My brother and I have recently purchased a house in Coningsby. We have noticed several problems with the property which we suspect were overlooked in the conveyancing searches. What action can we take? Can you clarify the type of searches that needed to have been conducted as part of conveyancing in Coningsby?
The query is not clear as what problems have arisen and if they are specific to conveyancing in Coningsby. 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, a seller fills in a document referred to as a Seller’s Property Information Form. answers provided is misleading, you may have a misrepresentation 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 Coningsby.
Can you explain why leasehold purchase conveyancing in Coningsby is more expensive?
Coningsby leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving applicable notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
My grandfather passed away six months ago and as sole heir and executor I was left the property in Coningsby. The house had a relatively small loan left on it of around £8000. I want to have the title changed into my name whilst I re-mortgage to Yorkshire BS, pay off the mortgage. Is this allowed?
Given you plan to re-mortgage then Yorkshire BS will require that you use a conveyancer on the Yorkshire BS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Yorkshire BS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Yorkshire BS mortgage is registered as a charge at the Land Registry.
I have recentlybeen informed that Wolstenholmes have been shut down. They conducted my conveyancing in Coningsby for a purchase of a leasehold flat 18 months ago. How can I establish that the property is in my name in the name of the previous owner?
The easiest way to check if the premises is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Coningsby conveyancing specialists.
Am I best advised to instruct a Coningsby conveyancing lawyer based in the vicinity that I am hoping to buy? I have an old university friend who can conduct the legal formalities but they are based over three hundred miles away.
The primary upside of using a high street Coningsby conveyancing practice is that you can visit the firm to execute paperwork, deliver your identification documents and apply pressure on them where appropriate. They will also have local knowledge which is a benefit. However it's more important to get someone that will do a good and efficient job. If other friends have instructed your friend and they were content that should trump using an unknown Coningsby conveyancing solicitor just because they are based in the area.
One month into purchasing a property in Coningsby. Conveyancing solicitor has phoned to say the property is "Leasehold". Does this impact the marketability of the property?
Coningsby conveyancing does not in most situations involve leasehold houses. The crucial consideration here is the unexpired lease term and the ground rent. If it's 999 years with a peppercorn rent, it's almost the same as freehold, so it’s unlikely to impact the value too much.
On the flip side, if it's, say, Sixty years it will have a significant effect on the value, and most likely wouldn't be mortgageable. The length of lease and ground rent will be set out in the lease which should be made available to your solicitor.