My brother and I have recently acquired a house in Ottershaw. We have noticed several problems with the property which we believe were omitted in the conveyancing searches. What action can we take? Can you clarify the nature of searches that needed to have been ordered for conveyancing in Ottershaw?
The query is vague as what problems have arisen and if they are unique to conveyancing in Ottershaw. Conveyancing searches and due diligence undertaken as part of the buying process are supposed to help avoid problems. As part of the legal transfer of property, the vendor completes a form referred to as a SPIF. If the information ends up being 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 Ottershaw.
Can I use your services to find a Conveyancing solicitor in Ottershaw even if I’m not purchasing or selling a house, for instance if I wish to acquire an office in Ottershaw with a mortgage from Barclays ?
Our comparison service is mainly used to locate residential conveyancing solicitors in Ottershaw but we have listed at the end of this page a selection of Ottershaw commercial conveyancing firms. You will need to make contact with the company directly to establish if they are also authorised to represent Barclays
We have a mortgage agreed in principle with HSBC. Ottershaw conveyancing practitioners have been selected. What is the average time that one could expect to receive a mortgage offer from HSBC?
Some lenders take longer than others. Have HSBC completed the valuation? Have you advised HSBC as to your lawyers' details and checked that your lawyers are on the HSBC conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
We have agreed to purchase a house in Ottershaw. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender HSBC be concerned?
As your lender is HSBC your lawyer must comply with the formal instructions outlined in Part two of UK Finance Lenders’ Handbook for HSBC. The Council of Mortgage Lenders’ Handbook stipulates minimum requirements for solar panel roof-space leases, and conveyancing practitioners are required to report to HSBC where a lease fails to meet these provisions. The provisions relate to the installation of panels on properties nationwide and is not restricted to Ottershaw.
My sealed bid on a detached house in Ottershaw has been agreed to, the sellers do nevertheless have a dependent purchase. The sellers have placed an offer on somewhere, but it’s not yet agreed to, and are looking at other apartments in the pipeline. I have selected a high street conveyancing solicitor in Ottershaw. What should be my next step? At what point should I apply for the mortgage with Kent Reliance?
It is normal to have apprehensions where there is a chain as you are unlikely to want to incur costs prematurely (mortgage application is approx one thousand pounds, then survey, Ottershaw conveyancing search fees, etc). The first course of action is to check that your conveyancer is on the Kent Reliance approved list. Regarding the next phase this very much depends on the specifics of your transaction, attraction to this property and on the state of the market. In a buoyant market some buyers would apply for the mortgage with Kent Reliance and pay for the valuation and only if it was satisfactory would they request their conveyancing practitioner to move forward with the conveyancing in Ottershaw.
Just had an offer accepted on a new build apartment in Ottershaw. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Ottershaw
-
Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? 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. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
Having had my offer accepted I require leasehold conveyancing in Ottershaw. Before I get started I require certainty as to the number of years remaining on the lease.
Assuming the lease is registered - and 99.9% are in Ottershaw - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Leasehold Conveyancing in Ottershaw - A selection of Questions you should ask before buying
-
What is the the remaining lease term? Best to be warned whether redecorating or some other significant cost is due shortly that will be shared by the leaseholders and may well materially increase the the service costs or require a specific payment. If a Ottershaw lease has less than eighty years it will have adverse implications on the marketability of the apartment. Check with your bank that they are willing to lend given the lease term. Leases with less than 80 years remaining means that you will most likely need a lease extension sooner rather than later and you need to have some idea of how much this will be. Remember, in most cases you would need to own the residence for a couple of years in order to be legally able to extend the lease.
Do I cancel my mortgage payments with Bank of Ireland as soon as a completion date for my home sale in Ottershaw has been agreed?
You would be well advised to keep meeting any mortgage payments to Bank of Ireland pending the mortgage being discharged on completion as part of your Ottershaw conveyancing.