I am purchasing a house for cash in Sydenham. I have resided for the last 15 years in Sydenham. Conveyancing searches are expensive. Given that I have knowledge of the road and vicinity intimately must I have all the conveyancing searches?
In the absence of a home loan, then all but one or two of the Sydenham conveyancing searches are non-obligatory. Your conveyancer will ’encourage you, no-doubt strongly, that you should have searches done, but he has a professional duty to do this. Do bear in mind; if you are going to dispose of the house in the future, it may be of interest to your future buyer what the searches contain. There are plenty of instances where houses with no practical issues can still throw up detrimental search results. A competent conveyancing solicitor in Sydenham will be able to give you some sensible advice here.
We're in Sydenham, FTBs buying with a mortgage (lender is Clydesdale , and our solicitor is on the Clydesdale conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Clydesdale conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I'm purchasing my first flat in Sydenham benefiting from help to buy. The sellers would not move on the amount so I negotiated five thousand pounds worth of additionals instead. The house builders rep suggested that I not to tell my lawyer about the deal as it could jeopardize my loan with the bank. Should I keep quiet?.
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.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on last month in what should have been a straight forward, no chain conveyancing. Sydenham is where the house is located. Can you offer any opinion?
Flying freeholds in Sydenham are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Sydenham you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Sydenham may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
My partner has urged me to use his lawyers for conveyancing in Sydenham. Should I choose my own property lawyer?
There are no two ways about it the ideal way to select a conveyancing lawyer is to seek feedback from friends or family who have experience in using the firm that you are considering.
Why can't I complete our conveyancing in Sydenham on May bank holiday?
Because on completion the funds needs to be transferred electronically between the banks of the buyer and seller's solicitor and currently this can only happen on a working day. So you can't complete on a weekend either.