My partner and I have just bought a house in Looe. We have noticed several issues with the house which we consider were omitted in the conveyancing searches. Do we have any recourse? What searches should? have been ordered as part of conveyancing in Looe?
It is not clear from the question as to the nature of the problems and if they are unique to conveyancing in Looe. Conveyancing searches and investigations initiated during the buying process are carried out to help avoid problems. As part of the legal transfer of property, a seller fills in a document called a Seller’s Property Information Form. answers proves to be inaccurate, then you may have a 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 Looe.
We are expecting a mortgage offer soon. The bank mentioned the mortgage came with free conveyancing. Does this mean I have to use their panel lawyer as I would prefer to use a local conveyancing solicitor in Looe?
You should check but the chances are that allocate you one of their panel lawyers if you accept the "fee-free" deal. Call the mortgage company and check if they allow a monetary alternative. In the past a few mortgage companies offered a £250 cashback as a further option in which case you could put that amount towards your preferred conveyancing solicitor near Looe.
Me and my brother have a 4 bedroom Edwardian property in Looe. Conveyancing lawyer represented me and Barclays Direct. I did a free Land Registry search last week and I saw two entries: one for freehold, the second leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You need to 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 Looe 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 mortgage companies. You can also enquire as to the situation with the conveyancing lawyer who conducted the purchase.
How does conveyancing in Looe differ for new build properties?
Most buyers of new build residence in Looe come to us having been asked by the seller to exchange contracts and commit to the purchase even before the house is completed. This is because developers in Looe usually acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Looe or who has acted in the same development.
I am looking for a leasehold apartment up to £305k and found one round the corner in Looe I like with amenity areas and railway links in the vicinity, however it's only got 52 remaining years left on the lease. There is not much else in Looe for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a home loan the remaining unexpired lease term will likely be a potential deal breaker. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you may ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
Much to my surprise my conveyancing solicitor in Looe is asking me for ID documents saying that this forms part of his obligations as a conveyancer on the mortgage company Solicitor panel. Is this right?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offence if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage, your lawyer also has to check ID documents to satisfy the lender. This is not specific to conveyancing in Looe