Last July we completed a house move in Shenley. We have since encountered a number of 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 ordered as part of conveyancing in Shenley?
It is not clear from the question as to the nature of the problems and if they are relate to conveyancing in Shenley. Conveyancing searches and due diligence undertaken during the legal transfer of property are carried out to help avoid problems. As part of the legal transfer of property, the vendor fills in a document called a SPIF. If the information proves to be misleading, you may have a misrepresentation claim against the vendor 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 Shenley.
I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Shenley. My lender is Accord Mortgages
Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 30/11/2023, the requirements read as follows :
My husband and I have arranged the release of further monies on our home loan from Barclays as we want to conduct alterations to our house in Shenley. Do we need to appoint a high street Shenley solicitor on the Barclays conveyancing panel to handle the paperwork?
Barclays do not ordinarily require a member of their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Barclays list.
I currently have a mortgage with RBS for my property in Shenley. Conveyancing was finalised 12 months ago. In the event that I decide 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 RBS?
RBS must be informed of your intention before letting out your property as this is likely to be a breach of RBS’s mortgage conditions. It may be that RBS 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 RBS directly. You need not do this via a RBS conveyancing panel solicitor.
I was told two weeks ago that my mortgage has been agreed to by HSBC. Is it usual for HSBC to only issue the offer once my solicitor in Shenley is approved on their conveyancing panel? HSBC have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for HSBC to deal with your lawyer's application to be on the HSBC conveyancing panel. There's no guarantee that your solicitor will be accepted.
Should my conveyancer be raising questions about flooding during the conveyancing in Shenley.
Flooding is a growing risk for solicitors conducting conveyancing in Shenley. There are those who buy a house in Shenley, completely expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Solicitors are not qualified to give advice on flood risk, but there are a number of checks that can be carried out by the buyer or by their solicitors which can figure out the risks in Shenley. The conventional set of completed inquiry forms given to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) includes a usual inquiry of the owner to determine whether the premises has historically flooded. If the residence has been flooded in past and is not notified by the vendor, then a buyer may issue a compensation claim resulting from an incorrect response. A buyer’s solicitors may also conduct an enviro search. This will higlight whether there is any known flood risk. If so, additional investigations will need to be carried out.
How do I search for a Shenley law firm on the Chelsea Building Society conveyancing panel? I drive a motor bike and am happy to travel upto 25kilometers to meet the lawyer.
Feel free to make use of the tool on this website. Please choose the lender and your location and you will see a number of Shenley conveyancing lawyers located nearest you. We have listed some Shenley conveyancing firms towards the end of this page and you can ring them to verify if they are on the Chelsea Building Society panel
Our solicitor in Shenley has identified a a legal deficiency with the lease for the apartment we are purchasing in Shenley. The seller’s lawyers have put forward title insurance as a workaround. We are content with insurance and will cover the costs. Our lawyer says that as he is on the mortgage company conveyancing panel he must ensure that the lender is happy with this solution. Are we the client or is the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. A precondition to being on the mortgage company approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.