My brother and I have just purchased a property in Belsize Park. We have since encountered a number of issues with the house which we consider were omitted in the conveyancing searches. Do we have any recourse? Can you clarify the nature of searches that needed to have been ordered as part of conveyancing in Belsize Park?
The query is not clear as to the nature of the problems and if they are specific to conveyancing in Belsize Park. Conveyancing searches and due diligence undertaken as part of the legal transfer of property are carried out to help avoid problems. As part of the legal transfer of property, a property owner fills in a questionnaire called a Seller’s Property Information Form. answers provided is incorrect, 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 Belsize Park.
Please explain the implications if my lawyer’s firm is suspended from the Lloyds Conveyancing panel ahead of completing my conveyancing in Belsize Park?
First, this is a very rare occurrence. 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.
My bid for a property was accepted at auction in Belsize Park. Conveyancing is necessary. What is next?
Given that you are now exchanged you will need to instruct a conveyancing solicitor quickly as you are facing a tight a fixed date to complete the purchase. All auction property should have a corresponding auction set of papers. This will likely include evidence of title and search results. Where you are dealing with leasehold property the conveyancing pack should include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation specific to a leasehold property. You must give this to the lawyer working for you as soon as possible. Do make sure that that you have the requisite funding in order to complete the transaction on the set completion date.
is it true that all Belsize Park solicitor practices on the Virgin Money conveyancing panel are governed by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Virgin Money approved list of solicitors they would need to be overseen by the SRA. Many banks do permit licenced conveyancers on their panel in which case such organisation would be regulated by the Council of Licensed Conveyancers.
We are getting the release of further funds on our home loan from Santander as we want to carry out alterations to our property in Belsize Park. Do we need to choose a local Belsize Park solicitor on the Santander conveyancing panel to handle the legals?
Santander do not ordinarily appoint firms on their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Santander panel.
My wife and I are selling our home in Belsize Park and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. Any high street Belsize Park conveyancer would know that there is no such problem. It does beg the question why the buyers are using a factory type conveyancing firm as opposed to a conveyancing solicitor in Belsize Park. We have lived in Belsize Park for six years we know of no issue. Is it a good idea to get in touch with our local Authority to seek clarification that the buyers are looking for.
It would appear that you have a conveyancing firm already. Are they able to advise? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
The deeds to our property can not be found. The solicitors who conducted the conveyancing in Belsize Park 5 years ago have long since closed. What are my next steps?
As long as you have a registered title the details of your ownership will be recorded by the Land Registry with a Title Number. It is easy to conduct a search at the Land Registry, locate your property and obtain current copies of the Registered Entries for a small fee. If the property is Leasehold then the Land Registry will usually retain a file duplicate of the Registered Lease and again, a copy can be ordered for £20 inclusive of VAT.
How does conveyancing in Belsize Park differ for new build properties?
Most buyers of new build premises in Belsize Park contact us having been asked by the developer to sign contracts and commit to the purchase even before the property is built. This is because builders in Belsize Park usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Belsize Park or who has acted in the same development.