My flat in Pitstone is up for sale and I have a purchaser. Will the conveyancer need to be required to be on the Virgin Money conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Virgin Money 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 conditions fairly frequently at the moment.
Should my conveyancer be raising questions concerning flooding as part of the conveyancing in Pitstone.
Flooding is a growing risk for solicitors dealing with homes in Pitstone. Plenty of people will acquire a property in Pitstone, completely expectant that at some time, it may suffer from flooding. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or dispose of the property. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Conveyancers are not qualified to impart advice on flood risk, however there are a various checks that may be undertaken by the purchaser or by their lawyers which will figure out the risks in Pitstone. The standard completed inquiry forms supplied to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual question of the vendor to determine whether the premises has historically flooded. In the event that flooding has previously occurred and is not revealed by the seller, then a buyer could issue a legal claim for losses as a result of such an misleading answer. A buyer’s solicitors will also carry out an enviro report. This will reveal if there is a recorded flood risk. If so, additional investigations should be carried out.
In what way can the Landlord & Tenant Act 1954 impact my business premises in Pitstone and how can your lawyers assist?
The 1954 Act gives a safeguard to business lessees, granting the right to apply to court for a renewal lease and remain in occupation at the end of an expired lease. There are limited grounds where a landlord can refuse a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and help with commercial conveyancing in Pitstone
Am I best advised to use a Pitstone conveyancing solicitor in close proximity to the house I am buying? An old friend can handle the legal work however they are based a couple of hundredmiles away.
The benefit of a local Pitstone conveyancing practice is that you can visit the firm to execute documents, deliver your ID and pester them if necessary. They will also have local intelligence which is a benefit. That being said nothing is more important than finding someone that will pull out all the stops for you. If other friends have used your friend and on the whole were content that should trump using an unfamiliar Pitstone conveyancing lawyer just because they are Pitstone based.
I've recently bought a leasehold property in Pitstone. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Pitstone Conveyancing for Leasehold Flats - A selection of Queries Prior to Purchasing
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Many Pitstone leasehold properties will incur a service charge for the upkeep of the block invoiced by the freeholder. If you buy the apartment you will have to pay this contribution, usually periodically throughout the year. This could vary from a couple of hundred pounds to thousands of pounds for large purpose-built blocks. There will also be a ground rent for you to pay yearly, this is usually not a large amount, say around £50-£100 but you should to enquire as sometimes it could be many hundreds of pounds. Is anyone aware of any major works in the near future that will increase the service costs? The best form of lease structure is if the freehold title is owned by the leaseholders. In this arrangement the leaseholders have control and notwithstanding that a managing agent is usually retained if the building is larger than a house conversion, the managing agent is directed by the tenants.
Developers have recommended to me a conveyancing practitioner and I've received a quote from them. It's almost £400 less expensive than my preferred Pitstone property lawyer. Should I use them?
Housebuilders often have lists of solicitors who are quick and who know the developer’s paperwork and conveyancing practitioner. As many developers offer an inducement to select a preferred solicitor for this reason, any increased charges can be avoided and a developer will not suggest a conveyancing factory and run the risk of having the transaction stall when they demand an exchange inside a month. A counter-argument for not agreeing to use the suggested property lawyer is that they may be hesitant to 'push' your interests for fear of alienating the sellers. If you worry that this may be the case you should keep with your high street Pitstone property lawyer.