My partner and I have just bought a property in Fakenham. We have noticed several problems with the property which we believe were omitted in the conveyancing searches. Is there anything we can do? Can you clarify the nature of searches that needed to have been carried out for conveyancing in Fakenham?
The query is vague as what problems have arisen and if they are relate to conveyancing in Fakenham. Conveyancing searches and due diligence undertaken as part of the buying process are carried out to help avoid problems. As part of the process, a seller answers a questionnaire called a SPIF. If the information turns out 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 Fakenham.
When can the exchange of contracts take place for domestic conveyancing in Fakenham and am I required to be at the lawyers branch?
Where you are in close proximity to our conveyancing solicitors in Fakenham you are invited in to sign documents. However, the lender approved solicitors we recommend offer countrywide coverage for conveyancing and give as equally diligent and professional a job for you when dealing with you digitally. The executing of the sale agreement is not when everything is set in stone. A signed contract is necessary for the solicitor to exchange contracts at the appropriate time, which will usually be very shortly after signing. The exchange process is is usually a five minute process, although where an extended "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Fakenham)to be in the office available at the end of the phone to exchange contracts.
We had chosen conveyancing lawyers based in Fakenham on the Principality solicitor approved list. They have just invoiced me an additional amount for dealing with the Principality mortgage. Is this a supplemental conveyancing fee specified by Principality?
Provided it is contained in their Terms and Conditions or Quote then yes your conveyancer is entitled to levy a fee for this. This charge is not set by Principality but by your Fakenham conveyancer. Numerous firms on the Principality panel will charge an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
We have a mortgage agreed in principle with RBS. Fakenham conveyancing practitioners are selected. How long does it take for RBS to issue the offer to the conveyancer?
Some lenders take longer than others. Have RBS completed the valuation? Have you advised RBS as to your lawyers' details and checked that your lawyers are on the RBS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
HSBC have agreed my home loan in principle, my offer on a house in Fakenham has been agreed to, what happens next?
The property agent will want to know who your solicitors are (make sure the conveyancers are on the lender’s panel). Contact HSBC or the financial adviser and finalise any appropriate forms. HSBC will instruct a valuer who will get in contact with the estate agent or owners to book an appointment. Once carried out (assuming no problems) it takes approximately a week for the mortgage offer to be issued. HSBC will issue the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Fakenham.
I've recently found out that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a simple, chain free conveyancing. Fakenham is where the house is located. What do you suggest?
Flying freeholds in Fakenham are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Fakenham you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Fakenham may decide 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 residence.
Back In 2002, I bought a leasehold house in Fakenham. Conveyancing and The Royal Bank of Scotland mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Fakenham who acted for me is not around. Any advice?
First make enquiries of the Land Registry to make sure that this person is in fact the new freeholder. It is not necessary to instruct a Fakenham conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I bought a 1 bedroom flat in Fakenham, conveyancing was carried out 9 years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Fakenham with an extended lease are worth £222,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease ends on 21st October 2094
With just 70 years unexpired we estimate the price of your lease extension to span between £9,500 and £11,000 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.
My conveyancing solicitor in Fakenham is asking me for identification documents saying that this forms part of his requirements as a conveyancer on the bank Conveyancing panel. This is news to me - can I refuse?
Anti-terror and anti-money-laundering rules require Fakenham conveyancing solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you need to sign will no doubt confirm this. Your lawyer is right that the mortgage company also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with the bank's UK Finance Lenders’ Handbook requirements