Last March we completed a house move in Southend On Sea. We have noticed several issues with the property which we suspect were overlooked in the conveyancing searches. Is there anything we can do? What searches should? have been conducted for conveyancing in Southend On Sea?
The question is not clear as what problems have arisen and if they are relate to conveyancing in Southend On Sea. Conveyancing searches and investigations initiated as part of the buying process are supposed to help avoid problems. As part of the legal transfer of property, the vendor answers a questionnaire known as a Seller’s Property Information Form. answers is inaccurate, then you may have a 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 Southend On Sea.
I am being told by my solicitor that lack of right of way insurance is needed on my purchase. What is the level of cover for Southend On Sea conveyancing?
The appropriate level of lack of right of way indemnity insurance should be dictated by who your lender. It would differ for example between HSBC Bank and Coventry Building Society. Conveyancing solicitors as opposed to borrowers take out such insurances.
I happen to be the only recipient of my late grandmother’s estate and I have everything in my name now, including the house in Southend On Sea. The Southend On Sea property was put into my name in June. I now wish to sell up. I understand that there is a CML six month 'rule', which means that my property ownership will be treated the same way as though I had purchased the property in June. Is the property unsalable for six months?
The CML handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be affected by that. many banks would take a practical view as this requirement primarily exists to identify the purchase and immediately sell or the wholesaling and assigning of property.
RBS have agreed my mortgage in principle, my bid on a house in Southend On Sea has been agreed to, now what?
The estate agent will want to know who your solicitors are (ensure that the conveyancers are on the lender’s panel). Call up RBS or your financial adviser and finish off any relevant documentation. RBS will appoint a valuer who will get in contact with the selling agent or vendor to book a time for the valuation to happen. Once carried out (assuming no problems) it takes on average a fortnight to get a mortgage offer. RBS will send the offer to you and your property lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Southend On Sea.
I have a semi-detached Edwardian property in Southend On Sea. Conveyancing solicitor acted for me and Nottingham Building Society. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, another for leasehold under the matching property. Is it worth asking Nottingham Building Society to clarify?
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Southend On Sea and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the situation with the conveyancing lawyer who completed the work.
I am purchasing my first flat in Southend On Sea with a mortgage from TSB. The sellers refused to move on the price so I negotiated £7000 of fixtures and fittings instead. The estate agent suggested that I not to tell my solicitor about the extras as it may impact my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the input of my in-laws I had a survey completed on a house in Southend On Sea prior to appointing solicitors. I have been informed that there is a flying freehold aspect to the property. Our surveyor has said that some banks may refuse to grant a loan on a flying freehold home.
It varies from the lender to lender. Bank of Scotland has different instructions from Birmingham Midshires. Should you wish to call us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Southend On Sea. Conveyancing may be slightly more expensive based on your lender's requirements.
What is the reason for my conveyancer requiring various items of identification before I can proceed with selling or purchasing a property in Southend On Sea?
Southend On Sea property lawyers are required by the Law Society, Solicitors Regulation Authority, HMLR and current AML legislation to record that the have checked the identity of their clients. It will also be a condition of your lender if you are obtaining a mortgage. Furthermore they have to complete various forms, particularly those relating to stamp duty land tax and need to have details such as your full names, NI number and DOB.