I am acquiring a house without a mortgage in Southwark. I have resided for the last 15 years in Southwark. Conveyancing searches are expensive. Given that I know the road and vicinity intimately must I have all the conveyancing searches?
If you not getting a home loan, then almost all of the Southwark conveyancing searches are at your discretion. Your lawyer will 'advise', perhaps strongly, that you should have searches carried out, but she has a professional duty to take that path of encouragement . One thing to consider; if you are intend to dispose of the house one day, it will likely be be of relevance to your future buyer what the searches disclose. On occasion properties with apparent issues can still reveal detrimental search results. A good conveyancing solicitor in Southwark will be able to give you some constructive guidance here.
We see that you have a post code search directory identifying firms on the Co-operative conveyancing panel. Do firms pay you a referral fee if I retain them for our conveyancing in Southwark?
We are a listing service only for law firms wishing to communicate if they are on the Co-operative conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Southwark.
I am buying a semi-detached house in Southwark. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Southwark you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Southwark.
Will our lawyer be raising questions concerning flooding during the conveyancing in Southwark.
Flooding is a growing risk for solicitors dealing with homes in Southwark. Some people will purchase a property in Southwark, fully expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Solicitors are not qualified to impart advice on flood risk, but there are a number of searches that can be carried out by the purchaser or on a buyer’s behalf which will give them a better appreciation of the risks in Southwark. The standard completed inquiry forms given to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the owner to discover if the premises has historically flooded. In the event that the premises has been flooded in past which is not notified by the owner, then a buyer may bring a legal claim for losses stemming from an misleading answer. The buyer’s conveyancers may also order an environmental search. This should reveal if there is any known flood risk. If so, further investigations should be conducted.
3 months have gone by following my purchase conveyancing in Southwark completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £215,000. 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 asset 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.
How does conveyancing in Southwark differ for newly converted properties?
Most buyers of new build or newly converted property in Southwark contact us having been asked by the seller to exchange contracts and commit to the purchase even before the house is constructed. This is because builders in Southwark typically buy the site, 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 conveyancers 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 Southwark or who has acted in the same development.