The vendors of the property we are looking to purchase hired a conveyancing practitioner in South London who has recommended a preliminary contract with a non-refundable deposit of 5k. Are such agreements sensible?
This kind of arrangement is not the norm in South London, conveyancers are often found to veer clients away from them as they detract from focusing on the main conveyancing focus and if you end up having your deposit forfeited then the solicitor at best left with an upset client and at worst a litigious one. Secondly, there is no certainty that just because the owner has entered into an exclusivity agreement they will sell to you. They may breach the agreement if they are offered a big enough offer to do so because a wronged purchaser with the benefit of a exclusivity agreement will still have to establish consequential losses from the breach and these may not equate the financial benefit that the owner may obtain by breaking the contract, however morally reprehensible it undoubtedly is.
Do I select a Licenced Conveyancer or Solicitor for conveyancing in South London?
There are many recorded licenced Conveyancers in South London and Solicitor firms in South London who provide Conveyancing services It is important to make clear that both are supervised by regulatory bodies with both specialising in the legal aspects of transferring property. They may both also handle other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
I am the only beneficiary of my late mum's will and I have everything in my name now, including the house in South London. The South London property was put into my name in August. I want to move. I do know about the Mortgage Lenders six month 'rule', meaning my proprietorship may be considered the same way as if I'd bought the property in August. Is the property unsalable for six months?
The CML handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be caught by that. How sensible a view banks take of it, depend on the bank as this obligation is primarily there to capture the purchase and immediately sell or the wholesaling and assigning of property.
About to purchase apartment in South London. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Lloyds conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the South London conveyancing practitioner is on the Lloyds conveyancing panel.
Due to the encouragement of my in-laws I had a survey completed on a house in South London prior to instructing solicitors. I have been told that there is a flying freehold overhang to the property. Our surveyor advised that some lenders will not issue a loan on such a premises.
It varies from the lender to lender. Lloyds has different instructions for example to Halifax. If you call us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in South London. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in South London to see if the conveyancing costs will increase in light of this.
In what way can the Landlord & Tenant Act 1954 impact my commercial premises in South London and how can you help?
The particular law that you refer to affords security of tenure to business tenants, granting the legal entitlement to make a request to court for a continuation of occupancy 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 involved. Fees are different for commercial conveyancing. South London is one of the hundreds of areas of the UK in which our lawyers have offices
Are all South London property lawyers on every lender conveyancing panel?
You can use our search tool or you can go into your local bank branch in South London. the probability is that they can recommend conveyancing solicitors in South London