I am told that my conveyancing solicitors will need to check that the building insurance for my purchase of a house in East Dulwich. My lender is Bank of Ireland
Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 11/3/2019, the requirements read as follows :
If you had a top tip for selecting a conveyancing solicitor in East Dulwich what would it be?
It would be unwise to be swayed by the lowest East Dulwich conveyancing costs illustration. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I just bought a property at auction in East Dulwich. Conveyancing is required. What happens now?
Given that you have now for in every practical sense signed on the dotted line you should instruct a conveyancing solicitor soon as you will have a fast approaching deadline in which to complete the deal. An auction property will have an associated legal set of papers. This should include most,if not all of the paperwork that your conveyancer will need. In the case of leasehold property the conveyancing papers may provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to a leasehold property. You must give this to your appointed conveyancing solicitor as soon as possible. Do make sure that that you have the requisite funding organised to complete the transaction on the set completion date.
How can we know in advance if a East Dulwich conveyancing solicitor on the Coventry BS panel is any good?
When it comes to conveyancing in East Dulwich seeking recommendations is a good start. 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 which is cheap as chips. We would always suggest that you speak with the lawyer carrying out your conveyancing.
3 months have gone by following my purchase conveyancing in East Dulwich completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in East Dulwich differ for new build properties?
Most buyers of new build or newly converted property in East Dulwich contact us having been asked by the seller to exchange contracts and commit to the purchase even before the property is constructed. This is because builders in East Dulwich tend to buy 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 property lawyers 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 East Dulwich or who has acted in the same development.
I am hoping to sign contracts shortly on a basement flat in East Dulwich. Conveyancing solicitors have said that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in East Dulwich should include some of the following:
Who has the liability for repairing the window frames Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? Setting out your legal entitlements in respect of common areas in the building.For example, does the lease grant a right of way over an accessway or staircase? What options are available to the landlord where you have breached the provisions of the lease? You would want to be sent a copy of the lease
I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a East Dulwich conveyancing firm to help?
Where there is a absentee landlord or where there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to arrive at the amount due.
An example of a Lease Extension case for a East Dulwich residence is Flat 1 40-42 Ewelme Road in August 2012. the Tribunal assessed the premium for the lease extension in the sum of £11,800 This case affected 1 flat. The unexpired residue of the current lease was 61.81 years.
I am expecting to exchange on the purchase a property in East Dulwich but as a result of wreckage from the recent storms I have negotiated reparation from the vendor of £3k in the form of a adjustment in the price. I had intended this to be addressed as part of the conveyancing process yet the lender will not agree to this. Why were they notified?
The property lawyer that is on the bank conveyancing panel is duty bound to inform the lender of any changes to the sale price. If you were to refuse your lawyer to report the reduction to your mortgage company then they would have to refrain from representing you and the mortgage company.