Last March we completed a house move in Hassocks. We have since encountered a number of problems with the property which we believe were overlooked in the conveyancing searches. Is there anything we can do? What searches should? have been conducted as part of conveyancing in Hassocks?
The query is vague as to the nature of the problems and if they are specific to conveyancing in Hassocks. Conveyancing searches and due diligence initiated as part of the buying process are supposed to help avoid problems. As part of the legal transfer of property, the vendor fills in a document called a Seller’s Property Information Form. If the information 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 Hassocks.
Are all Hassocks Conveyancing Quality Solicitors on the UBS conveyancing panel?
It is true that some lenders now make use of the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
We have agreed to purchase a house in Hassocks. One unusual aspect is that the roof has a solar panel. Lloyds have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Lloyds your lawyer must follow the formal requirements contained in Section two of UK Finance Lenders’ Handbook for Lloyds. The CML Handbook stipulates minimum specifications for solar panel roof-space leases, and solicitors are required to report to Lloyds where a lease fails to comply with these conditions. The provisions relate to the installation of panels on properties nationwide and is not isolated to Hassocks.
Completion of my purchase has taken place for my property in Hassocks. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Almost all banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Department at head office. Ordinarily complaints to a lender are resolved effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
How does conveyancing in Hassocks differ for new build properties?
Most buyers of new build premises in Hassocks contact us having been asked by the builder to exchange contracts and commit to the purchase even before the house is ready to move into. This is because builders in Hassocks typically buy 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 accustomed to new build conveyancing in Hassocks or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in last month in what should have been a quick, chain free conveyancing. Hassocks is the location of the property. What do you suggest?
Flying freeholds in Hassocks are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Hassocks you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hassocks 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 residence.
In searching the internet for the words on line conveyancing in Hassocks it brings up numerous property lawyerslocally. With so much choice what is the best way to find the suitable property lawyer for the sale of my house?
The ideal method of seeking the right conveyancer is through a trusted testimonial, so seek the counsel of colleagues and relatives who have acquired a property in Hassocks or a reputable estate agent or financial adviser. Fees for conveyancing in Hassocks differ, so it's a good idea to request at least three quotes from different conveyancers. Dont forget to clarify that the fees are fixed.
I own a leasehold flat in Hassocks. Conveyancing was finalised in five years ago. I have heard that I mustn’t let the the remaining lease term to fall too low. What is the reasoning?
Hassocks leasehold properties are for a fixed period - usually just under one hundred years when they are first granted. However a significant appartments in Hassocks were constructed or converted 35 or more years ago and so such leases now have fewer than eighty years remaining. This may seem like a long time however Banks, Building Societies and other mortgage lenders on the whole require leases to have a minimum of 75 years left to be mortgageable. Accordingly when you come to sell the property you will need a lease extension if you are approaching 75 years. To increase the saleability of your property you should be considering whether to extend your lease long before you come to sell it. Please note that there are significant benefits to taking action before the lease hits 80 years as when the lease is below 80 years the amount you have to pay to extend starts to get a lot more expensive.