Just bought a detached house in Streatham , how long will it take for the Land Registry to register my proprietorship? My Streatham conveyancing solicitor has been painfully slow, so I want to be sure that my ownership is registered.
As far as conveyancing in Streatham registration is no quicker or slower than the rest of England and Wales. As opposed to being determined by geographic area, timeframes can adjust according to the party submitting the application, whether there are errors and if the Land registry communicate with any 3rd parties. As of today in the region of 80% of submission are fully addressed within two weeks but some can be subject to longer hold-ups. Historically registration occurs after the new owner is living at the property so 'speed' is not typically top priority yet if there is a degree of urgency associated with the registration then you or your lawyers must communicate with the Registry to express the reasoning for an expedited registration.
How does conveyancing in Streatham differ for new build properties?
Most buyers of new build residence in Streatham contact us having been asked by the developer to sign contracts and commit to the purchase even before the residence is ready to move into. This is because builders in Streatham typically acquire the land, 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 accustomed to new build conveyancing in Streatham or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a simple, no chain conveyancing. Streatham is where the house is located. Can you shed any light on this issue?
Flying freeholds in Streatham are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Streatham you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Streatham may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.