My brother and I have just bought a property in Lingfield. We have since encountered a number of problems with the property which we consider were missed in the conveyancing searches. Do we have any recourse? Can you clarify the nature of searches that should have been ordered for conveyancing in Lingfield?
It is not clear from the question as what problems have arisen and if they are relate to conveyancing in Lingfield. Conveyancing searches and due diligence initiated during the buying process are carried out to help avoid problems. As part of the legal transfer of property, a seller completes a questionnaire known as a SPIF. answers provided is inaccurate, then you may have a claim against the seller 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 Lingfield.
I am considering remortgaging my house in Lingfield, does my lawyer have to be on the Co-operative Solicitor panel?
There is nothing to stop you using your solicitor, but Co-operative will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
What can a local search reveal concerning the property my wife and I buying in Lingfield?
Lingfield conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search organisations such as Searches UK The local search plays an important part in most Lingfield conveyancing purchase; that is if you don’t want any unpleasant surprises after you move into your new home. The search will reveal information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject areas.
I'm purchasing my first flat in Lingfield with a loan from Norwich and Peterborough Building Society. The developers would not reduce the price so I negotiated five thousand pounds worth of additionals instead. The house builders rep advised me not reveal to my solicitor about this extras as it would impact my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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.
What does commercial conveyancing in Lingfield cover?
Lingfield conveyancing for business premises covers a wide array of advice, supplied by qualified solicitors, relating to business premises. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
Last June I purchased a leasehold flat in Lingfield. Am I liable to pay service charges for periods before my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I own a ground floor flat in Lingfield, conveyancing was carried out in 1997. Can you work out an approximate cost of a lease extension? Corresponding flats in Lingfield with a long lease are worth £222,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease runs out on 21st October 2095
With just 70 years left to run we estimate the premium for your lease extension to be between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.