I am buying a property mortgage free in Peckham. I have resided for the previous 15 years in Peckham. Conveyancing searches are a lot of money. Given that I have knowledge of the road and vicinity intimately should I not bother getting the solicitor to do all the conveyancing searches?
If you not getting a mortgage, then all but one or two of the Peckham conveyancing searches are at your discretion. Your conveyancer will 'advise', perhaps strongly, that you should have searches carried out, but she has a professional duty to take that path of advice. Do take into account; if you are going to sell the house at a future date, it may be of importance to your prospective buyer what the searches determine. There are plenty of instances where houses with apparent issues can still throw up adverse search results. A competent conveyancing solicitor in Peckham should provide you some constructive guidance concerning this.
Why do I have to pay up front for conveyancing in Peckham?
If you are buying a property in Peckham your solicitor will ask you put them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. If any deposit is payable against the total price then this should be asked for shortly in advance of exchange of contracts. Any further balance that is due will be payable shortly before completion.
My wife and I have recently appointed a conveyancing solicitor in Peckham. I I am struggling to find out whether they are on the Britannia conveyancing panel. Could you or the lender confirm if they are on the panel?
The first thing to do is call your solicitor and enquire whether they can act for the bank. Alternatively you can get in touch with Britannia who may be able to assist.
I moved into my home on 1 November and the transaction details is yet to be registered. Any reason for this? My conveyancing solicitor in Peckham advises it should be concluded inside ten days. Are titles in Peckham uniquely lengthy to register?
As far as conveyancing in Peckham registration is no faster or slower than the rest of England and Wales. Rather than based on location, timeframes can vary depending on the party submitting the application, whether it is in order and if the Land registry have to notify any other persons or bodies. At present approximately three quarters of such applications are completed in less than three weeks but occasionally there can be protracted hold-ups. Historically registration occurs after the purchaser has moved in to the premises so post completion formalities is not typically an essential issue yet where it is urgent that the the registration takes place urgently then you or your conveyancer must communicate with the Registry to express the reasoning for the application to be prioritised.
Over the last few months I have been searching for a flat up to £245,000 and identified one close by in Peckham I like with a park and railway links in the vicinity, however it only has 52 years on the lease. There is not much else in Peckham suitable, so just wondered if I would be making a mistake purchasing a short lease?
If you require a mortgage that many years will be an issue. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.