Having sold my house in Petersfield last June but my buyer keeps calling daily complaining that his conveyancer is waiting to hear from myconveyancer. What should my lawyer have done following completion?
After completion of your disposal your conveyancer is duty bound to deliver the transfer documentation and all supplemental paperwork to the buyer’s solicitors. Where relevant, your solicitor must also evidence that the home loan has been repaid to the purchasers solicitors. There are no post completion requirements peculiar conveyancing in Petersfield.
My apartment in Petersfield is up for sale and I have a purchaser. Does my lawyer have to be on the TSB conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the TSB conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently at the moment.
Various internet forums that I have frequented warn that are the main reason for delay in Petersfield conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) released findings of a review by MoveWithUs that conveyancing searches do not figure amongst the common causes of delays during the legal transfer of property. Local searches are not likely to be the root cause of slowing down conveyancing in Petersfield.
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one close by in Petersfield I like with a park and station nearby, however it only has 52 years on the lease. There is not much else in Petersfield in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a home loan the shortness of the lease will likely be problematic. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of twenty four months you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.
How can the Landlord & Tenant Act 1954 impact my business property in Petersfield and how can your lawyers assist?
The 1954 Act affords a safeguard to commercial lessees, granting the dueness to make a request to court for a continuation of occupancy when the lease comes to an end. There are limited grounds that a landlord can refuse a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and help with commercial conveyancing in Petersfield
Do lenders provide you with an approved list of Petersfield solicitors? How do you know who is on the bank conveyancing panel?
Petersfield firms and firms conducting conveyancing in Petersfield themselves provide us confirmation that they are on the mortgage company conveyancing panel as opposed to being supplied with a list from the mortgage company directly.