My wife and I have lately bought a property in Barlestone. We have since encountered a number of issues with the property which we believe were overlooked in the conveyancing searches. Do we have any recourse? What searches should? have been carried out for conveyancing in Barlestone?
The question is not clear as to the nature of the problems and if they are relate to conveyancing in Barlestone. Conveyancing searches and due diligence initiated during the buying process are carried out to help avoid problems. As part of the legal transfer of property, a property owner fills in a form known as a SPIF. If the information is misleading, you could possibly take legal action 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 Barlestone.
What happens if my lawyer’s firm is removed from the Lloyds Solicitor panel ahead of completing my conveyancing in Barlestone?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Please help - my lawyer says that lack of planning permission insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Barlestone?
The right level of lack of planning permission indemnity insurance depends on who your lender is. It would differ for example between Santander and Virgin Money. Conveyancing practitioners as opposed to borrowers take out such insurances.
I am the sole beneficiary of my late mum's will with all property in now in my sole name, including the my former home in Barlestone. Conveyancing formalities meant that the Land Registry date was in August. I now wish to sell up. I understand that there is a CML six month 'rule', meaning my proprietorship could be regarded the same way as if I'd bought the house in August. Will no one buy the property for half a year?
The CML handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be impacted by that. many banks would take a pragmatic view as this requirement chiefly exists to capture the purchase and immediately sell or the flipping of properties.
I am currently in the process of buying my council flat in Barlestone. I have a mortgage offer with Barclays. 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 Barclays, you will need to appoint a solicitor on the Barclays conveyancing panel.
four months have gone by following my purchase conveyancing in Barlestone took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a quick, no chain conveyancing. Barlestone is where the house is located. Can you offer any guidance?
Flying freeholds in Barlestone 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 Barlestone you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Barlestone 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've recently bought a leasehold flat in Barlestone. Do I have any liability for service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I purchased a split level flat in Barlestone, conveyancing having been completed in 1996. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Barlestone with over 90 years remaining are worth £211,000. The average or mid-range amount of ground rent is £45 yearly. The lease runs out on 21st October 2092
You have 67 years unexpired we estimate the premium for your lease extension to be between £10,500 and £12,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.