Last December we completed a house move in Somerstown. We have since encountered a number of problems with the property which we suspect were missed in the conveyancing searches. What action can we take? Can you clarify the nature of searches that should have been ordered for conveyancing in Somerstown?
The question is vague as what problems have arisen and if they are specific to conveyancing in Somerstown. Conveyancing searches and investigations undertaken during the legal transfer of property are carried out to help avoid problems. As part of the legal transfer of property, a property owner completes a document referred to as a Seller’s Property Information Form. If the information provided is misleading, you may have a misrepresentation 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 Somerstown.
My mortgage company has suggested solicitors on their panel based in Somerstown but I would rather instruct a conveyancing lawyer in Somerstown round the corner to me. Can you help?
It is by no means the case that all Somerstown conveyancing solicitors are approved and listed on all banks conveyancing panel. Use the above find an approved solicitor tool to locate a Somerstown conveyancing firm on the on the bank panel.
Do commercial conveyancing searches disclose planned roadworks that could affect a commercial site in Somerstown?
Many commercial conveyancing solicitors in Somerstown will carry out a SiteSolutions Highways report as it reduces the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in Somerstown. The report sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Somerstown.
For each commercial conveyancing transaction in Somerstown it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately may cause delays to Somerstown commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not carried out for domestic conveyancing in Somerstown.
I am buying my first flat in Somerstown benefiting from help to buy. The developers refused to reduce the price so I negotiated five thousand pounds worth of extras instead. The house builders rep told me not reveal to my solicitor about this deal as it may adversely affect my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
I am employed by a long established estate agent office in Somerstown where we see a number of leasehold sales derailed due to short leases. I have received conflicting advice from local Somerstown conveyancing solicitors. Please can you clarify whether the vendor of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Despite our best endeavours, we have been unsuccessful in trying to purchase the freehold in Somerstown. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most certainly. We are happy to put you in touch with a Somerstown conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Somerstown flat is Flat 120, Clare Court Judd Street in August 2013. the Tribunal held that the premium to be paid for the extension of the lease should be £64,650 This case related to 1 flat. The number of years remaining on the existing lease(s) was 62.79 years.
My mum and dad are unable to locate their Somerstown land registry title on the online search facility. They recall that 50 years ago when they bought the property there were complications concerning Somerstown not being identified on some systems.
Almost all residences in Somerstown should appear. Have you limited your search with just the postcode. Ordinarily it will reveal all the premises inside that postcode. Where recorded it will show up with a title number. If they bought back in the 60’s it's conceivable it may be unrecorded. The property may still be revealed but with the title number identified as 'na'. In this scenario you will need to locate the original title documentation which might be with your parent’s lender.