We are a couple about to exchange contracts for a property in Pratt's Bottom. We have hit a problem. Our mortgage offer with Godiva Mortgages Ltd expires on 25/11/2026 but the vendors are putting forward a completion date of 27/11/2026. Can one prolong the loan expiry date?
The person best placed to deal with your concern is your solicitors who will hopefully calculate if they should be discussing with the bank, vendor’s lawyers, estate agents or possibly all parties given the circumstances your conveyancing to date.
Are the Pratt's Bottom conveyancing solicitors identified as being on the Kent Reliance conveyancing panel, together with their details provided by Kent Reliance?
Pratt's Bottom conveyancing firms themselves provide us confirmation that they are on the Kent Reliance conveyancing panel as opposed to being supplied with a list from Kent Reliance directly.
My father informed me that in purchasing a property in Pratt's Bottom there could be a number of restrictions affecting the ability to carry out external alterations to a property. Is this right?
There are anumerous of properties in Pratt's Bottom which have some sort of restriction or requirement of consent to external changes. Part of the conveyancing in Pratt's Bottom should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Can you help - my lawyer advises that flying freehold insurance is required on my purchase. What is the level of cover for Pratt's Bottom conveyancing?
The appropriate level of flying freehold indemnity insurance depends on your lender. It would differ for example between Yorkshire Building Society and Virgin Money. Conveyancing practitioners as opposed to borrowers take out such insurances.
We expect to receive a AIP from RBS this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do RBS recommend any Pratt's Bottom solicitors on the RBS conveyancing panel, or is it better to go independently?
You will need to appoint Pratt's Bottom solicitors independently although you'll need to choose one on the RBS conveyancing panel. The solicitor represents both you and RBS through the process.
Just had an offer accepted on a new build apartment in Pratt's Bottom. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Pratt's Bottom
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Please supply a car parking plan. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
I am looking for a ground for flat up to £305k and identified one near me in Pratt's Bottom I like with open areas and station nearby, the downside is that it only has 51 remaining years left on the lease. There is not much else in Pratt's Bottom suitable, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a mortgage that many years will be a potential deal breaker. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.
I work for a busy estate agent office in Pratt's Bottom where we see a number of leasehold sales jeopardised as a result of short leases. I have received contradictory information from local Pratt's Bottom conveyancing solicitors. Please can you clarify whether the owner of a flat can initiate the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
An alternative approach is to agree the lease extension with the freeholder 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 buyer.
I have given up trying to reach an agreement for a lease extension in Pratt's Bottom. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a missing freeholder or where there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the LVT to decide the price.
An example of a Lease Extension matter before the tribunal 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 was in relation to 1 flat. The unexpired term was 50.57 years.