The Deptford conveyancing firm that just started acting on my purchase in Deptford have without warning shut down. They were on acting for me because I had to have a solicitor on the Yorkshire BS conveyancing panel and my family Deptford lawyer was not. I paid them funds in advance. What are my options?
If you have an estate agent involved then let them know straight away so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Yorkshire BS conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to assist.
Do commercial conveyancing searches reveal impending roadworks that could impact a commercial premises in Deptford?
Its becoming the norm that commercial conveyancing solicitors in Deptford will execute a SiteSolutions Highways report as it reduces the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Deptford. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Deptford.
For every commercial conveyancing transaction in Deptford it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately could result in delays to Deptford commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not ordered for residential conveyancing in Deptford.
It has been three months since my purchase conveyancing in Deptford 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.
I am purchasing my first flat in Deptford with a mortgage from Bank of Ireland. The sellers refused to budge the price so I negotiated £7000 of additionals instead. The property agent suggested that I not inform my solicitor about the deal as it could adversely affect my mortgage with the lender. Is this normal?.
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 UK Finance website. UK Finance 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.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and found one near me in Deptford I like with open areas and railway links nearby, the downside is that it's only got 49 years unexpired on the lease. There is not much else in Deptford in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a mortgage that many years will be an issue. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.
I'm refinancing my existing home to a BTL loan with Chelsea Building Society and intend to use the remaining equity as a down payment on another property. The area we are talking about is Deptford. Will your solicitors be able to act for both sets of mortgage companies and link together the two deals?
Make use of our comparison tool on this site to be sure that the conveyancers are approved by both mortgage companies. On the basis that they are the solicitor should be able to tie up the two transactions but you should talk with you solicitor and make apparent your desired outcome and needs.