My brother and I have lately acquired a property in Dunnington. We have noticed several issues with the property which we believe were overlooked in the conveyancing searches. Do we have any recourse? Can you clarify the nature of searches that needed to have been carried out for conveyancing in Dunnington?
The query is vague as to the nature of the problems and if they are specific to conveyancing in Dunnington. Conveyancing searches and due diligence undertaken during the buying process are carried out to help avoid problems. As part of the legal transfer of property, the vendor completes a form referred to as a SPIF. answers ends up being inaccurate, you could possibly take legal action 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 Dunnington.
As someone unfamiliar with conveyancing in Dunnington what’s your top tip you can impart for the ownership transfer in Dunnington
You may not hear this from too many lawyers but conveyancing in Dunnington and elsewhere in North Yorkshire is often a confrontational experience. In other words, when it comes to conveyancing there is an abundance of opportunity for friction between you and other parties involved in the transaction. For example, the vendor, selling agent and sometimes the bank. Selecting a law firm for your conveyancing in Dunnington should not be taken lightly as your conveyancer is your adviser, and is the ONE party in the process whose interest is to act in your best interests and to keep you safe.
There is a distinct ongoing adversarial element to conveyancing- someone must be blamed for the process taking so long. You your first instinct should be to trust your lawyer above the other players in the conveyancing process.
How can we know in advance if a Dunnington conveyancing solicitor on the Nottingham panel is any good?
When it comes to conveyancing in Dunnington seeking recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the lawyer handling your conveyancing.
My fiancee and I are in the throws of viewing houses in Dunnington and I am about to put in an offer. Is it too early to have a solicitor in place? I will be getting a mortgage with Bank of Ireland.
It would be wise to instigate your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the estate agent. Given that you are seeking a mortgage with Bank of Ireland, make sure you remember to check that your lawyer is on the Bank of Ireland conveyancing panel.
It is not clear whether my bank requires a lease extension. I have called my Dunnington bank branch on a couple of occasions and was told it wasn't an issue and they will lend. My Dunnington conveyancing solicitor - who is on the lender conveyancing panel- called to say that they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Your solicitor must follow the CML Handbook Part 2 requirements for your bank. Unless your lawyer obtains specific confirmation in writing that the bank 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 bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
How does conveyancing in Dunnington differ for newly converted properties?
Most buyers of new build residence in Dunnington contact us having been asked by the builder to sign contracts and commit to the purchase even before the property is finished. This is because builders in Dunnington usually acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Dunnington or who has acted in the same development.
I opted to have a survey done on a property in Dunnington prior to appointing lawyers. I have been told that there is a flying freehold aspect to the house. My surveyor has said that some lenders may not issue a loan on such a house.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Nationwide. If you e-mail us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Dunnington. Conveyancing will be smoother if you use a solicitor in Dunnington especially if they regularly deal with such properties in Dunnington.
I own a leasehold flat in Dunnington. Conveyancing and Nationwide Building Society mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Dunnington who previously acted has now retired. Any advice?
First contact the Land Registry to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. You do not need to instruct a Dunnington conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I acquired a basement flat in Dunnington, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Dunnington with an extended lease are worth £197,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease terminates on 21st October 2080
You have 56 years unexpired we estimate the premium for your lease extension to span between £29,500 and £34,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.