Last May we completed a house move in Loughborough. We have noticed several problems with the property which we believe were omitted in the conveyancing searches. What action can we take? What searches should? have been carried out for conveyancing in Loughborough?
The question is not clear as to the nature of the problems and if they are specific to conveyancing in Loughborough. Conveyancing searches and investigations undertaken as part of the legal transfer of property are carried out to help avoid problems. As part of the process, a seller fills in a document known as a Seller’s Property Information Form. If the information turns out to be inaccurate, then you may have a claim against the vendor 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 Loughborough.
It is is a decade since I acquired my home in Loughborough. Conveyancing lawyers have recently been retained on the sale but I am unable to find the title deeds. Will this jeopardise the sale?
You need not be too concerned. First there is a chance that the deeds will be retained by your lender or they could be in the possession of the solicitor who acted in your purchase. Secondly the chances are that the property will be registered at the land registry and you will be able to establish that you own the property by your conveyancing lawyers obtaining current official copies of the land registers. Most conveyancing in Loughborough involves registered property but in the unlikely event that your home is not registered it adds to the complexity but is resolvable.
I am considering refinancing my home in Loughborough, does my lawyer have to be on the Virgin Money Solicitor panel?
In theory, you could use a solicitor that is not on the Virgin Money conveyancing panel, but Virgin Money would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
five months have elapsed following my purchase conveyancing in Loughborough concluded. I have checked the Land Registry website 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 premises 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.
How does conveyancing in Loughborough differ for newly converted properties?
Most buyers of new build premises in Loughborough contact us having been asked by the builder to sign contracts and commit to the purchase even before the house is built. This is because house builders in Loughborough usually purchase the land, 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 conveyancers 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 Loughborough or who has acted in the same development.
Am I best advised to choose a Loughborough conveyancing practitioner in close proximity to the house I am purchasing? I have an old university friend who can carry out the conveyancing however they are based over three hundred miles away.
The primary upside of using a high street Loughborough conveyancing practice is that you can attend the office to execute documents, present your ID and pester them if necessary. Having local Loughborough know how is a plus. However nothing is more important than finding someone that will do a good and efficient job. If other friends have instructed your friend and on the whole were content that must trump using an unfamiliar Loughborough conveyancing lawyer just because they are local.