My brother and I have just acquired a house in Petersham. We have since encountered a number of problems with the property which we believe were overlooked in the conveyancing searches. Is there anything we can do? What searches should? have been conducted as part of conveyancing in Petersham?
The question is vague as what problems have arisen and if they are relate to conveyancing in Petersham. Conveyancing searches and investigations initiated as part of the buying process are supposed to help avoid problems. As part of the legal transfer of property, the vendor fills in a form known as a SPIF. If the information provided is inaccurate, you may have a misrepresentation 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 Petersham.
The Petersham conveyancing solicitors that I recently instructed on my house acquisition in Petersham have suddenly shut down. I only went with them because I needed a lawyer on the Bank of Ireland conveyancing panel and my preferred Petersham lawyer was not. I paid them funds in advance. What do I do now?
Assuming that you have an Estate Agent in the equation then inform them immediately so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Bank of Ireland conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to help.
There are plenty of conveyancing solicitors in Petersham but how do I know who I should use?
Do not opt for the lowest Petersham conveyancing fees. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in advance.
We have agreed to purchase a house in Petersham. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender TSB be concerned?
As you are obtaining a mortgage with TSB your lawyer must follow the formal instructions contained in Part 2 of UK Finance Lenders’ Handbook for TSB. The Council of Mortgage Lenders’ Handbook sets out minimum specifications for solar panel roof-space leases, and conveyancers are required to report to TSB where a lease fails to satisfy these provisions. The requirements relate to the installation of panels on properties countrywide and is not limited to Petersham.
My offer on a house in Petersham has been accepted, the owners do however have a tied purchase. The owners have put an offer on on an apartment, however it’s not yet agreed to, and have viewings of other properties booked. I have selected a local conveyancing solicitor in Petersham. What should be my next step? At what stage should I apply for the mortgage with Bank of Ireland?
It is understandable to have anxieties where there is a chain as you are unlikely to want to incur expenses prematurely (mortgage application is in the region of £1k, then survey, Petersham conveyancing search charges, etc). First, you must check that your solicitor is on the Bank of Ireland approved list. Concerning the next steps this very much depends on the uniqueness of your transaction, desire for this property and on the state of the market. In a rising market many home buyers would apply for a home loan with Bank of Ireland and pay for the valuation and only if it comes back ok would they pay their lawyer to press on with searches.
Due to the advice of my in-laws I had a survey completed on a house in Petersham ahead of appointing conveyancers. I have been told that there is a flying freehold element to the house. Our surveyor has said that some lenders may not issue a loan on such a home.
It depends who your proposed lender is. HSBC has different requirements for example to Birmingham Midshires. If you call us we can investigate further via the relevant lender. If you lender is happy to lend one our lawyers can assist 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.
Do I need to be concerned about brokers that I am dealing with are encouraging me to use a nationwide conveyancing firm rather than a local Petersham conveyancing company?
As with lots of service providers, often suggestions from connections can be worth their weight in gold. Nevertheless there are lots of parties with a keen interest in a conveyancing deal; estate agents, mortgage brokers and mortgage companies may put forward solicitors to instruct. On occasion the conveyancers might be known to one of the organisations as experts in their field, but occasionally there might be a commercial relationship behind the endorsement. You are free to choose your own lawyer. You need to be aware that many mortgage providers specify a panel list of conveyancers you must use for the lender aspect of your house move.
We are considering using an online conveyancer rather than a Petersham conveyancing practice. Any advice?
Advantages do exist in having the opportunity to visit a local Petersham conveyancing solicitor for example
- signing documents and and when necessary
- getting one on one explanations of things that need explaining
- the ability to raise concerns if things need to addressed
When analysing quotes, look carefully for hidden extras. Most decent Petersham high street solicitors give an all-inclusive price. Many online agents seem to offer discounted fees, but have hidden 'extras' in the small print.