My wife and I have lately acquired a property in Penn. We have noticed several issues with the property which we believe were omitted in the conveyancing searches. Do we have any recourse? Can you clarify the nature of searches that needed to have been conducted for conveyancing in Penn?
The question is not clear as what problems have arisen and if they are relate to conveyancing in Penn. Conveyancing searches and due diligence initiated during the buying process are carried out to help avoid problems. As part of the process, a seller answers a form referred to as a SPIF. answers turns out to be inaccurate, 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 Penn.
Forgive me if this question is silly but I am unexperienced as a 1st time buyer of a two bedroom flat in Penn. Do I collect the keys to the property on the completion date from my conveyancer? If this is the case, I will find a local conveyancing solicitor in Penn?
On the day of completion you will not be required to go to the conveyancers office in Penn. Your solicitors will electronically transfer the completion advance to the vendor’s solicitors, and once they have received this, you will be invited to collect the keys from the property Agents and move into your new home. Usually this happens early afternoon.
My aunt pointed out to me me that in purchasing a property in Penn there may be a number of restrictions preventing external alterations to a property. Is this right?
There are a number of properties in Penn which have some sort of restriction or requirement of consent to perform external variations. Part of the conveyancing in Penn should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have decided to exercise my right to buy my property in Penn off the council. I have a mortgage offer with Kent Reliance. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Kent Reliance, you will need to appoint a solicitor on the Kent Reliance conveyancing panel.
Are there restrictive covenants that are commonly identified as part of conveyancing in Penn?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Penn. 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…’
Yesterday I discovered that there is a flying freehold element on a house I put an offer in last month in what should have been a straight forward, no chain conveyancing. Penn is where the house is located. Can you shed any light on this issue?
Flying freeholds in Penn are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Penn you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Penn may decide 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 property.
We are 18 days into a leasehold purchase having been referred to conveyancers by the local agent to execute conveyancing in Penn. I am am very dissatisfied with the quality of service. Could you you assist me in finding new solicitors?
A solicitor would need to be really bad in order to consider replacing them. Has the mortgage offer been issued? In the event that it has you must make them aware of the new contact details and have the mortgage documents are re-issued. Your conveyancer needs to be on the mortgage company panel to avoid escalating fees and complications. So that should be your starting point. Our search tool should help you find a lender approved conveyancer for your home move in Penn
I am in need of some leasehold conveyancing in Penn. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.
If the lease is recorded at the land registry - and almost all are in Penn - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I inherited a ground floor flat in Penn, conveyancing formalities finalised July 1997. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Penn with a long lease are worth £197,000. The ground rent is £55 invoiced annually. The lease terminates on 21st October 2080
You have 55 years unexpired we estimate the premium for your lease extension to be between £31,400 and £36,200 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.