Finally, a loan offer from Santander for the remortgage of my single bedroom apartment is to be issued by the end of next week. Are you able to propose a cheap conveyancing practitioner in Southwark?
You are on the wrong site if you are seeking the cheapest conveyancing solicitors in Southwark. We can offer you cost effective conveyancing but we do not aim to advertise as being the cheapest. Resist the temptation to appoint organisations offering low cost conveyancing in Southwark. Optimistically, in going for low cost conveyancing, you will earn what you pay for and at worst it will result in you with a surprising uplift in extras and still not get the service required.
Our Southwark solicitor has identified a difference when comparing the surveyor’s assumptions in the valuation survey and what is in the legal papers for the property. My lawyer has advised that he must ensure that the lender is happy with this discrepancy and is still content to lend. Is my solicitor’s course or action appropriate?
Your property lawyer must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
I have recentlydiscovered that Stirling Law have closed. They carried out my conveyancing in Southwark for a purchase of a freehold house 10 months ago. How can I check that the property is not still registered in the name of the former proprietor?
The quickest method to check if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Southwark conveyancing specialists.
How does conveyancing in Southwark differ for newly converted properties?
Most buyers of new build property in Southwark contact us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because new home sellers in Southwark typically purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Southwark or who has acted in the same development.
I am looking for a flat up to £195,000 and found one round the corner in Southwark I like with amenity areas and transport links nearby, the downside is that it's only got 61 years on the lease. I can't really find anything else in Southwark suitable, so just wondered if I would be making a mistake buying a short lease?
Should you need a mortgage the remaining unexpired lease term will be an issue. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of twenty four months you can request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.
My wife and I purchased a leasehold house in Southwark. Conveyancing and Nationwide Building Society mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Southwark who previously acted has long since retired. What should I do?
First make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is in fact the new freeholder. It is not necessary to incur the fees of a Southwark conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am the leaseholder of a garden flat in Southwark. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for a lease extension?
if there is a missing landlord or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to decide the premium.
An example of a Freehold Enfranchisement decision for a Southwark flat is 1-41 Royal Tower Lodge 40 Cartwright Street in April 2013. the tribunal adding the agreed value of capitalised ground rents and the reversion the price to be paid for the freehold was £1,187,000 This case was in relation to 41 flats. The number of years remaining on the existing lease(s) was 107 years.