We are purchasing a restored chapel in the parish of Willesden. Should we order a chancel search?
Your property lawyer could advise a chancel search, whichever parish in which the property being purchased is located. In Rotherhithe's much older areas, chancel repair has the potential to be imposed on owners of a property where parish councils may have spared previous owners or tenants. Even if liability is unlikely, indemnity insurance is a sensible precaution.
Should I accept an offer on my home if I haven’t found one to buy?
From your prospective buyer’s standpoint, they are not going to want to wait around for you to find somewhere to move to necessarily, meaning that they might drop out of the process to look for a property that is more readily available. However, you might want to have the discussion with your estate agent as to the best way to manage this as part of the process of putting your house on the market.
It’s not always going to be easy for everyone in the chain to have everything lined up from mortgage offers, sale price agreements, solicitors, surveys and so on. Therefore, you can be honest and tell your prospective buyer that, while you’re accepting the price, you haven’t completed your part in the chain; if they are unhappy with this, your other option is to consider a short-term rental or moving in with friends temporarily to protect the sale.
With our experienced solicitors at low, fixed-fee quotes with 'No Completion, No Fee' protection, Homeward Legal is in the best position to look after your conveyancing. Call us now on 0800 038 6699 to get started.
Does your firm get involved in the legal conveyancing of auction properties in Rotherhithe?
Our firm is accustomed to working with residential property auction procedures. Frequently difficult to value auction lots e. g. un-mortgageable properties, are sold in auctions which want more exploration before exchange. We therefore suggest purchasers to choose a qualified property conveyancing lawyer in advance of the day of the auction to allow time for a review of the legal pack. Thereafter, following the day of bidding a property conveyancing lawyer needs to be able to concentrate on finish the legal side of things within a month as conventionally required by the standard auction conditions.
How does a Help to Buy scheme work for me?
This government-sponsored scheme aims to assist homebuyers with three ways of purchasing a property:
- Help to Buy ISA - if you are a first-time buyer and don’t own any other property (anywhere in the world), and you don’t have another cash ISA opened in the same tax year, when you buy your first home, the solicitor will apply for the government bonus on your behalf when closure of your Home to Buy ISA used to buy the property is confirmed.
- Help to Buy: Equity Loan - if you have no other property and are buying a newly-built home, the government will provide 20% of the cost of the house (up to a maximum of £600,000), leaving you with the saved 5% deposit and a 75% mortgage to cover the remainder. This is open to current homeowners and first-time buyers, and the home cannot be sublet nor can it be used in a part-exchange deal.
- Help to Buy: Shared Ownership - if your household earns less than £80,000, you could be eligible for this scheme, which allows you to buy between 25% and 75% of the home’s value, while the government pays the remainder on which you would then pay rent.
(information retrieved from HM Government’s Help to Buy website on 16 April 2019).
Contact the Money Advice Service, the government’s Help to Buy website, or your local ‘Help to Buy’ agent for more information.
Of the main Rotherhithe mortgage lenders, who is on your panel?
Homeward Legal are able to work with the majority of lenders providing financing to Rotherhithe homebuyers. Lenders and mortgage specialists in Rotherhithe include Oskat, 189 Southwark Pk Rd, London, SE16 3TX, Instant Mortgages Ltd, 376 High Rd, Woodford Green, IG8 0XQ, and Essence Finance Agent, Basement Office/8 Fordham St, London, E1 1HS. The property lawyer handling your case will be able to address any specific requests your lender may have.
What can we do if we invest in a building in a Southwark planning authority designated conservation area ?
Part of conveyancing for buyers includes making enquiries of Southwark planning authority to confirm conservation area status and the existence of formal approval for any modifications. These are not fees and are charged at cost to the purchaser.
Which local authority is responsible for Rotherhithe?
Rotherhithe is located in London Borough of Southwark Council, Town Hall, Peckham Road, London, SE5 8UB, contact: 020 7525 5005
If I want to build an extension or do other works once I move in, can I get a builder to visit to give me a quote?
There is nothing stopping you trying to organise this, so long as you set a date and time that’s acceptable to the vendor (or via their estate agent if they are unable to be there) and try to establish how long the process will take, so that this can be booked in.
This becomes particularly critical following a surveyor’s inspection where remedial works are identified and recommended. You can use the quote from the builder as a renegotiation tool on the asking price, if the work required is going to be particularly costly. If you decide to go down this route, it must be done before exchange of contracts (where you’re committing to the sale price) and you should inform your solicitor if you’ve had private discussions and agreements with the vendor over price for inclusion in the terms of the contract.