I am under pressure from the seller of a property in East Dulwich to sign contracts within four weeks. What can I do to quicken up the buying process?
In a situation where you are under pressure for your conveyancing we would recommend that your solicitor is familiar with the location as they will have local connections and know-how. It is even conceivable that they could have handled otherproperties in the same road. Therefore consider using a East Dulwich conveyancing solicitor. In addition, ensure that the lawyer is on the member panel. It is said that nearly one in five of East Dulwich conveyancing deals are delayed or derailed after discovering a buyer’s lawyer was not on their banks member panel. This can often result in the legal transfer of property being delayed by almost 21 days. It is believed that this issue affects in the region of 100,000 home moves every year. Almost all East Dulwich conveyancing practices can not act for certain lenders so do check at the outset.
I have been told by my conveyancer that defective lease insurance is required on my purchase. What is the level of cover for East Dulwich conveyancing?
The right level of defective lease indemnity insurance depends on who your lender is. It would differ for example between National Westminster Bank and Norwich and Peterborough Building Society. Conveyancing lawyers as opposed to borrowers take out such insurances.
When it comes to mortgage companies such as Leeds Building Society, do East Dulwich conveyancers face an annual charge to be on the conveyancing panel?
We are unaware of any bank fees to register on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
Completion of my remortgage has taken place for my property in East Dulwich. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
All banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. In most cases complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I am looking for a leasehold apartment up to £305k and identified one round the corner in East Dulwich I like with open areas and railway links in the vicinity, the downside is that it's only got 49 remaining years left on the lease. I can't really find anything else in East Dulwich for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a home loan the remaining unexpired lease term may be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of twenty four months you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
Hoping to buy a property located in East Dulwich and I am already nervous. I couldn't find anything specific about East Dulwich. Conveyancing will be needed in due course but do you know about the East Dulwich area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at East Dulwich. In the meantime here are some basic statistics that we found
I've recently bought a leasehold property in East Dulwich. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a East Dulwich conveyancing firm to assist?
if there is a absentee freeholder or where there is dispute 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 First-tier Tribunal (Property Chamber) to judgment on the amount due.
An example of a Lease Extension case for a East Dulwich flat is Flat 1 40-42 Ewelme Road in August 2012. the Tribunal assessed the premium for the lease extension in the sum of £11,800 This case was in relation to 1 flat. The remaining number of years on the lease was 61.81 years.
When it comes to my conveyancing in East Dulwich should I be charged VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some East Dulwich conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the solicitor's time in submitting the funds this way.