At what point can the exchange of contracts occur in purchase conveyancing in Brixton and am I required to be at the conveyancers branch?
Where you are round the corner to our conveyancing solicitors in Brixton you are invited in to sign the paperwork. That being said, the lender approved solicitors we work with offer a countrywide conveyancing service and give as equally diligent and professional a job for you when dealing with you digitally. The signing of the purchase agreement is not when everything is set in stone. Signing on the dotted line simply enables the solicitor to address the formalities at the appropriate time, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where an extended "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Brixton)to be in the office available at the end of the phone to exchange contracts.
We are purchasing a apartment in Brixton. I might seem paranoid but how we can trust a conveyancer? At some point we have to put our life savings into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am purchasing a terrace house in Brixton. We would like to carry out an extension to the side at the property.Will legal due diligence on the property include checks to determine if these works are prohibited?
Your conveyancer should review the registered title as conveyancing in Brixton can occasionally reveal restrictions in the title documents which prevent certain alterations or require the consent of another owner. Some extensions call for local authority planning consent and approval in compliance with building regulations. Many locations are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these things with a surveyor prior to committing yourself to a purchase.
How can we tell if a Brixton conveyancing solicitor on the Nationwide panel is any good?
When it comes to conveyancing in Brixton getting recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always suggest that you speak with the solicitor carrying out your conveyancing.
Have completed on a a terraced house in Brixton , What is the estimated time for the Land Registry to deal with the formalities evidencing my ownership? My Brixton conveyancing solicitor has been very slow, so I want to be sure the registration formalities are concluded.
As far as conveyancing in Brixton is concerned, registration is no quicker or slower than anywhere else in England and Wales. Rather than based on location, timescales can adjust depending on who lodges the application, whether there are errors and if the Land registry need to notify any other persons or bodies. As of today approximately three quarters of submission are fully addressed within 12 days but some can be subject to longer delays. Historically registration occurs once the new owner has moved in to the property thus an expedited registration is not typically top priority but where there is a degree of urgency associated with the registration then you or your lawyers must communicate with the Registry to express the reasoning for an expedited registration.
I'm buying my first flat in Brixton with a loan from Platform Home Loans Ltd. The sellers refused to budge the amount so I negotiated £7000 of fixtures and fittings instead. The property agent told me not disclose to my lawyer about the deal as it would adversely affect my mortgage with Platform Home Loans Ltd. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Over the last few months I have been searching for a flat up to £245,000 and found one near me in Brixton I like with open areas and railway links nearby, however it's only got 52 years on the lease. There is not much else in Brixton suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a home loan that many years will be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.
I am attracted to a couple of maisonettes in Brixton both have about fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?
There are no two ways about it. A leasehold flat in Brixton is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the salability of the property. For most buyers and banks, leases with less than eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Brixton conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Having spent years of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Brixton. Can we issue an application to the Residential Property Tribunal Service?
if there is a absentee freeholder or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to assess the premium.
An example of a Freehold Enfranchisement matter before the tribunal for a Brixton flat is 66 Southwell Road in March 2012. By Order of Deputy District Judge Stone dated 25 January 2012 a vesting order was made. The determination of the purchase price was referred to the Tribunal who decided that the amount payable for the freehold should be£29,612.00 This case affected 3 flats. The remaining number of years on the lease was 72.58 years.