It is is a decade since I bought my home in Peckham. Conveyancing solicitors have recently been instructed on the sale but I am unable to locate the title deeds. Will this jeopardise the sale?
You need not be too concerned. First there is a chance that the deeds will be retained by the lender or they may stored with the conveyancers who handled the purchase. Secondly in all probability the land will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors acquiring current official copies of the land registers. Most conveyancing in Peckham involves registered property but in the unlikely event that your property is not registered it adds to the complexity but is resolvable.
Me and my partner are buying a property in Peckham. I might seem paranoid but how we can trust a solicitor? At some point we will need to send money into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I happen to be the only recipient of my late grandmother’s will and I have everything in my name now, including the my former home in Peckham. The Peckham property was put into my name in April. I plan to dispose of the house. I do know about the Mortgage Lenders 6 month 'rule', meaning my property ownership could be considered the same way as if I'd bought the house in April. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. Some mortgage companies would take a sensible view as this provision is chiefly there to identify subsales or the wholesaling and assigning of property.
We were going to get a AIP from Coventry BS this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Coventry BS recommend any Peckham solicitors on the Coventry BS conveyancing panel, or is it better to go independently?
You will need to appoint Peckham solicitors independently although you'll need to choose one on the Coventry BS conveyancing panel. The solicitor represents both you and Coventry BS through the process.
five months have gone by since my purchase conveyancing in Peckham took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £180,000. 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 residence 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.
About to purchase a new build apartment in Peckham. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Peckham
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Forfeiture - bankruptcy or liquidation must not apply under this provision.
Due to the input of my in-laws I had a survey completed on a house in Peckham ahead of retaining conveyancers. I have been informed that there is a flying freehold overhang to the house. Our surveyor advised that some mortgage companies tend refuse to issue a loan on a flying freehold property.
It depends who your proposed lender is. Lloyds has different instructions from Halifax. Should you wish to telephone us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Peckham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Peckham to see if the conveyancing will be more expensive.
Should I be concerned by estate agents that I am dealing with are suggesting a nationwide conveyancing firm rather than a local Peckham conveyancing practice?
As with many service providers, often referrals from family and friends can be worth their weight in gold. Yet there are numerous players in a conveyancing matter; estate agents, mortgage brokers and mortgage companies may suggest solicitors to instruct. On occasion the lawyers might be known to one of the organisations as being good in their field, but sometimes there exists a financial incentive behind the endorsement. You have the right to appoint your preferred lawyer. You need to be aware that the majority of banks have an approved list of lawyers you must use for the mortgage aspect of your transaction.