Much to our surprise we have been advised by our lender that my Peckham property lawyer is not on the bank Conveyancing panel. What can I do to be certain whether this is indeed the case?
The first thing you need to do is to contact your Peckham conveyancer. It is reasonable to expect your lawyer to advise you of the situation. If they are not on the panel they may recommend you to a Peckham conveyancing firm that is on the conveyancing panel for your mortgage company.
I am downsizing from our house in Peckham and the buyers lawyers are claiming that there is a possibility that the property was built on contaminated land. Any high street Peckham conveyancer would know that there is no such problem. It does beg the question why the purchasers used a web based conveyancing outfit rather than a conveyancing solicitor in Peckham. Having lived in Peckham for 5 years we know of no issue. Should we contact our local Authority to get confirmation that the buyers are looking for.
It would appear that you have a conveyancing firm already. Are they able to advise? You should 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 life insurance to cover that same sickness)
three months have elapsed following my purchase conveyancing in Peckham took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. 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 Peckham differ for new build properties?
Most buyers of new build premises in Peckham approach us having been asked by the developer to exchange contracts and commit to the purchase even before the property is constructed. This is because developers in Peckham usually 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 property lawyers 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 accustomed to new build conveyancing in Peckham or who has acted in the same development.
I am looking for a flat up to £245,000 and identified one near me in Peckham I like with a park and railway links in the vicinity, however it only has 51 years on the lease. I can't really find anything else in Peckham in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a mortgage the remaining unexpired lease term may be problematic. Discount the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for at least twenty four months you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.
My fiance is buying a garden flat in Peckham. He was given a quote by the conveyancing practitioner connected to the estate agents and it came to £1156 . It was seven years ago since I sold and purchased a house and it cost was £450. Have charges really escalated to that extent?
What does the conveyancing estimate include? Is it just for the legal fees, or what you will be paying in total (for instance Peckham searches, land registry fees, etc)