My brother and I have recently acquired a property in St Helens. We have since encountered a number of problems with the property which we believe were missed in the conveyancing searches. Do we have any recourse? Can you clarify the type of searches that needed to have been conducted for conveyancing in St Helens?
It is not clear from the question as what problems have arisen and if they are specific to conveyancing in St Helens. Conveyancing searches and due diligence initiated as part of the buying process are designed to help avoid problems. As part of the legal transfer of property, the vendor answers a questionnaire referred to as a Seller’s Property Information Form. answers provided is misleading, then you may have a 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 St Helens.
Various internet forums that I have frequented warn that are the primary cause of obstruction in St Helens house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the findings of a review by MoveWithUs that conveyancing searches do not figure within the most frequent causes of delays during the legal transfer of property. Searches are unlikely to feature in any delay in conveyancing in St Helens.
I am purchasing my first flat in St Helens with a mortgage from Chelsea Building Society. The builders refused to move on the price so I negotiated five thousand pounds worth of extras instead. The sale representative suggested that I not to tell my lawyer about the deal as it will affect my loan with Chelsea Building Society. Is this normal?.
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.
Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what was supposed to be a quick, no chain conveyancing. St Helens is the location of the property. What do you suggest?
Flying freeholds in St Helens are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in St Helens you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in St Helens may determine 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.
I need to appoint a conveyancing solicitor for my conveyancing in St Helens. I've chance upon a site which looks to be the perfect answer If it is possible to get all this stuff completed via phone that would be ideal. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
What are the common problems that you see in leases for St Helens properties?
There is nothing unique about leasehold conveyancing in St Helens. Most leases are unique and drafting errors can sometimes mean that certain sections are not included. The following missing provisions could result in a defective lease:
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A provision for the recovery of money spent for the benefit of another party. Service charge per centages that don't add up correctly leaving a shortfall
A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Coventry Building Society, and TSB all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to withdraw.
I am the registered owner of a studio flat in St Helens, conveyancing formalities finalised 5 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in St Helens with a long lease are worth £206,000. The ground rent is £45 charged once a year. The lease ceases on 21st October 2090
With just 66 years remaining on your lease we estimate the premium for your lease extension to span between £12,400 and £14,200 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.