Our conveyancer has identified a a legal deficiency with the lease for the property we are purchasing in Peckham. The seller’s lawyers have put forward defective title insurance as a solution. We are happy with insurance and will pay for it. Our conveyancer has advised that he must check that the mortgage company is content with this solution. Are we the client or is the bank?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your property lawyer must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancer will have no choice but to discontinue acting for you.
I have todaydiscovered that Stirling Law have been shut down. They carried out my conveyancing in Peckham for a purchase of a leasehold apartment 18 months ago. How can I be sure that the property is not still registered in the name of the former proprietor?
The easiest method to see if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Peckham conveyancing specialists.
I'm remortgaging my primary house to a buy to let loan with Nationwide Building Society and intend to use the remaining equity towards a second house. The area we are looking at is Peckham. Will your solicitors be able to act for both sets of lenders and tie in the conveyances?
Make use of our comparison tool on this page to check that the solicitors are on the appropriate lender panels. On the basis that they are your conveyancer will be able to tie up the two deals but you should talk with you solicitor and make apparent your expectations and requirements.
My father has urged me to appoint his conveyancing solicitors in Peckham. Do I follow his guidance?
There are no two ways about it the best way to choose a conveyancing lawyer is to get referrals from friends or relatives who have actually experience in using the firm you're considering.
I’m about to sell my ground floor apartment in Peckham. Conveyancing has not commenced, however I have recently had a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?
It best that you pay the service charge as usual because all rents and maintenance charges will 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 next payment date. Most managing agents 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.
I am the proprietor of a second floor flat in Peckham. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the premium due for the purchase of the freehold?
You certainly can. We are happy to put you in touch with a Peckham conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Peckham property is 31 Kings Grove in January 2012. By a claim form issued on 11" August 2011 under action number 1LB01618 in the Lambeth County Court the applicant tenants sought dispensation under section 26 of the Leasehold Reform, Housing and Urban Development Act 1993 from the requirement to serve a notice under section 13 of that Act in order to purchase the freehold of the premises. The Tribunal decided the amount payable for the freehold as £10,728 This case related to 2 flats. The unexpired term as at the valuation date was 80.5 years.
I am contemplating appointing an online solicitor as opposed to a Peckham conveyancing practice. Should I ‘stay local’?
There are advantages of being able to attend a local Peckham conveyancing solicitor such as
- signing documents and and when necessary
- sometimes being able to speak to someone face-to-face can make a huge difference, particularly for more complex house moves
- the ability to complain if things go pear-shaped
When comparing estimates, look out for hidden extras. The majority decent Peckham high street solicitors give an all-inclusive figure. Often online companies appear to offer low cost prices, but have burried 'extras' in the fine print.