My partner and I have recently bought a house in Harleston. We have noticed several issues with the house which we suspect were overlooked in the conveyancing searches. What action can we take? Can you clarify the nature of searches that needed to have been conducted for conveyancing in Harleston?
It is not clear from the question as to the nature of the problems and if they are specific to conveyancing in Harleston. Conveyancing searches and investigations undertaken as part of the buying process are supposed to help avoid problems. As part of the process, a seller answers a form called a Seller’s Property Information Form. answers provided is 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 Harleston.
Why is leasehold purchase conveyancing in Harleston costs more?
In short, leasehold conveyancing in Harleston and Norfolk usually involve extra hours of investigation compared to freehold transactions. This includes reviewing the lease, liaising with the landlord concerning serving applicable notices, obtaining current service charge and management information, obtaining the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different proprietor have owned the lease since it was first granted.
My grandfather passed away 10 months ago and as sole heir and executor I was left the house in Harleston. The house had a small mortgage remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to Bank of Ireland, pay off the mortgage. Is this allowed?
If you plan to re-mortgage then Bank of Ireland will require that you use a conveyancer on the Bank of Ireland 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 Bank of Ireland 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 Bank of Ireland mortgage is registered as a charge at the Land Registry.
I appreciate that there are debates on Chancel Insurance on online forums. Do I require chancel insurance when acquiring a house in Harleston? or Apparently there is historic law that means some homeowners residing in a parish church boundary may be liable to contribute towards repairs to the chancel in proximity to the church. Is this a legitimate concern for conveyancing in Harleston?
Unless a previous acquisition of the property took place post 12 October 2013 you can expect conveyancing practitioners conducting conveyancing in Harleston to remain encouraging a chancel search and or chancel repair liability insurance.
I am looking at a two maisonettes in Harleston both have in the region of fifty years remaining on the leases. should I be concerned?
A lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the saleability of the lease reduces and results in it becoming more costly to extend the lease. This is why it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this arena.
I inherited a studio flat in Harleston, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Harleston with an extended lease are worth £180,000. The average or mid-range amount of ground rent is £65 levied per year. The lease ends on 21st October 2084
You have 58 years unexpired we estimate the premium for your lease extension to span between £22,800 and £26,400 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.
I am just shy of a 10% deposit on my house purchase in Harleston , but I am keen proceed. What can I do?
One option is to try and agree a smaller deposit. Many sellers will accept a lower deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last second