My wife and I have recently bought a house in Cowley. We have since encountered a number of issues with the house which we believe were missed in the conveyancing searches. What action can we take? What searches should? have been conducted for conveyancing in Cowley?
The question is not clear as what problems have arisen and if they are specific to conveyancing in Cowley. Conveyancing searches and investigations initiated as part of the buying process are supposed to help avoid problems. As part of the process, a seller fills in a form known as a Seller’s Property Information Form. answers proves to be incorrect, 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 Cowley.
My solicitor has informed me that flying freehold insurance is required on my purchase. What is the level of cover for Cowley conveyancing?
The appropriate level of flying freehold indemnity insurance depends on who your lender is. It would differ for example between HSBC Bank and The Royal Bank of Scotland. Conveyancing solicitors as opposed to members of the public take out such insurances.
I am the only beneficiary of my late grandmother’s estate and I have everything in my name alone, including the house in Cowley. Conveyancing formalities meant that the Land Registry date was in January. I now wish to sell up. I do know about the Mortgage Lenders six month 'rule', which means that my proprietorship will be regarded the same way as if I'd bought the property in January. Do I have to wait half a year to sell?
The CML handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be impacted by that. How practical a view lenders take of it, depend on the mortgage company as this clause is primarily there to pick up on subsales or the flipping of property.
I have decided to exercise my right to buy my property in Cowley off the council. I have a mortgage agreed with Yorkshire BS. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Yorkshire BS, you will need to appoint a solicitor on the Yorkshire BS conveyancing panel.
We are intent on selling our property in Cowley and the buyers lawyers are claiming that there is a possibility that the property was constructed land that was not decontaminated. A high street Cowley conveyancer would know this is not the case. It does beg the question why the buyers used a national conveyancing outfit rather than a conveyancing solicitor in Cowley. Having lived in Cowley for 4 years we know of no issue. Should we contact our local Authority to get confirmation that there is no issue.
It sounds as though you may have a conveyancing firm currently acting for you. What do they say? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
What makes your site different to other web based conveyancing solicitors for conveyancing in Cowley?
At this site obtain a conveyancing costs illustration from a Solicitor or Licensed Conveyancer that appreciates the issues of your conveyancing in Cowley. Unlike many estate agents and brokerage sites we do not have commission arrangements with solicitors. A large number of agents and online brokers 'recommend' solicitors that pays the most per referral, rather than the best value conveyancing in Cowley
I need to instruct a conveyancing practitioner in Cowley for my remortgage. Can I see a solicitor's record with the legal regulator?
Members of the public can read published Solicitor Regulator Association (SRA) decisions resulting from investigations started on or after 1 January 2008. Visit Check a solicitor's record. To find details Pre 2008, or to check a solicitors history, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, call +44 (0)121 329 6800. The regulator may monitor call for training purposes.
I am attracted to a couple of maisonettes in Cowley both have in the region of forty five years left on the leases. Should I regard a short lease as a deal breaker?
There are no two ways about it. A leasehold flat in Cowley is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. The majority of buyers and lenders, leases with less than eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Cowley conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Following months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Cowley. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Where there is a missing landlord or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to decide the amount due.
An example of a Freehold Enfranchisement matter before the tribunal for a Cowley premises is 164 Nestles Avenue in October 2013. The tribunal agreed with the proposed price of £20,158 for the freehold and determined that that sum is the amount to be paid into court This case was in relation to 2 flats. The unexpired term as at the valuation date was 69 years.