Patcham commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not ordered for residential conveyancing in Patcham.
I have a renovated Georgian property in Patcham. Conveyancing lawyer represented me and Skipton Building Society. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, the second leasehold with the exact same property. Is it worth asking Skipton Building Society to clarify?
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Patcham and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the position with your conveyancing practitioner who completed the work.
I'm remortgaging my current home to a BTL loan with Clydesdale and intend to use the remaining equity towards further property. The location we are interested in is Patcham. Will your conveyancers be able to act for both sets of banks and link together the conveyances?
Make use of our search tool on this page to ensure that the solicitors are approved by both mortgage companies. Having checked that they are the lawyer will be able to connect the two deals but you should talk with you lawyer and communicate your expectations and requirements.
I am looking at a couple of flats in Patcham both have approximately 50 years left on the leases. Do I need to be concerned?
There are no two ways about it. A leasehold flat in Patcham is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the marketability of the property. The majority of purchasers and mortgage companies, leases with under 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Patcham conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Leasehold Conveyancing in Patcham - A selection of Questions you should ask Prior to Purchasing
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It is important to be aware whether window replacement or some other significant cost is due shortly to be shared by the leaseholders and will materially impact the level of the maintenance fees or necessitate a one time invoice. It would be a good idea to discover if there is anything that is prohibited in the lease. By way of example plenty of leases prohibit pets being allowed in in a block in Patcham. If you love the propertyin Patcham but your dog can’t make the move with you then you have a very difficult decision. Generally speaking the cost for major works are not wrapped into the maintenance charges, albeit that some managing agents in Patcham obliged leaseholders to pay into a reserve fund created for the specific purpose of building a fund for major repairs or maintenance.