The property market in Sidcup is hotting up. What can I do to accelerate the conveyancing process?
First, If the seller is applying a tight deadline to sign contracts we would recommend that your lawyer is familiar with the area as they will benefit local contacts and know-how. It is even conceivable that they may have handled previoushouses in the same neighbourhood. You would be best advised to use a Sidcup conveyancing solicitor. In addition, check that the conveyancing firm is on the member panel. It is understood that 18% of Sidcup conveyancing deals are suspended or jeopardised after discovering a purchaser’s solicitor was not on their banks member panel. This can often result in the transaction being frustrated by almost 21 days. It is believed that this issue impacts approximately 100,000 home sales every year. Almost all Sidcup conveyancing practices can not represent certain banks so do check at the outset.
Having sold my house in Sidcup last March but my buyer keeps Skype messaging daily complaining that their lawyer needs to hear from mine. What are the post completion sale formalities now that I have sold?
Following your disposal your lawyer should forward the transfer deeds and all of the paperwork to the purchaser's conveyancer. If applicable, your lawyer should also send confirmation that the legal charge in favour of the lender has been repaid to the purchasers solicitors. There are no post completion formalities unique to conveyancing in Sidcup.
I have been told by my lawyer that lack of right of way insurance is required on my purchase. What is the level of cover for Sidcup conveyancing?
The right level of lack of right of way indemnity insurance should be dictated by who your lender. It would differ for example between Barclays and Norwich and Peterborough Building Society. Conveyancing lawyers as opposed to members of the public take out such insurances.
I recently had an offer accepted on a house in Sidcup. My mortgage broker pressured me to appoint their conveyancing practitioner. I paid an advanced payment of £150. A few days later, the property lawyer contacted me embarrassingly acknowledging that they were not on the Bank of Ireland conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Bank of Ireland panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I've read lots of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Sidcup solicitor - who is on the Leeds Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Leeds Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Leeds Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Sidcup surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I used Wolstenholmes several years ago for my conveyancing in Sidcup. I now require my papers however the law firm is no longer operating. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Sidcup of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am buying my first flat in Sidcup with a loan from Aldermore. The developers refused to budge the amount so I negotiated 6k of additionals instead. The estate agent told me not inform my lawyer about the extras as it will affect my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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 looking for a leasehold apartment up to £235,500 and found one close by in Sidcup I like with a park and station in the vicinity, however it's only got 61 years on the lease. There is not much else in Sidcup in this price bracket, so just wondered if I would be making a grave error buying a short lease?
If you need a home loan the remaining unexpired lease term will likely be an issue. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you can request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.