We are about to exchange contracts for a semi detached house in Petts Wood. We have hit a stumbling block. Our loan offer with The Royal Bank of Scotland runs out on 10/4/2025 but the sellers are insisting on a completion date of 14/4/2025. Is it possible to prolong the loan expiry date?
The person best placed to deal with your concern is your lawyer who will calculate if he or she is corresponding with the lender, vendor’s solicitors, property agents or indeed all three based on what has happend in your conveyancing as of today.
I purchased a freehold property in Petts Wood yet pay rent, why is this and what is this?
It’s unusual for properties in Petts Wood and has limited impact for conveyancing in Petts Wood but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
My lender has suggested a law firm on their panel based in Petts Wood but I would rather instruct a conveyancing lawyer in Petts Wood or nearer to where I live. Are you able to help?
The minority of Petts Wood conveyancing firms are approved and listed on all lender’s conveyancing panel. Use the above search tool to locate a Petts Wood conveyancing solicitor on the on the mortgage company panel.
Forgive me if this question is silly but I am unseasoned as FTB of a garden flat in Petts Wood. Do I receive the keys to the property on completion from my solicitor? If so, I will instruct a High Street conveyancing solicitor in Petts Wood?
On the day of completion you do not need to go to the conveyancers office in Petts Wood. Your solicitors will electronically transfer the completion advance to the owner’s solicitors, and once they have received this, you should be called to collect the keys from the Estate Agents and start moving into the property. This tends to happen early afternoon.
Can I be sure that the Petts Wood conveyancing solicitor on the Skipton panel is any good?
When it comes to conveyancing in Petts Wood getting recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always recommend that you speak with the lawyer handling your transaction.
I currently have a mortgage with UBS for my property in Petts Wood. Conveyancing has been completed a year ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform UBS?
UBS must be informed of your intention prior to letting out your property as this is likely to be a breach of UBS’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact UBS directly. You need not do this via a UBS conveyancing panel firm.
My cousin has recommend that I instruct his lawyers for conveyancing in Petts Wood. Should I use them?
There are no two ways about it it’s preferable to choose a conveyancing solicitor is to have guidance from friends or family who have actually previously instructed the solicitor that you are are thinking of instructing.
I only have 68 years unexpired on my flat in Petts Wood. I need to extend my lease but my freeholder is can not be found. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to prove that you have done all that could be expected to find the freeholder. On the whole a specialist would be helpful to try and locate and prepare a report which can be used as proof that the landlord is indeed missing. It is wise to seek advice from a solicitor both on proving the landlord’s absence and the vesting order request to the County Court covering Petts Wood.
I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Petts Wood conveyancing firm to assist?
Absolutely. We can put you in touch with a Petts Wood conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Petts Wood residence is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case related to 1 flat. The number of years remaining on the existing lease(s) was 50.57 years.