Last March we completed a house move in Nottingham. We have noticed several problems with the house which we believe were overlooked in the conveyancing searches. Is there anything we can do? Can you clarify the type of searches that should have been carried out for conveyancing in Nottingham?
The query is not clear as to the nature of the problems and if they are relate to conveyancing in Nottingham. Conveyancing searches and investigations initiated as part of the legal transfer of property are designed 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 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 Nottingham.
I have an AIP. The bank mentioned the home loan came with free conveyancing. Is the implication that I have to use their panel solicitor as I would much rather use a Nottingham based conveyancing firm?
You should check but the the probability is that give you one of their panel lawyers where you take up the "fee-free" deal. Contact the lender to ask if they make available a cash alternative. In the past a few lenders offered a £250 cashback as a further option in which case you could put that amount towards your preferred conveyancing solicitor near Nottingham.
Forgive me if this question is silly but I am unexperienced as a 1st time purchaser of a garden flat in Nottingham. Do I pick up the keys to the house on completion from my solicitor? If this is the case, I will use a local conveyancing solicitor in Nottingham?
There is no need to visit the lawyers office on the day of completion. Your solicitors will transfer the purchase money to the vendor’s solicitors, and shortly after the monies have arrived, you will be called to receive the keys from the selling Agents and start moving into the property. Usually this occurs between 1 and 3pm.
After months of negotiation I have agreed a price on a house in Nottingham. My mortgage broker pressured me to appoint their conveyancing practitioner. I paid an upfront payment of £175. Soon after, the conveyancing practitioner called me embarrassingly acknowledging that they were not on the HSBC conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the HSBC panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am selling my flat. I had a double glazing fitted in July 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Principality are being difficult. The Nottingham solicitor who is on the Principality conveyancing panel is saying indemnity insurance will be fine but Principality are insisting on a building regulation certificate. Why do Principality have a conveyancing panel if they don't accept advice from them?
It is probably the case that Principality have referred the matter to their valuer. The reason why Principality may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I am looking for a ground for flat up to £195,000 and found one near me in Nottingham I like with a park and railway links in the vicinity, however it only has 51 years unexpired on the lease. I can't really find anything else in Nottingham for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a mortgage the shortness of the lease will likely be problematic. Discount the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
I am tempted by the attractive purchase price for a two maisonettes in Nottingham which have about fifty years remaining on the leases. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the property for a period of time. As a lease shortens the marketability of the lease decreases and it becomes more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this field.
Leasehold Conveyancing in Nottingham - A selection of Queries Prior to buying
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Who manages the block? On the whole the cost for major works are not wrapped into the service charges, albeit that there some managing agents in Nottingham obliged leaseholders to pay into a sinking fund and this is used to offset against major works. The prefered form of lease arrangement is where the freehold reversion is in the ownership of the leaseholders. In this arrangement the tenants enjoy control and even though a managing agent is frequently employed where it is bigger than a house conversion, the managing agent is directed by the tenants.
My fiance is buying a basement flat in Nottingham. He was given a quote by the lawyer connected to the estate agents and it came to £1250 . It was 9 years ago since I sold and bought a property and the fee was £450. Have fees really gone up that much?
You should contact two or three local Nottingham conveyancing solicitors requesting estimates. You should base your selection not just on cost, but on promptness and on how comprehensive the reply is.