Last September we completed a house move in Old Ford. We have since encountered a number of problems with the house which we suspect were overlooked in the conveyancing searches. What action can we take? What searches should? have been ordered for conveyancing in Old Ford?
The question is vague as what problems have arisen and if they are relate to conveyancing in Old Ford. Conveyancing searches and investigations initiated during the legal transfer of property are carried out to help avoid problems. As part of the process, the vendor fills in a document called a SPIF. answers proves to be incorrect, 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 Old Ford.
What does my ID and proof of funds have anything to do with my conveyancing in Old Ford? What am I being asked for?
Old Ford conveyancing solicitors and indeed property lawyers throughout the UK have an obligation under Anti-terror and anti-money-laundering rules to check the ID of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to disclose two forms of certified identification; proof of identity (typically a Passport or Driving Licence) and proof of address (typically a Bank Statement no more than three months).
Confirmation of source of funds is also necessary in accordance with the money laundering regulations as lawyers are duty bound to investigate that the funds you are using to purchase a property (whether it be the deposit for exchange or the full purchase price where you are a cash purchaser) has come from legitimate source (such as an inheritance) and is not the product of illegitimate behaviour.
My wife and I have recently appointed a conveyancing solicitor in Old Ford. I I am struggling to find out if they are accepted on the Santander approved list of lawyers. Could you help?
You should call the solicitor and enquire if they are on the lender panel. Otherwise you should call Santander who may be able to help.
How can we know in advance if a Old Ford conveyancing solicitor on the Coventry BS panel is any good?
When it comes to conveyancing in Old Ford seeking recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always suggest that you speak with the solicitor carrying out your transaction.
I had a mortgage agreed in principle with Kent Reliance. Old Ford conveyancing solicitors were selected. What is the average time that one could expect to receive a mortgage offer from Kent Reliance?
There is no definitive answer here. Have Kent Reliance completed the survey? Have you informed Kent Reliance as to your lawyers' details and checked that your lawyers are on the Kent Reliance conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
It is unclear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Old Ford bank branch on a couple of occasions and was advised it wasn't a problem and they will lend. My Old Ford conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
As long as the property lawyer is on the mortgage company approved list, she or he must follow the Council of Mortgage Lenders’ Handbook specifications for the lender. Unless your lawyer obtains specific confirmation in writing that the lender 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 remaining.
Just had an offer accepted on a new build flat in Old Ford. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Old Ford
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I am looking at a two apartments in Old Ford which have in the region of fifty years left on the lease term. Will this present a problem?
There are plenty of short leases in Old Ford. The lease is a right to use the premises for a period of time. As a lease gets shorter the value of the lease deteriorates and it becomes more costly to acquire a lease extension. For this reason it is advisable to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this field.
I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Old Ford conveyancing firm to act on my behalf?
Most certainly. We are happy to put you in touch with a Old Ford conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Old Ford premises is 26 Rhondda Grove in June 2009. The net price payable by the leaseholders as determined by the Tribunal was £3,015.13. This comprised £11,300 premium for the reversion less £8,284.87 costs as ordered by the County Court.