My brother and I have recently acquired a property in Boscombe. We have since encountered a number of issues with the property which we believe were missed in the conveyancing searches. Is there anything we can do? Can you clarify the type of searches that should have been ordered for conveyancing in Boscombe?
The query is vague as to the nature of the problems and if they are specific to conveyancing in Boscombe. Conveyancing searches and due diligence initiated during the buying process are carried out to help avoid problems. As part of the legal transfer of property, a property owner completes a form known as a Seller’s Property Information Form. If the information turns out to be inaccurate, you may have a misrepresentation claim 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 Boscombe.
We are getting the release of further funds on our home loan from UBS as we want to carry out improvements to our property in Boscombe. Do we need to choose a local Boscombe solicitor on the UBS conveyancing panel to handle the legals?
UBS would not normally instruct a member of their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the UBS conveyancing panel.
It is unclear whether my lender requires a lease extension. I have called my Boscombe building society branch on various occasions and was informed it wasn't an issue and they will lend. My Boscombe conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they refuse to lend in accordance with their published requirements. Who do I believe?
As long as the conveyancing practitioner is on the mortgage company approved list, they must follow the Council of Mortgage Lenders’ Handbook provisions for the lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Leeds Building Society have agreed my home loan in principle, my offer on a property in Boscombe has been agreed to, now what?
The property agent will need to be advised as to your solicitor's details (ensure that the conveyancers are on the bank’s panel). Contact Leeds Building Society or the broker and complete any appropriate documentation. Leeds Building Society will sellect a valuer who will get in touch with the selling agent or seller to schedule an appointment. Once conducted (assuming no problems) it takes approximately a week for the mortgage offer to be issued. Leeds Building Society will send the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Boscombe.
I have been told that property searches are the main cause of stalling in Boscombe house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not feature within the most frequent causes of delays during the legal transfer of property. Local searches are unlikely to feature in any delay in conveyancing in Boscombe.
It has been three months following my purchase conveyancing in Boscombe completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. 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 residence 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 opted to have a survey done on a property in Boscombe ahead of instructing conveyancers. I have been advised that there is a flying freehold aspect to the property. Our surveyor has said that some mortgage companies may not issue a mortgage on a flying freehold home.
It depends who your proposed lender is. Lloyds has different instructions from Nationwide. Should you wish to call us we can investigate further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Boscombe. Conveyancing may be slightly more expensive based on your lender's requirements.
I am using a search engine for the phrase cheap conveyancing in Boscombe it shows results of numerous solicitorsin the area. How do I determine which is the suitable property lawyer for me?
The preferential way of finding a suitable conveyancer is via trusted referral, so ask colleagues and those you trust who have bought a property in Boscombe or a local estate agent or financial adviser. Charges for conveyancing in Boscombe differ, so it's advisable to secure at least three costs illustrations from different solicitors. Make sure that you clarify that the fees are fixed.