I require conveyancing for an apartment in a relatively new development (seven years old) in Peckham. Almost all the properties are already disposed of. Is it really necessary to order neighbourhood searches for my conveyancing in Peckham?
Conveyancing Searches are a critical link in the Peckham conveyancing process. There are a large number of search providers delivering Peckham conveyancing searches, as well straight from the local authority. These are usually referred to as personal search organisation due to them carrying out, personal searches. Nevertheless, all Local Authority Search conveyancing products have one thing in common - they must secure their information from the local authority.
Please explain the implications if my lawyer’s firm is removed from the Bank of Ireland Solicitor panel ahead of completing my conveyancing in Peckham?
The first thing to point out is that, this is very unlikely to happen. 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.
It has been 2 months since my purchase conveyancing in Peckham completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £180,000. 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 residence 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.
I'm converting the mortgage on my current home to a BTL mortgage with Nationwide Building Society and I will use the rest of the raised equity as a down payment on another house. The area we are talking about is Peckham. Will your lawyers be able to act for the two mortgage companies and tie in the two deals?
Do use our search tool on this page to check that the lawyers are on the relevant lender panels. On the basis that they are the conveyancer will be able to simultaneously deal with the two deals but you should have a chat with you conveyancer and communicate your desired outcome and needs.
I today plan to offer on a house that seems to meet my requirements, at a reasonable price which is making it more attractive. I have just been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Peckham. Conveyancing advisers have are soon to be appointed. Will they explain the issues?
The majority of houses in Peckham are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Peckham so you should seriously consider shopping around for a Peckham conveyancing practitioner and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’sconsent to conduct changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your solicitor will report to you on the legal implications.
I am the leaseholder of a a ground floor purpose built flat in Peckham. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the premium due for a lease extension?
Most certainly. We can put you in touch with a Peckham conveyancing firm who can help.
An example of a Freehold Enfranchisement case 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 was in relation to 2 flats. The unexpired term was 80.5 years.
We have been advised by numerous estate agents that it should take 6-8 weeks for Peckham conveyancing to complete.This was a month ago. The property information was only received to my lawyer a few days ago so now does it countdown?
You need to be realistic about timelines. Conveyancing in Peckham usually takes about ten weeks. This timeframe is not due to conveyancer being slow and purposely delay matters. The amount of money involved in purchasing any residence is so high, the buyer’s solicitor needing to raise a whole range of questions, searches and further checks to protect the buyer and their mortgage company (if there is to be a mortgage) from expensive, avoidable problems. These checks involves obtaining information from a range of different parties, including other conveyancer, local councils, private companies, mortgage companies. Many of these are well organised. Others are not. It is worth noting that, no matter how quickly your solicitor do their job, if the people you are buying from or are selling to aren't ready, nothing can move forward until they are up to speed.