My brother and I have just bought a property in Cowes. We have noticed several issues with the house which we believe were missed in the conveyancing searches. Is there anything we can do? What searches should? have been ordered for conveyancing in Cowes?
It is not clear from the question as what problems have arisen and if they are unique to conveyancing in Cowes. Conveyancing searches and due diligence initiated as part of the legal transfer of property are carried out to help avoid problems. As part of the legal transfer of property, a seller answers a form called a SPIF. answers turns out to be inaccurate, 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 Cowes.
Can I be sure that the Cowes conveyancing solicitor on the TSB panel is any good?
When it comes to conveyancing in Cowes seeking recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advise that you speak with the lawyer handling your transaction.
I have paid off my mortgage with Coventry BS. I assume I don't need a Cowes property lawyer on the Coventry BS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Coventry BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Coventry BS mortgage from the register. Coventry BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Coventry BS has sent the Land Registry the discharge electronically, and
- Coventry BS has instructed the Land Registry to do so
At last I have had an offer on an apartment in Cowes accepted, but there is a chain. The owners have offered on somewhere, however it’s not yet tied up, and have viewings of other apartments booked. I have selected a local conveyancing solicitor in Cowes. What do I do now? At what stage do I apply for the mortgage with Virgin Money?
It is normal to have anxieties where there is a chain as you are unlikely to want to incur costs prematurely (mortgage application is approx £1k, then valuation, Cowes conveyancing search costs, etc). First, you must ensure that your conveyancer is on the Virgin Money approved list. As to the subsequent stages this very much depends on the uniqueness of your case, attraction to this property and on the state of the market. During a hot market some purchasers will apply for the mortgage with Virgin Money and pay for the valuation and only if it comes back ok would they pay their property lawyer to proceed with the conveyancing in Cowes.
Me and my brother have a semi-detached Edwardian property in Cowes. Conveyancing lawyer represented me and National Westminster Bank. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, another for leasehold under the matching address. If a house is not a freehold shouldn't I have been informed?
You should assess 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 Cowes 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 buyers. You can also enquire as to the situation with your conveyancing practitioner who completed the work.
I decided to have a survey completed on a property in Cowes prior to instructing solicitors. I have been told that there is a flying freehold element to the house. Our surveyor has said that some lenders will not issue a loan on a flying freehold house.
It depends who your proposed lender is. Santander has different instructions for example to Birmingham Midshires. If you e-mail us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Cowes. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Cowes to see if the conveyancing will be more expensive.
Completion is due on our sale of a £475,000 apartment in Cowes next week. The management company has quoted £300 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Cowes?
Cowes conveyancing on leasehold maisonettes normally involves the purchaser’s conveyancer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to address such questions most will be willing to do so. They are at liberty to charge a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some cases it exceeds £800. The administration charge required by the landlord must be sent together with a synopsis of rights and obligations in relation to administration fees, without which the invoice is not strictly payable. Reality however dictates that one has no option but to pay whatever is demanded should you wish to sell the property.
I own a ground floor flat in Cowes, conveyancing formalities finalised September 2008. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Cowes with over 90 years remaining are worth £190,000. The average or mid-range amount of ground rent is £65 levied per year. The lease comes to an end on 21st October 2086
You have 61 years left to run we estimate the premium for your lease extension to range between £19,000 and £22,000 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.
Would local authority consent be necessary to change a single dwelling into a couple of appartments in Cowes? This has taken place to a property opposite to a relative in Cowes and was not aware of it happening until the works were finished.
Planning permission is required for converting a single house in Cowes into apartments but possibly not for reverting back to single dwelling-house so, in answer to your query, yes,a it is required.