Last September we completed a house move in Collier Row. We have since encountered a number of issues with the property which we suspect were omitted in the conveyancing searches. What action can we take? Can you clarify the type of searches that should have been conducted as part of conveyancing in Collier Row?
It is not clear from the question as to the nature of the problems and if they are unique to conveyancing in Collier Row. Conveyancing searches and investigations initiated during the legal transfer of property are designed to help avoid problems. As part of the legal transfer of property, the vendor fills in a questionnaire called a SPIF. If the information proves to be 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 Collier Row.
My aunt passed away last year and as sole heir and executor I was left the house in Collier Row. The house had a small mortgage remaining of approximately £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Virgin Money, pay off the mortgage. Is this possible?
If you intend to refinance then Virgin Money will insist on your using a conveyancer on the Virgin Money conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Virgin Money conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Virgin Money mortgage is registered as a charge at the Land Registry.
I have been told that property searches are a common reason for hinderance in Collier Row conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not figure within the most frequent causes of delays during the legal transfer of property. Searches are not likely to feature in any holding up conveyancing in Collier Row.
Me and my brother own a renovated Georgian house in Collier Row. Conveyancing practitioner acted for me and The Royal Bank of Scotland. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, the second leasehold with the matching property. I'd like to know for sure, how can I find out??
You need to 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Collier Row and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with your conveyancing lawyer who completed the work.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on last month in what was supposed to be a quick, no chain conveyancing. Collier Row is the location of the property. Can you offer any advice?
Flying freeholds in Collier Row are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Collier Row you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Collier Row may determine 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.
What are the specific benefits to selecting a local conveyancing practitioner in Collier Row
Home movers in Collier Row select a local lawyer so that they can attend the lawyer’s offices in the event that they have questions, and to sign documents without using the post.
One could argue that there is a distinct advantage in selecting a solicitor nearby to the house you are buying, due to the knowledge of the region and potential local concerns - but this is moot. Most conveyancers are now through email and may be anywhere in the world.