My wife and I have recently purchased a house in Lisvane. We have noticed several issues with the property which we believe were omitted in the conveyancing searches. What action can we take? What searches should? have been conducted for conveyancing in Lisvane?
It is not clear from the question as what problems have arisen and if they are specific to conveyancing in Lisvane. Conveyancing searches and due diligence undertaken as part of the buying process are designed to help avoid problems. As part of the process, a property owner completes a questionnaire referred to as a Seller’s Property Information Form. If the information turns out to be misleading, you could possibly take legal action 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 Lisvane.
It is 10 years ago since I acquired my home in Lisvane. Conveyancing lawyers have recently been instructed on the sale but I am unable to locate my deeds. Is this a problem?
You need not be too concerned. Firstly there is a possibility that the deeds will be kept by your lender or they may be in the possession of the conveyancers who handled your purchase. Secondly in all probability the land will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing solicitors acquiring current official copies of the land registers. The vast majority of conveyancing in Lisvane involves registered property but in the unlikely event that your property is unregistered it is more of a problem but is not insurmountable.
What can a local search inform me regarding the property we're buying in Lisvane?
Lisvane conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search company for example Searchflow The local search is essential in every Lisvane conveyancing purchase; as long as you don’t want any unpleasant surprises after you move into your property. The search should reveal information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic areas.
I used Action Conveyancing several years past for my conveyancing in Lisvane. Now, I need my files but the law firm is no longer operating. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Lisvane of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am purchasing a new build house in Lisvane with a loan from Bank of Ireland. The sellers would not reduce the amount so I negotiated five thousand pounds worth of additionals instead. The estate agent advised me not inform my lawyer about this side-deal as it would adversely affect my loan with the lender. 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.
Can you provide any advice for leasehold conveyancing in Lisvane from the point of view of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Lisvane can be avoided if you get in touch lawyers the minute you market your property and request that they start to put together the leasehold information which will be required by the purchasers’ conveyancers. In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Most leases in Lisvane state that internal structural changes or laying down wooden flooring necessitate a licence from the Landlord consenting to such works. Where you dont have the paperwork in place do not contact the landlord without contacting your conveyancer in the first instance. If there is a history of any disputes with your freeholder or managing agents it is essential that these are settled before the property is put on the market. The buyers and their solicitors will be warry about purchasing a property where a dispute is unresolved. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to present the dispute as historic rather than ongoing. You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this via your lawyers. A purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is under 80 years. It is therefore essential at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. If you hold a share in a the Management Company, you should make sure that you have the original share document. Arranging a duplicate share certificate can be a lengthy formality and slows down many a Lisvane home move. Where a duplicate share is required, you should approach the company officers or managing agents (if relevant) for this sooner rather than later.
I purchased a garden flat in Lisvane, conveyancing was carried out in 2006. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Lisvane with over 90 years remaining are worth £265,000. The ground rent is £50 yearly. The lease terminates on 21st October 2100
With only 75 years remaining on your lease we estimate the price of your lease extension to span between £8,600 and £9,800 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.