My partner and I have just bought a property in Eynsham. We have since encountered a number of issues with the house which we believe were omitted in the conveyancing searches. Do we have any recourse? Can you clarify the nature of searches that should have been carried out as part of conveyancing in Eynsham?
It is not clear from the question as to the nature of the problems and if they are specific to conveyancing in Eynsham. Conveyancing searches and due diligence undertaken as part of the buying process are designed to help avoid problems. As part of the legal transfer of property, a property owner answers a questionnaire called a Seller’s Property Information Form. If the information ends up being inaccurate, you could possibly take legal action 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 Eynsham.
Are the BSA intent on creating a online directory to list solicitors on the Darlington Building Society conveyancing panel for instance in Eynsham?
We have not been informed any plans on the part of the BSA to promote such a search facility.
I used Action Conveyancing a few years ago for my conveyancing in Eynsham. Now, I need the documents however the law firm is no longer operating. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Eynsham of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am purchasing my first flat in Eynsham with a loan from Chelsea Building Society. The sellers refused to budge the amount so I negotiated £7000 of fixtures and fittings instead. The estate agent advised me not disclose to my lawyer about the side-deal as it would put at risk my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently found out that there is a flying freehold element on a property I put an offer in last month in what was supposed to be a straight forward, chain free conveyancing. Eynsham is where the house is located. Can you shed any light on this issue?
Flying freeholds in Eynsham are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Eynsham you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Eynsham 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.
Do you have any advice for leasehold conveyancing in Eynsham from the point of view of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Eynsham can be reduced where you get in touch lawyers the minute you market your property and ask them to collate the leasehold information needed by the purchasers’ conveyancers. If you have the benefit of shareholding in the freehold, you should make sure that you are holding the original share certificate. Organising a re-issued share certificate can be a lengthy process and delays many a Eynsham home move. If a duplicate share is required, you should approach the company director and secretary or managing agents (if relevant) for this sooner rather than later. If there is a history of conflict with your freeholder or managing agents it is very important that these are settled prior to the flat being marketed. The buyers and their solicitors will be warry about purchasing a property where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to reveal the dispute as historic rather than unsettled. You believe that you know the number of years remaining on your lease but you should verify this via your lawyers. A buyer’s lawyer will not be happy to advise their client to where the lease term is less than 80 years. In the circumstances it is essential at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.
I purchased a 1 bedroom flat in Eynsham, conveyancing formalities finalised 7 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Eynsham with an extended lease are worth £197,000. The ground rent is £55 levied per year. The lease expires on 21st October 2081
With only 55 years left to run we estimate the premium for your lease extension to span between £31,400 and £36,200 plus costs.
The suggested premium range 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 comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.