I have been told that property searches are the main reason for stalling in Putney house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not figure amongst the common causes of hindrances in the conveyancing process. Searches are unlikely to feature in any delay in conveyancing in Putney.
I opted to have a survey completed on a house in Putney before instructing lawyers. I have been told that there is a flying freehold aspect to the property. My surveyor has said that some lenders tend refuse to issue a loan on a flying freehold house.
It varies from the lender to lender. HSBC has different requirements from Nationwide. If you e-mail us we can look into this further with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Putney. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Putney to see if the conveyancing costs will increase in light of this.
I am looking for a conveyancing practitioner in Putney for my sale. Can I review a firm’s complaints history with the profession’s regulator?
One may search for documented Solicitor Regulator Association (SRA) determinations stemming from inquisitions started on or after Jan 2008. Go to Check a solicitor's record. To find details Pre 2008, or to check a solicitors record, ring 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, dial +44 (0)121 329 6800. The regulator could monitor call for training requirements.
I am attracted to a two flats in Putney both have about fifty years left on the lease term. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the saleability of the lease deteriorates and it becomes more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. More often than not it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this area.
I inherited a first floor flat in Putney. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the sum due for the purchase of the freehold?
Most definitely. We are happy to put you in touch with a Putney conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Putney premises is 19 St. Margarets Crescent in August 2010. the tribunal was of the view that the premium to be paid by the leaseholder for the freehold reversion was £51,983.00 This case affected 3 flats. The unexpired residue of the current lease was 66.25 years.
I have just had an offer accepted on a leasehold flat in Putney and the broker that we are using suggested his property lawyer. They quoted £800 plus VAT and 3rd party costs. Does this sound steep?
Don't just go on a single estimate. One should seek like-for-like quotes for your conveyancing in Putney. Then pick one that you are comfortable with and just as important, is on the approved panel of the bank that you have applied for a mortgage from.