Last November we completed a house move in South West London. We have noticed several problems with the house which we suspect were overlooked in the conveyancing searches. Do we have any recourse? Can you clarify the type of searches that should have been ordered as part of conveyancing in South West London?
The question is not clear as to the nature of the problems and if they are unique to conveyancing in South West London. Conveyancing searches and investigations initiated during the legal transfer of property are supposed to help avoid problems. As part of the process, a seller answers a document known as a Seller’s Property Information Form. If the information turns out to be incorrect, 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 South West London.
What does my ID and proof of funds have anything to do with my conveyancing in South West London? Is this really necessary?
South West London conveyancing solicitors as well as nationwide property practitioners accross the UK have a duty under Anti-terror and anti-money-laundering rules to check the identity of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to provide two forms of certified ID; proof of ID (usually a Passport or Driving Licence) and evidence of address (usually a Bank Statement less than 3 months old).
Confirmation of source of funds is also necessary in accordance with the money laundering statutes as lawyers are duty bound to check that the money you are using to acquire a property (be it the exchange deposit or the full purchase price where you are a cash purchaser) has come from an acceptable source (such as employment savings) and is not the fruits of criminal activity.
Do I need to take out insurance to cover chancel repairs when purchasing a residence in South West London?
Unless a prior acquisition of the property completed after 12 October 2013 you can assume that conveyancing practitioners handling conveyancing in South West London to continue to advocate a chancel search and or chancel repair liability policy.
I'm converting the mortgage on my existing property to a buy to let mortgage with Nationwide Building Society and I will use the rest of the raised equity towards another house. The area we are interested in is South West London. Will your conveyancers be able to act for the two banks and link together the two deals?
Do use our comparison tool on this site to ensure that the conveyancers are on the appropriate lender panels. On the basis that they are the lawyer will be able to simultaneously deal with the two conveyancing matters but you should have a chat with you solicitor and communicate your expectations and needs.
I today plan to offer on a house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have just found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in South West London. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in South West London ?
The majority of houses in South West London are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in South West London so you should seriously consider looking for a South West London conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a contribution towards the upkeep of the communal areas where the property is part of an estate. Your lawyer will appraise you on the various issues.
I own a basement flat in South West London. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for a lease extension?
if there is a absentee landlord or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to assess the amount due.
An example of a Freehold Enfranchisement matter before the tribunal for a South West London property is 78 & 80 Newport Road in January 2013. the Tribunal concluded that the premium to be paid by the leaseholder in respect of the freehold reversion is £23,105 This case related to 2 flats. The unexpired lease term was 71.63 years.
I'm selling a apartment in South West London. I can find my conveyancer's company on the CLC list, but I can't see my lawyer's name on the list. Is this a big problem?
Not all staff in the law firm must be listed by the regulator. Provided there is a manager qualified to 'oversee' the transaction, the actual day-to-day activity can be undertaken by unqualified staff.