As someone unfamiliar with the Pratt's Bottom conveyancing process what is the number one tip you can impart concerning the ownership transfer in Pratt's Bottom
Not many law firms or advisers will tell you this but conveyancing in Pratt's Bottom and elsewhere in South East London is an adversarial experience. Put another way, when it comes to conveyancing there is plenty of opportunity for friction between you and others involved in the ownership transfer. For instance, the seller, estate agent and sometimes your mortgage company. Selecting a solicitor for your conveyancing in Pratt's Bottom should not be taken lightly as your conveyancer is your adviser, and is the ONLY party in the legal process whose role it is to act in your best interests and to protect you.
Sometimes a third party with a vested interest will try and sway you that it is in your interests to do things their way. For instance, the estate agent may claim to be assisting by suggesting your lawyer is dragging his heels. Or your mortgage broker may tell you to do something that is contrary to your conveyancers guidance. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
I am currently in the process of buying my council flat in Pratt's Bottom. I have a mortgage offer with Virgin Money. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Virgin Money, you will need to appoint a solicitor on the Virgin Money conveyancing panel.
I can not fathom if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Pratt's Bottom bank branch on a couple of occasions and was advised it wasn't a problem and they will lend. My Pratt's Bottom conveyancing solicitor - who is on the bank conveyancing panel- called and was told they will not lend in accordance with their specific requirements. Who do I believe?
Your solicitor has to follow the CML Handbook section two requirements for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Our sealed bid on a semi in Pratt's Bottom has been agreed to, but there is a chain. The sellers have put an offer on a property, however it’s not yet agreed to, and are looking at other properties in the pipeline. I have chosen a local conveyancing solicitor in Pratt's Bottom. What do I do now? When should I get the mortgage application with Skipton going?
It is usual to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is in the region of one thousand pounds, then survey, Pratt's Bottom conveyancing search charges, etc). The first course of action is to ensure that your conveyancer is on the Skipton approved list. As to the next phase this very much dictated by the circumstances of your transaction, motivation for the property and on the state of the market. In a rising market the majority of purchasers would apply for a home loan with Skipton and arrange for the valuation and only if it was satisfactory would they request their conveyancing practitioner to proceed with the conveyancing in Pratt's Bottom.
Me and my brother own a 4 bedroom Georgian house in Pratt's Bottom. Conveyancing practitioner acted for me and Alliance & Leicester . I did a free Land Registry search last week and I saw a couple of entries: one for freehold, another for leasehold with the exact same address. I thought I was buying a freehold how can I check?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Pratt's Bottom and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the situation with the conveyancing practitioner who conducted the purchase.
How does conveyancing in Pratt's Bottom differ for newly converted properties?
Most buyers of new build residence in Pratt's Bottom contact us having been asked by the builder to sign contracts and commit to the purchase even before the house is ready to move into. This is because developers in Pratt's Bottom typically purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Pratt's Bottom or who has acted in the same development.
I opted to have a survey carried out on a house in Pratt's Bottom in advance of retaining solicitors. I have been informed that there is a flying freehold element to the property. Our surveyor advised that some mortgage companies may not give a loan on this type of premises.
It varies from the lender to lender. Santander has different instructions from Birmingham Midshires. Should you wish to telephone us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Pratt's Bottom. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Pratt's Bottom to see if the conveyancing will be more expensive.
In what way can the Landlord & Tenant Act 1954 affect my commercial property in Pratt's Bottom and how can you help?
The 1954 Act provides protection to commercial leaseholders, giving them the legal entitlement to apply to court for a continuation of occupancy at the end of the lease term. There are limited grounds that a landlord can refuse a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Pratt's Bottom is one of our numerous areas of the UK in which the firms we work with have offices