I require conveyancing for a flat in a relatively new development (five years old) in Streatham. 95% of the appartments are already sold. Do I need carry out the neighbourhood searches for my conveyancing in Streatham?
Conveyancing Searches are a critical link in the Streatham conveyancing process. There are numerous search providers who offer Streatham conveyancing searches, as well straight from the local authority. These are generally termed personal search organisation and they produce, not surprisingly, personal searches. However, all Local Authority Search conveyancing products have one thing in common - they must secure their information from the local authority.
When will exchange of contracts happen for domestic conveyancing in Streatham and do I need to be at the solicitors branch?
Where you are local to one of the conveyancing solicitors in Streatham you are welcome to come in to sign documents. However, the law practices we recommend provide a national conveyancing service and give as equally comprehensive and professional a job for you when dealing with you by post or email. The executing of the contract is not the critical part. Signing on the dotted line simply enables the conveyancer to exchange contracts at the suitable time, which will usually be very shortly after signing. The procedure is is usually a five minute process, although where a long "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Streatham)to be in the office available at the end of the phone to exchange contracts.
My relative suggested that if I am buying in Streatham I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is sometimes quoted for as part of the standard Streatham conveyancing searches. It is not a small report of more than thirty pages, listing and detailing important information about Streatham around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with plans and statistics, Local Amenities and other useful information concerning Streatham.
I have a terraced Georgian property in Streatham. Conveyancing solicitor represented me and Britannia. I did a free Land Registry search last week and there are two entries: the first freehold, another for leasehold with the exact same address. Is it worth asking Britannia to clarify?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Streatham and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the position with the conveyancing solicitor who conducted the purchase.
I'm buying a new build house in Streatham with the aid of help to buy. The builders refused to budge the price so I negotiated £7000 of extras instead. The house builders rep suggested that I not reveal to my solicitor about the extras as it would jeopardize my loan 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 have been on the look out for a flat up to £305k and found one close by in Streatham I like with a park and station nearby, the downside is that it's only got 61 remaining years left on the lease. I can't really find anything else in Streatham suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a mortgage that many years will likely be an issue. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you can ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.