The owners of the property we are looking to purchase have instructed a conveyancing firm in Lewisham who has recommended a preliminary agreement with a deposit 6,000. Are such agreements sensible?
Lock out contracts are agreements between a property vendor and prospective acquirer giving the buyer a ‘clear field’ to the sale of the premises within an agreed time frame. For all intents and purposes, a lock out agreement is a contract specifying that you will receive a contract at a later date which is the main conveyancing contract. It is generally used for buyer confidence though in many situations, the vendor may enjoy an upside from such agreements as well. There are many pros and cons to having an agreement but you should to check with your solicitor but note that it may result in costing you more in conveyancing fees. For these reasons these contracts are avoided when it comes to conveyancing in Lewisham.
My apartment in Lewisham is up for sale and I have a purchaser. Will my solicitor have to be on the UBS conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the UBS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently in recent years.
What does a local search reveal regarding the house I am buying in Lewisham?
Lewisham conveyancing often starts with the ordering local authority searches directly from your local Authority or via a personal search organisations for example Searches UK The local search plays a central part in many a Lewisham conveyancing purchase; that is if you wish to avoid any unpleasant surprises after you move into your new home. The search should supply data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic sections.
It has been 3 months since my purchase conveyancing in Lewisham completed. I have checked the Land Registry website which shows that I paid £175,000 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.
Due to the input of my in-laws I had a survey completed on a property in Lewisham prior to appointing lawyers. I have been advised that there is a flying freehold element to the property. The surveyor advised that some lenders will not grant a mortgage on a flying freehold property.
It depends who your proposed lender is. Santander has different requirements for example to Halifax. Should you wish to telephone us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Lewisham. Conveyancing will be smoother if you use a solicitor in Lewisham especially if they regularly deal with such properties in Lewisham.
I am using a search engine for the term conveyancing in Lewisham it brings up many property lawyersin the area. With so much choice what is the best way to find the suitable conveyancer for the sale of my house?
The best way of finding a suitable conveyancer is via personal testimonial, so ask friends and family who have acquired a property in Lewisham or a respected estate agent or mortgage broker. Fees for conveyancing in Lewisham differ, so it's advisable to obtain at least three costs illustrations from varying types of companies. Make sure that you clarify that the fees are fixed.