I am acquiring a house for cash in Bermondsey. I have lived for the last Seventeen years in Bermondsey. Conveyancing searches are a lot of money. Given that I know the area and road intimately should I not bother getting the solicitor to do all the conveyancing searches?
If you not getting a home loan, then almost all of the Bermondsey conveyancing searches are at your discretion. Your lawyer will 'advise', no-doubt strongly, that you should have searches carried out, but she has a professional duty to do this. One thing to bear in mind; if you are intend to sell the house one day, it could be of interest to your prospective purchaser what the searches disclose. On occasion houses with functional issues can still reveal unfavourable search results. A competent conveyancing solicitor in Bermondsey should provide you some helpful advice here.
I am in the process of mortgaging my apartment in Bermondsey, does my lawyer need to be on the Principality Conveyancing panel?
There is nothing to stop you using your solicitor, but Principality will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
Will my conveyancer be asking questions concerning flooding as part of the conveyancing in Bermondsey.
The risk of flooding is if increasing concern for conveyancers conducting conveyancing in Bermondsey. There are those who buy a property in Bermondsey, completely aware that at some time, it may be flooded. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Solicitors are not best placed to offer advice on flood risk, however there are a various checks that can be undertaken by the purchaser or on a buyer’s behalf which should figure out the risks in Bermondsey. The standard property information forms sent to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) includes a usual inquiry of the vendor to discover if the property has suffered from flooding. In the event that the premises has been flooded in past and is not revealed by the vendor, then a purchaser may commence a claim for damages as a result of such an incorrect response. The purchaser’s conveyancers may also order an enviro search. This will reveal whether there is a recorded flood risk. If so, more detailed inquiries will need to be made.
I used Stirling Law a few years past for my conveyancing in Bermondsey. I now require my file but cannot find the solicitor. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Bermondsey of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I have been on the look out for a flat up to £305k and found one close by in Bermondsey I like with amenity areas and transport links in the vicinity, the downside is that it only has 61 years unexpired on the lease. There is not much else in Bermondsey suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a home loan the remaining unexpired lease term may be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for at least twenty four months you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this matter.
Do I cancel the direct debit for my mortgage with Santander once a completion date for my sale in Bermondsey has been agreed?
No, you should continue meeting any mortgage payments to Santander pending the mortgage being repaid on completion as part of your Bermondsey conveyancing.