The housing market in South Woodford is heating up. What can I do to expedite matters?
In the event that the seller is applying a tight deadline to exchange we would recommend that your lawyer is familiar with the area as they will have local relationships and know-how. It is possible that they could have transacted previoushouses in the same neighbourhood. Therefore consider using a South Woodford conveyancing firm. Second, double check that the conveyancing firm is on the on the approved list for your mortgage company. It is claimed that 18% of South Woodford conveyancing deals are delayed or jeopardised after finding out that a purchaser’s solicitor was not on their mortgage lender’s list of approved solicitors. In many cases this discovery resulted in the home move being held up by as much as three weeks. It is understood that this issue impacts in the region of 100,000 home moves every year. Most South Woodford conveyancing practices can not act for certain banks so do check at the outset.
What is the optimum way to discover of the solicitor carrying out my conveyancing in South Woodford is on the bank’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for The Royal Bank of Scotland thus paying £187.00 plus VAT in another set of legal bill.
You should take advantage of the find a lender approved solicitor tool on this site. Pick the lender and type ‘South Woodford’ or your preferred area and you will see numerous conveyancers offices in South Woodford or by proximity to you.
We are close to exchanging contracts on the sale of our house in South Woodford and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. Any high street South Woodford conveyancer would know this is not the case. For the life of me I don't know why the buyers instructed a factory type conveyancing practice rather than a conveyancing solicitor in South Woodford. We have lived in South Woodford for three years we know of no issue. Should we get in touch with our local Authority to get confirmation that there is no issue.
It would appear that you have a conveyancing firm currently acting for you. What do they say? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
I'm buying my first flat in South Woodford with a mortgage from Virgin Money. The builders would not move on the amount so I negotiated 6k of fixtures and fittings instead. The sale representative suggested that I not reveal to my conveyancer about this extras as it will adversely affect my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I have been on the look out for a ground for flat up to £305k and identified one round the corner in South Woodford I like with a park and railway links in the vicinity, however it's only got 49 years unexpired on the lease. I can't really find anything else in South Woodford suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you need a mortgage that many years may be problematic. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least twenty four months you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
I have just started marketing my 2 bed apartment in South Woodford.Conveyancing solicitors are to be appointed soon however I have recently had a yearly maintenance charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is pay the invoice as you normally would because all ground rent and maintenance payments should be apportionedon completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most managing agents 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. Having a clear account will assist your cause and will leave you no worse off financially