My husband and I are intending to buy a 2 bedroom apartment in Petersham with a mortgage. We have a Petersham lawyer, but the mortgage company says she’s not on their "panel". We have to appoint one of the bank panel conveyancing practices or keep our Petersham solicitor as well as pay for one of their panel ones to represent them. We feel that this is inequitable; can we not demand that the mortgage company use our Petersham property lawyer ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Petersham conveyancing lawyer to apply to be on the conveyancing panel.
Our Petersham conveyancer has discovered a discrepancy between the surveyor’s assumptions in the valuation report and what is revealed within the title deeds. My lawyer has advised that he is duty bound to ensure that the lender is OK with this discrepancy and is content to go ahead. Is my solicitor’s stance correct?
Your solicitor must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Should our solicitor be raising questions concerning flooding as part of the conveyancing in Petersham.
Flooding is a growing risk for lawyers conducting conveyancing in Petersham. There are those who buy a house in Petersham, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or sell the property. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Conveyancers are not best placed to impart advice on flood risk, however there are a number of checks that can be initiated by the purchaser or by their conveyancers which can figure out the risks in Petersham. The standard property information forms supplied to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual inquiry of the seller to discover whether the property has historically flooded. If flooding has previously occurred and is not notified by the owner, then a buyer could issue a compensation claim as a result of such an incorrect answer. The buyer’s conveyancers may also order an enviro report. This will disclose if there is a recorded flood risk. If so, more detailed inquiries should be carried out.
I am a sole trader intending to take an assignment of a lease of a shop on the high street. Can you recommend solicitors offering fixed costs for commercial conveyancing in Petersham for under 2k?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Petersham, including the disposal and acquisition of businesses as well as simply premises. Whether you are looking to buy or sell a shop, pub, restaurant, office, retail unit or a complete business we can put you in touch with the right lawyer. Regarding the costs these will vary based on the structure and terms of the deal. Please provide us with your details or call so as to enable us to provide you with comprehensive commercial conveyancing calculation.
Estate agents have just been given the go-ahead to market my ground floor apartment in Petersham. Conveyancing is yet to be initiated, however I have recently had a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should discharge the invoice as normal as all ground rent and maintenance invoices will be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Petersham conveyancing firm to act on my behalf?
in cases where there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the LVT to determine the amount due.
An example of a Lease Extension matter before the tribunal for a Petersham property 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 was in relation to 1 flat. The unexpired lease term was 60.45 years.