Unfortunately I am unable to travel far from Petersfield. What is the rationale as to why all Petersfield lawyers aren't automatically on all mortgage company panels?
Even though it may seem unfair for lenders to restrict who can act for them, from the public’s or lawyer’s point of view, the flip side is that lending institutions are increasingly anxious and consider it essential to protect them from illegal activities. As a result of this concern banks are limiting their conveyancing panel to a size that they are happy to control.
We are about to complete buying a property in Petersfield but as a consequence of wreckage from the recent storms I have was able negotiate compensation from the owner of £2k by way of a reduction in the price. I had intended this to be addressed as part of amending the contract yet Santander are not allowing this. Why were they approached?
The conveyancing practitioner being on a Santander conveyancing panel is obliged to advise Santander of any amendments to the purchase price. If you were to refuse your solicitor to notify the price change to Santander then they would have to discontinue acting for you. In addition, Santander and you would have to appoint a new property lawyer for your conveyancing in Petersfield.
Over the last few months I have been searching for a flat up to £195,000 and identified one close by in Petersfield I like with a park and transport links in the vicinity, the downside is that it only has 49 years on the lease. I can't really find anything else in Petersfield in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a mortgage the shortness of the lease will likely be a potential deal breaker. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of 2 years you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.
How can the Landlord & Tenant Act 1954 affect my business property in Petersfield and how can your lawyers assist?
The 1954 Act gives protection to business lessees, giving them the right to apply to court for a renewal tenancy and continue in occupation at the end of an expired lease. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and handle your commercial conveyancing in Petersfield
My fiance is purchasing a shared ownership flat in Petersfield. He was given a quote by the lawyer connected to the estate agents totaling £1275 . It was 7 years ago I sold and purchased a property and the fee was £495. Have charges really escalated to that extent?
What does the conveyancing estimate include? Is it just for the legal fees, or what you will be paying in total (for instance Petersfield searches, land registry fees, etc)