Last June we completed a house move in Cringleford. We have noticed several issues with the property which we suspect were missed in the conveyancing searches. Do we have any recourse? Can you clarify the type of searches that should have been conducted as part of conveyancing in Cringleford?
The query is vague as to the nature of the problems and if they are specific to conveyancing in Cringleford. Conveyancing searches and due diligence initiated as part of the legal transfer of property are designed to help avoid problems. As part of the process, a seller answers a form referred to as a Seller’s Property Information Form. answers ends up being inaccurate, you may have a misrepresentation claim against the seller 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 Cringleford.
Do the Building Society Association intend to launch a online directory to to identify law firms on the Loughborough BS conveyancing panel for example in Cringleford?
We are not aware of any intention on the part of the BSA to promote such a search facility.
We are close to exchanging contracts on the sale of our house in Cringleford and according to the buyers it appears that there is a risk of it being constructed on contaminated land. Any high street Cringleford lawyer would know that there is no such problem. For the life of me I don't know why the purchasers used an online conveyancing firm as opposed to a conveyancing solicitor in Cringleford. Having lived in Cringleford for six years we know that this is a non issue. Should we get in touch with our local Authority to obtain clarification that there is no issue.
It would appear that you have a conveyancing lawyer already. Are they able to advise? You need to check with 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)
three months have elapsed since my purchase conveyancing in Cringleford took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. 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 residence 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.
I am buying a new build house in Cringleford with a loan from Barclays Direct. The builders would not move on the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent told me not to tell my solicitor about this side-deal as it will jeopardize my mortgage with Barclays Direct. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I have been on the look out for a leasehold apartment up to £235,500 and found one close by in Cringleford I like with a park and railway links nearby, the downside is that it's only got 49 years on the lease. I can't really find anything else in Cringleford in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
If you require a mortgage the shortness of the lease will be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this.