My brother and I have lately bought a property in Bedale. We have noticed several issues with the property which we believe were missed in the conveyancing searches. Is there anything we can do? Can you clarify the nature of searches that should have been ordered for conveyancing in Bedale?
The query is vague as what problems have arisen and if they are specific to conveyancing in Bedale. Conveyancing searches and investigations initiated as part of the legal transfer of property are designed to help avoid problems. As part of the process, a seller answers a questionnaire known as a SPIF. answers is misleading, then you may have a claim against the owner 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 Bedale.
I am considering applying for a HSBC mortgage for purchase of a newly converted (under development) in Bedale with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for HSBC ?
There is nothing to stop you using your solicitor, but HSBC 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 purchased a semi-detached Victorian property in Bedale. Conveyancing practitioner acted for me and National Westminster Bank. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, another for leasehold with the matching property. I'd like to know for sure, how can I find out??
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bedale and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the position with the conveyancing lawyer who conducted the conveyancing.
Just had an offer accepted on a new build flat in Bedale. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Bedale
Please confirm the Lease plans are surveyor prepared. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply a car parking plan.
I have been on the look out for a flat up to £235,500 and identified one near me in Bedale I like with a park and station nearby, however it's only got 51 remaining years left on the lease. There is not much else in Bedale for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a mortgage the remaining unexpired lease term may be problematic. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least twenty four months you may request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
Having had my offer accepted I require leasehold conveyancing in Bedale. Before I get started I want to be sure as to the remaining lease term.
Assuming the lease is registered - and almost all are in Bedale - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Bedale Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to buying
Are any of leasehold owners in arrears of their service charge payments? 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 problematic. As the owner of a leasehold property you are often in the clutches of the managing agents from a financial perspective and when it comes to practical matters like the cleanliness of the common parts. You should not be afraid to ask other tenants if they are happy with them. On a final note, be sure you understand the dates that the service charges are due to the appropriate party and specifically what you get for your money. Does the lease have onerous restrictions?