Me and my partner are purchasing our first property. The conveyancing practitioner has messagedto ask if we would like to purchase additional conveyancing searches. As novices we in the dark as to what's relevant for conveyancing in South East London
The quantity and type of South East London conveyancing searches depends primarily on the property, the location, the likelihood of any of these risks, your familiarity of the area and risks, your overall appetite to risk. What matters is that you properly appreciate what information the searches could supply. You may then decide if you personally think you need that search. If unclear, ask the conveyancer to offer guidance.
What is the best way to discover of the solicitor conducting my conveyancing in South East London is on the bank’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Virgin Money thus spending £187.00 plus VAT in another set of legal invoice.
Feel free to make the most of the search tool on this site. Please choose the mortgage company and type ‘South East London’ or your preferred area and you will discover numerous solicitors offices in South East London or near you.
is it true that all South East London solicitor practices on the UBS conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the UBS approved list of solicitors they would need to be overseen by the SRA. The majority of lenders do permit licenced conveyancers on their panel in which case such practice would be regulated by the CLC.
I currently have a mortgage with RBS for my property in South East London. Conveyancing has been completed months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform RBS?
Your original mortgage agreement with RBS will provide that you need their approval prior to renting your property as this is likely to be a breach of RBS’s mortgage conditions. In many cases banks or building societies will permit you to let 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 RBS directly. You need not do this via a RBS conveyancing panel lawyer.
Coventry BS have agreed my home loan in principle, my offer on a house in South East London has been agreed to, what happens next?
Your estate agent will need to be advised as to your conveyancing practitioner's details (ensure that the conveyancing practitioners are on the lender’s approved list). Call up Coventry BS or the financial adviser and complete any outstanding documentation. Coventry BS will sellect a valuer who will get in touch with the selling agent or owners to book a slot for the valuation to happen. Once conducted (assuming no problems) it takes on average ten days to get a mortgage offer. Coventry BS will send the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in South East London.
Are there restrictive covenants that are commonly picked up during conveyancing in South East London?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in South East London. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I've recently bought a leasehold property in South East London. Do I have any liability for service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a South East London conveyancing firm to assist?
Most definitely. We are happy to put you in touch with a South East London conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a South East London property is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case was in relation to 1 flat. The unexpired lease term was 73.26 years.