What will a local search inform me concerning the property I am buying in London?
London conveyancing often starts with the applying for local authority searches directly from your local Authority or through a personal search company such as Xpress Legal The local search plays an important role in many a London conveyancing purchase; that is if you don’t want any nasty surprises after you move into your new home. The search will supply information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject areas.
Are there restrictive covenants that are commonly identified during conveyancing in London?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in London. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I have been on the look out for a leasehold apartment up to £305k and identified one near me in London I like with a park and transport links nearby, however it's only got 49 years on the lease. I can't really find anything else in London for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a mortgage that many years will likely be problematic. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this.
My husband and I are first time buyers - agreed a price, yet the selling agent advised that the owners will only proceed if we instruct their preferred conveyancers as they need a ‘quick sale’. Our preferred option is to instruct a local conveyancer with experience of conveyancing in London
It is unlikely the sellers are driving this. If they desire ‘a quick sale', turning down a serious buyer is not the way to achieve this. Speak to the owners direct and explain that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you wish to move quickly (e)but you will continue to appoint your preferred London conveyancing lawyers - not the ones that will earn the estate agent a referral fee or meet his conveyancing figures pre-set by senior management.
I would be grateful if you could explain what options are open to me if my London conveyancing searches reveals detrimental results?
Normally, almost all adverse entries that arise in London conveyancing search responses can be dealt with before completion or indemnity insurance may be put on cover. It is crucial to note that even though you are acquiring the property and may be willing to live with the search results, your mortgage lender may not, and ultimately they have the final say.