I was informed yesterday by my mortgage broker that my Petersham lawyer is not on the mortgage company Conveyancing panel. What can I do to be certain if this is indeed the case?
Your first step should be to contact your Petersham lawyer directly. You lawyer should inform 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.
I purchased a renovated Edwardian property in Petersham. Conveyancing solicitor acted for me and The Mortgage Works. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, another for leasehold with the matching address. Is it worth asking The Mortgage Works to clarify?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Petersham and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the situation with the conveyancing solicitor who conducted the conveyancing.
I've recently found out that there is a flying freehold element on a house I have offered on last month in what should have been a simple, chain free conveyancing. Petersham is the location of the property. Can you shed any light on this issue?
Flying freeholds in Petersham are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Petersham you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Petersham may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Am I right to be suspicious that brokers that I am dealing with are encouraging me to use a nationwide conveyancing firm as opposed to a High Street Petersham conveyancing company?
As with lots of professional services, often referrals from connections can be extremely useful or valuable. But there are many parties with a vested interest in a conveyancing deal; estate agents, mortgage brokers and banks might all put forward lawyers to instruct. Sometimes these conveyancers might be known to one of the organisations as one of the best in their field, but sometimes there might be a commercial relationship behind the endorsement. You are free to appoint your own conveyancer. You need to be aware that many lenders operate an approved list of conveyancers you must use for the lender related work in your home move.
Is it best to go with a Petersham conveyancing practitioner who is local to the property I am hoping to buy? We have a good friend who can deal with the legal formalities however her office is a couple of hundredkilometers away.
The benefit of a local Petersham conveyancing firm is that you can visit the firm to execute paperwork, hand in your identification documents and apply pressure on them if necessary. Having local Petersham know how is a plus. That being said nothing is more important than finding someone that will do a good and efficient job. If you know people who used your friend and on the whole were impressed that must surpass using an unfamiliar Petersham conveyancing solicitor just because they are round the corner.
I am attracted to a two apartments in Petersham which have in the region of forty five years remaining on the lease term. Do I need to be concerned?
There are plenty of short leases in Petersham. The lease is a right to use the property for a prescribed time frame. As a lease gets shorter the marketability of the lease reduces and results in it becoming more expensive to extend the lease. For this reason it is advisable to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional assistance from a solicitor and surveyor with experience in this area.
After months of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Petersham. Can we issue an application to the Residential Property Tribunal Service?
You certainly can. We can put you in touch with a Petersham conveyancing firm who can help.
An example of a Lease Extension case for a Petersham residence is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case was in relation to 1 flat. The unexpired term was 60.45 years.