I am need of leasehold conveyancing for a flat in a relatively new development (6 years old) in Otford. 95% of the properties have already been occupied. Is it really necessary to order conveyancing searches for my conveyancing in Otford?

Where you are obtaining a mortgage, your bank will insist on some (many) of the searches so you'll have no choice. If not, then Otford conveyancing searches are for you to decide upon. Your lawyer, will 'advise', perhaps in the strongest possible terms, that you should have the searches done, but he or she has a professional duty to do this. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you insist that your lawyer to proceed without searches then your lawyer will have to follow your instructions or it may be necessary to find a new lawyer for your conveyancing in Otford.

When can the exchange of contracts occur in domestic conveyancing in Otford and am I required to attend the solicitors office?

Where you are round the corner to one of the conveyancing solicitors in Otford you are welcome to attend to sign contracts. However, the lender approved solicitors we recommend provide countrywide coverage for conveyancing and give as equally comprehensive and professional a job for you when communicating with you electronically. The executing of the sale agreement is not when everything is set in stone. A signed contract is just a prerequisite for the firm to address the formalities at the suitable time, which will usually be very shortly after signing. The exchange process is is usually a five minute process, although where a long "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Otford)to be in the office available at the end of the phone to exchange contracts.

I am considering applying for a Principality mortgage for purchase of a new build (under development) in Otford with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Principality ?

There is nothing to stop you using your solicitor, but Principality will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.

I am looking for a leasehold apartment up to £305k and found one near me in Otford I like with amenity areas and railway links in the vicinity, the downside is that it only has 61 remaining years left on the lease. I can't really find anything else in Otford in this price bracket, so just wondered if I would be making a mistake buying a short lease?

Should you need a home loan that many years will be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.

Can you offer any advice when it comes to choosing a Otford conveyancing practice to deal with our lease extension?

If you are instructing a property lawyer for lease extension works (regardless if they are a Otford conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We suggest that you talk with several firms including non Otford conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be of use:

If the firm is not ALEP accredited then what is the reason?

Otford Leasehold Conveyancing - A selection of Questions you should ask before Purchasing

This question is helpful as a) areas may cause problems in the block as the common areas may start to deteriorate if maintenance remain unpaid b) if the leaseholders have a dispute with the managing agents you will wish to have all the details Who are the managing agents? Its a good idea to discover as much as you can concerning the company managing the block as they will either make your living at the property much easier or uncomfortable. As the owner of a leasehold property you are often at the mercy of the managing agents from a financial perspective and when it comes to every day issues like the tidiness of the communal areas. Ask prospective neighbours if they are happy with them. On a final note, find out the dates that you are obliged pay the service charge to the managing agents and precisely how they are spending the funds.