My brother and I have lately acquired a property in Low Moor. We have since encountered a number of issues with the property which we believe were overlooked in the conveyancing searches. Is there anything we can do? What searches should? have been ordered for conveyancing in Low Moor?
It is not clear from the question as to the nature of the problems and if they are unique to conveyancing in Low Moor. Conveyancing searches and due diligence initiated as part of the legal transfer of property are designed to help avoid problems. As part of the legal transfer of property, a seller fills in a questionnaire known as a Seller’s Property Information Form. If the information proves to be incorrect, you could possibly take legal action against the vendor for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Low Moor.
I am aiming to move house in July. Should my conveyancing solicitor liaise with the removal company on the day of completion. On a separate note, can you put forward a removal company in Low Moor. Conveyancing solicitor was found before I stumbled across this website.
On the day of completion you will need to pick up the house keys from your property agent but this should only happen after the previous owners conveyancers advise the agent that the monies to complete are in and the keys can be released. Subsequently you will need to tell the removal men that they can start moving you in. We are not in a position to recommend a particular removal organisation but can help you locate a residential property solicitor in Low Moor or a firm with expertise in conveyancing in Low Moor.
Completion of my remortgage has taken place for my property in Low Moor. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
All banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. Ordinarily complaints to a lender are sorted out effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
I recently had an offer accepted on an apartment in Low Moor. My financial adviser pressured me to appoint their property lawyer. I paid an upfront payment of £150. A couple of days later, the conveyancing practitioner called me to say that they were not on the RBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the RBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Will my solicitor be raising questions regarding flooding during the conveyancing in Low Moor.
Flooding is a growing risk for lawyers specialising in conveyancing in Low Moor. Plenty of people will acquire a house in Low Moor, completely aware that at some time, it may be flooded. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the premises. Steps can be carried out during the course of a property purchase to forewarn the purchaser.
Solicitors are not best placed to offer advice on flood risk, however there are a number of checks that can be initiated by the buyer or by their solicitors which will give them a better appreciation of the risks in Low Moor. The conventional set of property information forms given to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) contains a standard inquiry of the owner to discover if the property has ever been flooded. In the event that the property has been flooded in past and is not revealed by the vendor, then a buyer could commence a compensation claim as a result of such an inaccurate answer. A buyer’s solicitors will also order an environmental report. This will higlight whether there is a recorded flood risk. If so, further inquiries will need to be made.
2 months have gone by following my purchase conveyancing in Low Moor took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am looking for a flat up to £245,000 and found one close by in Low Moor I like with open areas and railway links nearby, the downside is that it only has 61 years unexpired on the lease. I can't really find anything else in Low Moor suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a mortgage that many years may be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least 2 years you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
I am tempted by the attractive purchase price for a two flats in Low Moor which have in the region of forty five years remaining on the lease term. Will this present a problem?
There are plenty of short leases in Low Moor. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the value of the lease deteriorates and results in it becoming more costly to acquire a lease extension. This is why it is generally wise to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional help from a conveyancer and surveyor with experience in this arena.
I acquired a basement flat in Low Moor, conveyancing having been completed in 2004. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Low Moor with an extended lease are worth £202,000. The ground rent is £60 yearly. The lease runs out on 21st October 2081
With only 57 years remaining on your lease the likely cost is going to range between £28,500 and £33,000 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.