Last September we completed a house move in Barnsbury. We have noticed several problems with the house which we consider were omitted in the conveyancing searches. Is there anything we can do? What searches should? have been carried out as part of conveyancing in Barnsbury?
It is not clear from the question as what problems have arisen and if they are unique to conveyancing in Barnsbury. Conveyancing searches and due diligence undertaken as part of the buying process are supposed to help avoid problems. As part of the process, the vendor answers a document known as a Seller’s Property Information Form. answers provided is incorrect, then you may have a claim against the seller 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 Barnsbury.
I purchased a freehold house in Barnsbury but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Barnsbury and has limited impact for conveyancing in Barnsbury but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
What is the difference between a licensed conveyancer and conveyancing solicitor in Barnsbury
There are two types of lawyers who can carry out conveyancing in Barnsbury namely CLC regulated conveyancers or solicitors. Both professionals administer conveyancing services that you need to complete the sale or acquisition of property. Both are duty bound to execute Barnsbury conveyancing to the same quality and guidelines so you can be safe in the knowledge that your conveyancing will be professionally administered and that the requisite steps will be suitably followed.
I am buying a 3 bedroom semi in Barnsbury. Our aim is to carry out an extension to the side at the property.Will legal investigations on the property involve enquiries to determine if these works were previously refused?
Your conveyancer will check the deeds as conveyancing in Barnsbury will on occasion identify restrictions in the title documents which prohibit categories of works or require the consent of another owner. Many works call for local authority planning consent and approval in accordance building regulations. Some areas are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. You should check these things with a surveyor ahead of any purchase.
I was told two weeks ago that my mortgage has been agreed to by Nationwide. Is it usual for Nationwide to only issue the offer once my solicitor in Barnsbury is approved on their conveyancing panel? Nationwide have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Nationwide to deal with your lawyer's application to be on the Nationwide conveyancing panel. There's no guarantee that your solicitor will be accepted.
It has been four months since my purchase conveyancing in Barnsbury concluded. I have checked the Land Registry site which shows that I paid £200,000 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 asset 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 purchasing my first flat in Barnsbury benefiting from help to buy. The developers refused to reduce the price so I negotiated five thousand pounds worth of extras instead. The property agent advised me not disclose to my lawyer about the extras as it could put at risk my loan with Chelsea Building Society. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I have been on the look out for a flat up to £235,500 and identified one round the corner in Barnsbury I like with open areas and railway links nearby, however it only has 51 remaining years left on the lease. I can't really find anything else in Barnsbury in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a mortgage the shortness of the lease will be problematic. Reduce the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least 2 years you could request that they start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.