My wife and I have just purchased a house in South Petherton and Lambrook. We have since encountered a number of problems with the property which we suspect were overlooked in the conveyancing searches. Is there anything we can do? Can you clarify the type of searches that should have been conducted as part of conveyancing in South Petherton and Lambrook?
It is not clear from the question as what problems have arisen and if they are relate to conveyancing in South Petherton and Lambrook. Conveyancing searches and due diligence initiated as part of the legal transfer of property are supposed to help avoid problems. As part of the process, the vendor completes a questionnaire called a SPIF. If the information ends up being inaccurate, you could possibly take legal action 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 South Petherton and Lambrook.
Can you explain why leasehold purchase conveyancing in South Petherton and Lambrook costs more?
In summary, leasehold conveyancing in South Petherton and Lambrook and Somerset usually warrants more due diligence compared to freehold transactions. This includes lease investigation, communicating with the landlord concerning serving required notices, obtaining current service charge and management information, obtaining the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different leaseholders have owned the lease since it was first granted.
My grandmother passed away six months ago and as sole heir and executor I was left the house in South Petherton and Lambrook. The house had a small mortgage left on it of around £8000. I want to have the title changed into my name whilst I re-mortgage to Coventry BS, pay off the mortgage. Is this allowed?
If you intend to re-mortgage then Coventry BS will require that you use a conveyancer on the Coventry BS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Coventry BS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Coventry BS mortgage is registered as a charge at the Land Registry.
A relative informed me that in buying a property in South Petherton and Lambrook there may be various restrictions as to what one can do in terms of external changes to the property. Is this right?
We are aware of a number of properties in South Petherton and Lambrook which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in South Petherton and Lambrook should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have instructed a South Petherton and Lambrook lawyer having checked that they are on the Lloyds conveyancing panel. Does my lawyer arrange the survey of the property?
Lloyds will need an independent valuation of the property. Your lawyer will not arrange this. Usually Lloyds will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your South Petherton and Lambrook postcode. As you are getting a mortgage with Lloyds, you could contact them to see if they have a list of approved surveyors in South Petherton and Lambrook.
Barclays have agreed my mortgage in principle, my bid on a apartment in South Petherton and Lambrook has been agreed to, what are the next steps?
The property agent will need to know who your solicitors are (be sure the lawyers are on the lender’s approved list). Telephone Barclays or the financial adviser and finalise any appropriate paperwork. Barclays will instruct a valuer who will get in contact with the selling agent or vendor to schedule an appointment. Once carried out (assuming no problems) it takes on average ten days for the mortgage offer to be issued. Barclays will send the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in South Petherton and Lambrook.
How does conveyancing in South Petherton and Lambrook differ for newly converted properties?
Most buyers of new build or newly converted property in South Petherton and Lambrook contact us having been asked by the developer to exchange contracts and commit to the purchase even before the house is built. This is because new home sellers in South Petherton and Lambrook usually acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in South Petherton and Lambrook or who has acted in the same development.
I have been recommended by numerous selling agents in South Petherton and Lambrook to find a solicitor using your seach tool. Is there a financial upside for Estate Agents to market your site over another?
We refuse to make any commission for pointing buyers and sellers in our direction. We thought it would be too underhand a fee because a client could think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.