My brother and I have just acquired a house in Norbury. We have noticed several problems with the house which we consider were missed in the conveyancing searches. What action can we take? Can you clarify the type of searches that should have been conducted as part of conveyancing in Norbury?
The question is not clear as to the nature of the problems and if they are unique to conveyancing in Norbury. Conveyancing searches and due diligence initiated during the buying process are supposed to help avoid problems. As part of the legal transfer of property, the vendor answers a questionnaire called a SPIF. If the information is misleading, then you may have a claim 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 Norbury.
is it true that all Norbury conveyancing solicitors on the Skipton conveyancing panel are governed by the SRA?
As solicitors, in order to be on the Skipton approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. The majority of banks do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers.
We previously appointed conveyancing lawyers locally in Norbury on the HSBC solicitor approved list. They are now charging me a further sum for the legal aspects of the HSBC mortgage. Is this an additional conveyancing fee set by HSBC?
As unfair as it may seem, as long as it’s in their Terms of Engagement or estimate then yes your solicitor may levy a fee for this. This charge is not set by HSBC but by your Norbury conveyancing practitioner. Some firms on the HSBC panel will quote ’dealing with mortgage’ fee but some firms incorporate it on their overall fee.
It is not clear whether my lender requires a lease extension. I have telephoned my Norbury bank branch on numerous occasions and was told it wasn't an issue and they would lend. My Norbury conveyancing solicitor - who is on the lender conveyancing panel- called and was told they would not lend in accordance with their specific requirements. I simply don't know who is right.
Provided that the property lawyer is on the lender approved list, she or he must follow the CML Handbook requirements for the lender. 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 bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
It has been 3 months since my purchase conveyancing in Norbury took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £170,000. 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 residence 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.
I am buying my first flat in Norbury benefiting from help to buy. The builders refused to budge the amount so I negotiated £7000 of extras instead. The house builders rep told me not inform my conveyancer about the side-deal as it would put at risk my mortgage with Barnsley Building Society. 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.
Due to the input of my in-laws I had a survey completed on a house in Norbury in advance of instructing solicitors. I have been advised that there is a flying freehold element to the house. My surveyor advised that some lenders will not grant a mortgage on such a property.
It depends who your proposed lender is. Bank of Scotland has different instructions from Halifax. If you call us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Norbury. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Norbury to see if the conveyancing will be more expensive.
Am I better off to go with a Norbury conveyancing practitioner who is local to the property I am purchasing? We have a good friend who can conduct the conveyancing however his firm is located a couple of hundredmiles drive away.
The benefit of a high street Norbury conveyancing firm is that you can attend the office to sign documents, hand in your identification documents and pester them if necessary. Having local Norbury know how is a bonus. That being said nothing is more important than finding someone that will pull out all the stops for you. If if people you trust instructed your friend and they were happy that should trump using an unknown Norbury conveyancing solicitor solely due to them being based in the area.