Last May we completed a house move in Old Malden. We have since encountered a number of problems with the property which we believe were missed in the conveyancing searches. What action can we take? What searches should? have been conducted for conveyancing in Old Malden?
The question is vague as to the nature of the problems and if they are relate to conveyancing in Old Malden. Conveyancing searches and investigations initiated during the legal transfer of property are supposed to help avoid problems. As part of the process, the vendor completes a form called a SPIF. If the information provided is incorrect, 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 Old Malden.
Why do I have to pay up front for my conveyancing in Old Malden?
If you are buying a property in Old Malden your lawyer will request that you to provide them with funds to cover the search fees. This will be the total of the cost of the Local Authority Search. When the down payment is payable against the total price then this should be asked for immediately ahead of exchange of contracts. The final balance that is due will be payable shortly before completion.
I just acquired a house at auction in Old Malden. Conveyancing is necessary. What happens now?
Given that you are now exchanged you should choose a conveyancing practitioner soon as you are facing a tight deadline in which to complete the deal. An auction property will ordinarily have a bespoke legal set of papers. This will likely include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold property the legal papers should include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to leasehold premises. You should hand this to the lawyer working for you as soon as possible. You also need to ensure that you have funds in place to complete on the on the contractual date .
A friend informed me that in purchasing a property in Old Malden there could be various restrictions as to what one can do in terms of external changes to the property. Is this right?
There are anumerous of properties in Old Malden which have some sort of restriction or requirement of consent to external changes. Part of the conveyancing in Old Malden should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
The mortgage over my property is with Principality for my property in Old Malden. Conveyancing was finalised a year ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Principality?
Principality must be informed of your intention in advance of renting your property as this is likely to be a breach of Principality’s mortgage conditions. In many cases banks or building societies will permit you to let 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 Principality directly. It should not be necessary to do this via a Principality conveyancing panel solicitor.
Is it necessary to pay for insurance to protect me from financial exposure to chancel repairs when purchasing a property in Old Malden?
Unless a prior acquisition of the premises took place post 12 October 2013 you may expect conveyancing practitioners carrying out conveyancing in Old Malden to remain recommending a chancel search and or insurance against a claim.
Are there restrictive covenants that are commonly picked up during conveyancing in Old Malden?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Old Malden. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
My company is looking to take an assignment of a lease of a shop on a shopping parade. Can you recommend conveyancers offering no-move-no fees for commercial conveyancing in Old Malden for less than 1500k?
We can recommend firms who host a wealth of experience of commercial conveyancing in Old Malden, including the disposal and purchase of businesses as well as simply property. If you are hoping to acquire or lease a shop, pub, restaurant, office, retail premises or a whole business we will find you the right firm. Regarding the costs these will vary based on the structure and terms of the deal. Let us have your contact information or call us so that we can provide you with comprehensive commercial conveyancing quote.