We are about to exchange contracts for a ground floor flat in Peckham. We have hit a stumbling block. The mortgage offer with Aldermore runs out on 24/2/2025 but the owners are suggesting a completion date of 26/2/2025. Can one prolong the mortgage expiry date?
The person best placed to deal with your issue is your conveyancer who will hopefully determine if he or she is corresponding with the mortgage company, owner’s solicitors, property agents or conceivably all three taking into account the circumstances your transaction to date.
Various online forums that I have visited warn that are the primary cause of hinderance in Peckham conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not figure within the top 10 causes of delays in the conveyancing process. Local searches are unlikely to be the root cause of slowing down conveyancing in Peckham.
I have todaybecome aware that Arc property Solicitors have closed. They conducted my conveyancing in Peckham for a purchase of a leasehold apartment 9 months ago. How can I be sure that the property is in my name in the name of the former proprietor?
The quickest way to check if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Peckham conveyancing specialists.
I'm buying my first flat in Peckham with a loan from Birmingham Midshires. The sellers refused to budge the amount so I negotiated 6k of fixtures and fittings instead. The property agent told me not reveal to my solicitor about this extras as it would impact my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML 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.
I am a sole trader looking to take an assignment of a lease of a shop on a shopping parade. Can you recommend lawyers offering no-sale-no charges for non-domestic conveyancing in Peckham for under 1500k?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Peckham, including the sale and purchase of businesses as well as simply property. Whether you are looking to acquire or lease a shop, pub, restaurant, office, retail premises or a whole business we can find you the right lawyer. Regarding the charges these will vary based on the structure and complexity of the deal. Please provide us with your contact information or call so as to enable us to furnish you with a detailed commercial conveyancing calculation.
I am tempted by the attractive purchase price for a two apartments in Peckham both have about 50 years left on the leases. Will this present a problem?
There are plenty of short leases in Peckham. The lease is a right to use the premises for a prescribed time frame. As the lease shortens the saleability of the lease decreases and results in it becoming more expensive to extend the lease. For this reason it is advisable to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this area.
I have given up seeking a lease extension in Peckham. Can the Leasehold Valuation Tribunal adjudicate on premiums?
You certainly can. We can put you in touch with a Peckham conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Peckham premises is 31 Kings Grove in January 2012. By a claim form issued on 11" August 2011 under action number 1LB01618 in the Lambeth County Court the applicant tenants sought dispensation under section 26 of the Leasehold Reform, Housing and Urban Development Act 1993 from the requirement to serve a notice under section 13 of that Act in order to purchase the freehold of the premises. The Tribunal decided the amount payable for the freehold as £10,728 This case related to 2 flats. The unexpired lease term was 80.5 years.