The housing market in Brixton is hotting up. What can be done to accelerate the conveyancing process?
In a situation where you are under a tight deadline for your conveyancing it is highly recommended that your lawyer is familiar with the location as they will have local relationships and know-how. It is even conceivable that they would have handled otherproperties in the same neighbourhood. Therefore consider using a Brixton conveyancing lawyer. In addition, ensure that the lawyer is on the lender panel. It is said that 18% of Brixton conveyancing transactions are held up or derailed after discovering a buyer’s lawyer was not on their mortgage lender’s list of approved solicitors. This can often result in the transaction being delayed by almost 21 days. It is said that this issue impacts in the region of one hundred thousand home sales annually. Almost all Brixton conveyancing practices can not represent certain banks so do check as early as possible.
It is a dozen years since I purchased my house in Brixton. Conveyancing lawyers have recently been appointed on the sale but I am unable to track down my title deeds. Is this a problem?
You need not be too concerned. First the deeds may be with the lender or they may be in the possession of the lawyers who oversaw the purchase. Secondly the likelihood is that the property will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers obtaining current official copies of the land registers. Nearly all conveyancing in Brixton relates to registered property but in the unlikely event that your property is not registered it is more problematic but is not insurmountable.
How does conveyancing in Brixton differ for newly converted properties?
Most buyers of new build property in Brixton approach us having been asked by the builder to sign contracts and commit to the purchase even before the premises is ready to move into. This is because builders in Brixton tend to acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Brixton or who has acted in the same development.
I was recommended by two or three local property agents in Brixton to locate a conveyancer using your seach tool. Is there a financial inducement for Estate Agents to recommend your lawyers over and above alternative conveyancing organisations?
We don’t offer any referral fee for pointing buyers and sellers our way. We found it would be just too difficult to pay a commission as home movers will think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.
I've recently bought a leasehold property in Brixton. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
My wife and I have hit a brick wall in trying to purchase the freehold in Brixton. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a absentee landlord or if there is dispute about what the lease extension should cost, under the relevant statutes it is possible to make an application to the LVT to arrive at the premium.
An example of a Freehold Enfranchisement case for a Brixton property is 66 Southwell Road in March 2012. By Order of Deputy District Judge Stone dated 25 January 2012 a vesting order was made. The determination of the purchase price was referred to the Tribunal who decided that the amount payable for the freehold should be£29,612.00 This case related to 3 flats. The unexpired term was 72.58 years.