My wife and I have just purchased a property in Felixstowe. We have noticed several issues with the house which we believe were omitted in the conveyancing searches. Do we have any recourse? What searches should? have been ordered for conveyancing in Felixstowe?
It is not clear from the question as to the nature of the problems and if they are relate to conveyancing in Felixstowe. Conveyancing searches and investigations initiated during the buying process are carried out to help avoid problems. As part of the legal transfer of property, the vendor fills in a form known as a Seller’s Property Information Form. If the information provided is inaccurate, you could possibly take legal action 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 Felixstowe.
I purchased a freehold house in Felixstowe but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Felixstowe and has limited impact for conveyancing in Felixstowe but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
Is it the case that all Felixstowe conveyancing solicitors on the Santander conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Santander conveyancing panel they would need to be overseen by the Solicitors Regulatory Authority. Some banks do allow licenced conveyancers on their panel and in such a situation the practice would be regulated by the Council of Licensed Conveyancers.
I have decided to exercise my right to buy my property in Felixstowe off the council. I have a mortgage offer with Co-operative. Conveyancing is not something I have any knowledge of. 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 Co-operative, you will need to appoint a solicitor on the Co-operative conveyancing panel.
I can not fathom if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Felixstowe building society branch on various occasions and was told it does not affect the mortgage offer and they would lend. My Felixstowe conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they would not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
The lawyer has to follow the Council of Mortgage Lenders’ Handbook section two requirements for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Just acquired a detached house in Felixstowe , What is the estimated time for the Land Registry to deal with the formalities evidencing my title? My Felixstowe conveyancing solicitor has been painfully slow, so I want to check the registration is addressed.
There is nothing unique when it comes to conveyancing in Felixstowe registration formalities. As opposed to being determined by geographic area, timeframes can vary according to the party submitting the application, whether there are errors and if the Land registry communicate with any other persons or bodies. Currently roughly 80% of submission are completed in less than three weeks but occasionally there can be longer delays. Historically registration occurs once the buyer has moved in to the property so 'speed' is not usually primary concern but if there is a degree of urgency associated with the registration then you or your conveyancer could communicate with the Registry to express the reasoning for an expedited registration.
I'm purchasing a new build house in Felixstowe with the aid of help to buy. The sellers refused to move on the price so I negotiated £7000 of additionals instead. The estate agent advised me not to tell my solicitor about the side-deal as it will impact my loan with the lender. Should I keep quiet?.
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 recently realised that I have 72 years unexpired on my lease in Felixstowe. I now wish to extend my lease but my freeholder is can not be found. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to demonstrate that you have done all that could be expected to find the landlord. On the whole a specialist should be helpful to try and locate and prepare an expert document which can be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a property lawyer both on investigating the landlord’s disappearance and the application to the County Court covering Felixstowe.
I inherited a basement flat in Felixstowe, conveyancing having been completed June 1998. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Felixstowe with an extended lease are worth £176,000. The ground rent is £50 levied per year. The lease comes to an end on 21st October 2105
With only 80 years unexpired we estimate the premium for your lease extension to be between £8,600 and £9,800 plus legals.
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 detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.