It is a dozen years since I purchased my property in East Dulwich. Conveyancing solicitors have just been appointed on the sale but I can't track down my deeds. Is this a problem?
Don’t worry too much. First the deeds may be kept by the mortgage company or they could be archived with the lawyers who handled the purchase. Secondly the likelihood is that the title will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers obtaining up to date copy of the land registers. The vast majority of conveyancing in East Dulwich relates to registered property but in the rare situation where your home is unregistered it is more problematic but is not insurmountable.
What happens if my solicitor is expelled from the UBS Solicitor panel ahead of completing my conveyancing in East Dulwich?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Are there restrictive covenants that are commonly identified as part of conveyancing in East Dulwich?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in East Dulwich. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in East Dulwich differ for new build properties?
Most buyers of new build property in East Dulwich come to us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is completed. This is because house builders in East Dulwich tend to purchase 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.
Due to the input of my in-laws I had a survey completed on a house in East Dulwich ahead of appointing conveyancers. I have been advised that there is a flying freehold aspect to the house. My surveyor has said that some lenders will refuse to issue a mortgage on this type of house.
It depends who your proposed lender is. HSBC has different instructions from Halifax. If you e-mail us we can investigate further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in East Dulwich. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in East Dulwich to see if the conveyancing will be more expensive.
I have given up trying to purchase the freehold in East Dulwich. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a absentee landlord or where there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the LVT to assess the sum to be paid.
An example of a Lease Extension decision for a East Dulwich property 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 related to 1 flat. The unexpired term as at the valuation date was 61.81 years.
When it comes to leasehold conveyancing in East Dulwich what are the most frequent lease problems?
Leasehold conveyancing in East Dulwich is not unique. All leases are unique and legal mistakes in the legal wording can result in certain sections are erroneous. The following missing provisions could result in a defective lease:
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A duty to insure the building
You could encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, The Royal Bank of Scotland, and Platform Home Loans Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the purchaser to withdraw.