Can you help? My Brockley conveyancer is advising me that she is duty bound toorder Brockley conveyancing searches resulting from the fact thatthe firm are on the Santanderapproved lawyer panel. Is this really necessary?
You have limited options available to you. Given that you are taking out a loan with a mortgage company your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your property lawyer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook requirements . Even if you were a cash buyer you would be ill advised not to carry out Brockley conveyancing searches.
We're in Brockley, First time buyers purchasing with a mortgage (lender is Nationwide , and our lawyer is on the Nationwide conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nationwide conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Just had an offer accepted on a new build flat in Brockley. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Brockley
If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
Over the last few months I have been searching for a flat up to £245,000 and found one near me in Brockley I like with amenity areas and station nearby, the downside is that it's only got 52 remaining years left on the lease. There is not much else in Brockley for this price, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a mortgage the remaining unexpired lease term may be an issue. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least twenty four months you could request that they start the process of the extension and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
There are a number of houses in Brockley on unadopted lanes. We are purchasing one such property. Are there any advantages to purchasing a house on a privately owned road?
Brockley conveyancing solicitors are familiar with dealing homeson unadopted roads. The property lawyer should review the title to identify any rights or responsibilities. It is possible that there is a management company (wholly owned by residents) that residents pay into for the upkeep of the road. Where there is one, the road will likely be maintained and look better than council owned.