My partner and I have recently purchased a property in Petersham. We have since encountered a number of problems with the property which we believe were missed in the conveyancing searches. Do we have any recourse? What searches should? have been ordered as part of conveyancing in Petersham?
The question is not clear as to the nature of the problems and if they are specific to conveyancing in Petersham. Conveyancing searches and investigations initiated during the buying process are designed to help avoid problems. As part of the legal transfer of property, a property owner answers a form called a SPIF. answers proves to be incorrect, 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 Petersham.
Will our conveyancer be asking questions concerning flooding as part of the conveyancing in Petersham.
The risk of flooding is if increasing concern for solicitors carrying out conveyancing in Petersham. Some people will acquire a property in Petersham, completely expectant that at some time, it may be flooded. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or sell the property. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Solicitors are not best placed to impart advice on flood risk, but there are a numerous checks that may be carried out by the buyer or on a buyer’s behalf which will figure out the risks in Petersham. The conventional set of completed inquiry forms sent to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual inquiry of the seller to discover whether the premises has suffered from flooding. If the residence has been flooded in past which is not notified by the vendor, then a buyer may commence a legal claim for losses resulting from an inaccurate response. The buyer’s conveyancers will also conduct an environmental report. This will reveal if there is a recorded flood risk. If so, further investigations will need to be initiated.
Me and my brother have a renovated Edwardian property in Petersham. Conveyancing practitioner acted for me and Skipton Building Society. I did a free Land Registry search last week and I saw two entries: one for freehold, the second leasehold with the matching address. Is it worth asking Skipton Building Society to clarify?
You should read 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Petersham and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the situation with your conveyancing lawyer who conducted the work.
I am purchasing a new build house in Petersham with a loan from Leeds Building Society. The sellers would not reduce the amount so I negotiated five thousand pounds worth of additionals instead. The sale representative told me not to tell my lawyer about this deal as it would put at risk my mortgage with the bank. Should I keep quiet?.
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 encouragement of my in-laws I had a survey completed on a house in Petersham ahead of retaining solicitors. I have been told that there is a flying freehold aspect to the house. My surveyor advised that some lenders tend refuse to issue a mortgage on this type of property.
It depends who your proposed lender is. HSBC has different requirements for example to Halifax. If you e-mail us we can look into this further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Petersham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Petersham to see if the conveyancing will be more expensive.
My husband and I may need to sub-let our Petersham 1st floor flat temporarily due to taking a sabbatical. We used a Petersham conveyancing practice in 2002 but they have closed and we did not think at the time get any advice as to whether the lease permits subletting. How do we find out?
Your lease dictates relations between the landlord and you the leaseholder; specifically, it will set out if subletting is not allowed, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Petersham do not prevent an absolute prevention of subletting – such a clause would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.
I am the leaseholder of a two-bedroom flat in Petersham. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the premium due for a lease extension?
Most certainly. We are happy to put you in touch with a Petersham conveyancing firm who can help.
An example of a Lease Extension decision for a Petersham flat is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case was in relation to 1 flat. The unexpired lease term was 60.45 years.