When it comes to lenders such as Barclays, do Purfleet property lawyers face an annual charge to be on the list of approved solicitors?
We are not aware of any bank fees to register on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
We were going to get a AIP from Principality 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 Principality recommend any Purfleet solicitors on the Principality conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Purfleet solicitors independently although you'll need to choose one on the Principality conveyancing panel. The solicitor represents both you and Principality through the process.
I currently have a mortgage with Principality for my property in Purfleet. Conveyancing was finalised months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Principality?
You must advise Principality prior to letting out your property as this is likely to be a breach of Principality’s mortgage conditions. It may be that Principality will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Principality directly. It should not be necessary to do this via a Principality conveyancing panel lawyer.
Will commercial conveyancing searches disclose planned roadworks that could impact a commercial land in Purfleet?
Many commercial conveyancing solicitors in Purfleet will order a SiteSolutions Highways report as it reduces the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in Purfleet. The report sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Purfleet.
For each commercial conveyancing transaction in Purfleet it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately may result in delays to Purfleet commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not ordered for domestic conveyancing in Purfleet.
I have been on the look out for a ground for flat up to £305k and found one round the corner in Purfleet I like with amenity areas and station in the vicinity, however it only has 51 remaining years left on the lease. There is not much else in Purfleet for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you need a mortgage that many years will likely be a potential deal breaker. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least twenty four months you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.
Am I best advised to go with a Purfleet conveyancing practitioner based in the area that I am buying? I have an old university friend who can execute the legal formalities however they are based 200kilometers drive away.
The primary upside of using a local Purfleet conveyancing practice is that you can drop in to sign documents, present your ID and apply pressure on them if necessary. Having local Purfleet know how is a bonus. That being said nothing is more important than finding someone that will do a good and efficient job. If you know people who instructed your friend and in the main were impressed that should outweigh using an unfamiliar Purfleet conveyancing lawyer solely due to them being round the corner.
I work for a busy estate agency in Purfleet where we have witnessed a number of leasehold sales put at risk due to short leases. I have received inconsistent advice from local Purfleet conveyancing solicitors. Could you clarify whether the seller of a flat can initiate the lease extension formalities for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Purfleet conveyancing firm to assist?
You certainly can. We are happy to put you in touch with a Purfleet conveyancing firm who can help.
An example of a Lease Extension case for a Purfleet premises is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case was in relation to 13 flats. The unexpired lease term was 76 years.
I have just started marketing my ground floor apartment in Purfleet.Conveyancing is yet to be initiated but I have recently received a quarterly maintenance charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should discharge the maintenance contribution as normal given that all rents and service payments should be allottedon completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until 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