Last October we completed a house move in Markfield. We have noticed several issues with the house which we suspect were omitted in the conveyancing searches. Do we have any recourse? Can you clarify the nature of searches that should have been conducted as part of conveyancing in Markfield?
It is not clear from the question as what problems have arisen and if they are relate to conveyancing in Markfield. Conveyancing searches and due diligence undertaken during the legal transfer of property are carried out to help avoid problems. As part of the process, a property owner completes a questionnaire called a Seller’s Property Information Form. answers ends up being inaccurate, then you may have a claim 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 Markfield.
What does my ID and proof of funds have anything to do with my conveyancing in Markfield? What am I being asked for?
You are right in these requests have nothing to do with conveyancing in Markfield. However these days you will not be able to complete any conveyancing deal in the absence handing over proof of your identity. Ordinarily this takes the form of a either your passport or driving licence and a bank statement. Remember if you are supplying your driving licence as proof of ID it must be both the paper part and photo card part, one is not sufficient in the absence of the other.
Evidence of the source of monies is necessary in accordance with the Money Laundering Regulations. You should not be offended when when this is requested of you as your conveyancer will need to have this information on record. Your Markfield conveyancing solicitor will require evidence of proof of funds before they are able to accept any funds from you into their client account and they will also ask additional queries regarding the origin of monies.
If you had a top tip for selecting a conveyancing solicitor in Markfield what would it be?
It would be unwise to be tempted by the cheapest Markfield conveyancing quote. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I have a mortgage with Virgin Money for my property in Markfield. Conveyancing has been completed a year ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Virgin Money?
You must advise Virgin Money in advance of letting out your property as this is likely to be a breach of Virgin Money’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Virgin Money directly. It should not be necessary to do this via a Virgin Money conveyancing panel solicitor.
The formalities of my purchase has taken place for my property in Markfield. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
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 Care Team at head office. We understand that complaints to a lender are sorted out very quickly. 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 who will take matters further.
Given that I am about to spend £400,000 on a garden flat in Markfield I would like to have a conversation with the conveyancer concerning thehome move before giving the go ahead to the firm. Is this something that you can arrange?
Absolutely - we would be pleased to talk to you we do not take any clients on without you liaising with the conveyancer who will be conducting your conveyancing in Markfield.There is no ‘factory style conveyancing’ - every client is unique individual, not a file number. The practices that we put you in touch with believe that the figure you are calculated and presented to you for your conveyancing in Markfield should be the figure that you are charged.
My husband and I are 3 weeks into a leasehold purchase having been directed to solicitors by the estate agent to execute conveyancing in Markfield. I am am starting to be frustrated with the level of service. Can you help me find new solicitors?
A lawyer would need to be really bad to suggest diss instructing them. Has your loan offer been generated? If so you need to advise them of the new contact details and have the mortgage documents are re-sent. The conveyancer needs to be on the mortgage company approved list to avoid added costs and frustration. That should be your first question of the new conveyancers. The search tool can assist you in finding a bank approved lawyer for your conveyancing in Markfield
There are only 72 years remaining on my lease in Markfield. I now want to extend my lease but my freeholder is missing. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. However, you will be required to prove that you have done all that could be expected to find the freeholder. In some cases an enquiry agent should be useful to carry out a search and prepare an expert document to be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Markfield.
I inherited a 1st floor flat in Markfield, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Markfield with an extended lease are worth £201,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease ceases on 21st October 2084
With only 64 years left to run the likely cost is going to be between £14,300 and £16,400 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you 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 may be other issues 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.