The housing market in Bermondsey is hotting up. What can I do to speed up matters?
Where the seller is applying a tight deadline for your conveyancing we would recommend that your lawyer is familiar with the area as they will benefit local contacts and insight. It is possible that they would have transacted otherhouses in the same street. Therefore consider using a Bermondsey conveyancing lawyer. Second, make sure that the lawyer is on the on the approved list for your mortgage company. It is said that 18% of Bermondsey conveyancing deals are held up or jeopardised after finding out that a buyer’s solicitor was not on their banks member panel. This can often result in the transaction being delayed by almost 21 days. It is believed that this issue affects approximately 100,000 home moves annually. Almost all Bermondsey conveyancing practices can not act for certain lenders so do check at the outset.
We see that you have a post code search directory identifying law firms on the Santander conveyancing panel. Do companies pay you a referral fee if I instruct them for our own conveyancing in Bermondsey?
We are a listing service only for law firms wishing to communicate if they are on the Santander conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Bermondsey.
A relative recommended that if I am buying in Bermondsey I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes included in the estimate for your Bermondsey conveyancing searches. It is not a small report of more than thirty pages, listing and setting out significant information about Bermondsey around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Bermondsey Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Bermondsey Education with maps and statistics, Local Amenities and other useful information concerning Bermondsey.
How does conveyancing in Bermondsey differ for newly converted properties?
Most buyers of new build residence in Bermondsey approach us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is built. This is because builders in Bermondsey typically acquire the real estate, 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 used to new build conveyancing in Bermondsey or who has acted in the same development.
My brother has suggested that I instruct his conveyancers in Bermondsey. Should I use them?
Much as we are happy to recommend a Bermondsey conveyancing lawyer the ideal way to choose a conveyancing practitioner is to have feedback from friends or relatives who have used the firm that you are considering.
I have just started marketing my basement flat in Bermondsey. Conveyancing is yet to be initiated, however I have recently received a quarterly service charge invoice – Do I pay up?
It best that you clear the maintenance contribution as normal given that all rents and service payments should be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
After years of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Bermondsey. Can we issue an application to the Residential Property Tribunal Service?
Where there is a missing landlord or if there is dispute about what the lease extension should cost, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to arrive at the price payable.
An example of a Freehold Enfranchisement case for a Bermondsey residence 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 affected 41 flats. The unexpired term as at the valuation date was 107 years.