We instructed a local firm for our conveyancing in South East London recently. After carefully reading the fine print it is apparent thatI am liable for costs even where the transaction does not complete. Should I ditch them and use an internet conveyancing brokerage promising no completion no cost conveyancing in South East London?
It is usually ‘give and take’ in that if "No Sale No Fee" is available then the fee levels will tend to be be more expensive to counteract those transactions that do not proceed. Also remember that these schemes tend not to cover disbursements such as South East London conveyancing search costs.
Would the conveyancing solicitors that are recommend handle auction conveyancing in South East London?
We know of a number of auction lawyers we can connect you with those who can conduct auction conveyancing. South East London is one of hundreds of areas of in which our lawyers have a presence.
I purchased a freehold house in South East London yet pay rent, why is this and what is this?
It’s unusual for properties in South East London and has limited impact for conveyancing in South East London but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
Please explain the implications if my solicitor is suspended from the Virgin Money Conveyancing panel ahead of completing my conveyancing in South East London?
The first thing to point out is that, 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.
I’m about to sell my basement flat in South East London. Conveyancing lawyers have not yet been instructed, however I have just had a quarterly service charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should discharge the service charge as normal because all rents and service charges will be allotted on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until 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 have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a South East London conveyancing firm to act on my behalf?
if there is a absentee freeholder or if there is disagreement 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 Leasehold Valuation Tribunal to determine the premium.
An example of a Freehold Enfranchisement matter before the tribunal for a South East London property is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case affected 1 flat. The number of years remaining on the existing lease(s) was 73.26 years.
Should I be concerned if there is an issue with the searches conducted as part of my conveyancing in South East London?
On the whole, almost all issues arising from South East London conveyancing search results can be addressed before completion or indemnity insurance could possibly be obtained. You should remember that even though you may be purchasing the premises and may be content to live with the search results, your lender may not, and ultimately the decision rests with them.