Am I correct in assuming that the fact that my conveyancer in Pratt's Bottom is not identified on my mortgage company's solicitor panel that there is a problem with the quality of the firm’s conveyancing?
It would be unwise to jump to that conclusion. There are plenty of plausible explanations. Just recently a report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the Pratt's Bottom conveyancing practice and enquire why they are no longer on the approved list for your mortgage company.
My brother and I have just bought a property in Pratt's Bottom. We have since encountered a number of problems with the house which we believe were missed in the conveyancing searches. What action can we take? Can you clarify the type of searches that needed to have been carried out for conveyancing in Pratt's Bottom?
The question is vague as what problems have arisen and if they are relate to conveyancing in Pratt's Bottom. Conveyancing searches and investigations undertaken during the legal transfer of property are designed to help avoid problems. As part of the process, a seller completes a questionnaire called a SPIF. If the information provided is misleading, you could possibly take legal action against the vendor for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Pratt's Bottom.
Are the Pratt's Bottom conveyancing solicitors identified as being on the Virgin Money conveyancing panel, together with their details provided by Virgin Money?
Pratt's Bottom conveyancing firms themselves provide us confirmation that they are on the Virgin Money conveyancing panel as opposed to being supplied with a list from Virgin Money directly.
I'm buying a new build house in Pratt's Bottom with the aid of help to buy. The builders refused to move on the amount so I negotiated 6k of extras instead. The property agent advised me not to tell my lawyer about this side-deal as it may affect my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
If all goes to plan we aim to complete the disposal of our £275,000 apartment in Pratt's Bottom next week. The freeholder has quoted £396 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Pratt's Bottom?
Pratt's Bottom conveyancing on leasehold flats more often than not requires the buyer’s lawyer sending enquiries for the landlord to answer. Although the landlord is not legally bound to respond to such questions the majority will be content to do so. They are entitled to charge a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some situations it is above £800. The administration charge demanded by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration fees, otherwise the invoice is not strictly payable. Reality however dictates that one has no option but to pay whatever is requested of you should you wish to complete the sale of your home.
I am the proprietor of a a ground floor purpose built flat in Pratt's Bottom. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the sum payable for a lease extension?
Where there is a missing freeholder or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to arrive at the price.
An example of a Lease Extension decision for a Pratt's Bottom flat 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 remaining number of years on the lease was 50.57 years.
When it comes to my conveyancing in Pratt's Bottom should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Pratt's Bottom conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the solicitor's time in submitting the funds this way.