How do I investigate if the solicitor handling my conveyancing in Petersham is on the lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Leeds Building Society thus paying £192.00 in further legal invoice.
Please do make use of the search tool on this page. Please choose the mortgage company and type ‘Petersham’ or your location and you will see numerous solicitors based in Petersham or by proximity to you.
I have been told that property searches are the number one cause of hinderance in Petersham house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the findings of a review by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of delays during the legal transfer of property. Local searches are not likely to feature in any slowing down conveyancing in Petersham.
How does conveyancing in Petersham differ for newly converted properties?
Most buyers of new build premises in Petersham come to us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is finished. This is because house builders in Petersham usually acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Petersham or who has acted in the same development.
I'm converting the mortgage on my existing property to a BTL mortgage with HSBC Bank and intend to use the remaining equity as a down payment on another house. The area we are looking at is Petersham. Will your solicitors be able to act for the two lenders and tie in the transactions?
Make use of our comparison tool on this page to ensure that the lawyers are on the appropriate lender panels. Having checked that they are your lawyer will be able to simultaneously deal with the two transactions but you should talk with you lawyer and specify your expectations and needs.
I work for a long established estate agency in Petersham where we have witnessed a number of flat sales put at risk as a result of short leases. I have received conflicting advice from local Petersham conveyancing firms. Please can you shed some light as to whether the owner of a flat can start the lease extension process for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Despite our best efforts, we have been unsuccessful in trying to purchase the freehold in Petersham. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most definitely. We are happy to put you in touch with a Petersham conveyancing firm who can help.
An example of a Lease Extension decision for a Petersham flat 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 affected 1 flat. The unexpired residue of the current lease was 60.45 years.
I need to swap lawyers as my Petersham lawyer is not on the bank's approved list of conveyancing solicitors. How simple is it to change conveyancer?
In the event that you have not formally appointed a solicitor to start work and at this stage simply received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Petersham that you're thinking of instructing.