My wife and I have just bought a house in Stocksfield. We have since encountered a number of issues with the house which we consider were omitted in the conveyancing searches. What action can we take? Can you clarify the nature of searches that should have been conducted as part of conveyancing in Stocksfield?
The query is not clear as to the nature of the problems and if they are unique to conveyancing in Stocksfield. Conveyancing searches and due diligence initiated during the buying process are supposed to help avoid problems. As part of the process, the vendor fills in a form referred to as a Seller’s Property Information Form. If the information is inaccurate, 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 Stocksfield.
We're in Stocksfield, First timers buying with a mortgage (lender is Nationwide , and our lawyer is on the Nationwide conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nationwide conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I just acquired a flat at auction in Stocksfield. Conveyancing is necessary. What is next?
Having legally committed yourself to purchase you must choose a conveyancing practitioner as a matter of priority as you now have a tight deadline in which to complete the conveyancing. An auction property will ordinarily have a corresponding auction set of papers. This will include the copy title deeds, local authority and drainage searches. In the case of leasehold property the conveyancing pack may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork pertinent to a leasehold property. You need to give this to your appointed conveyancing solicitor as soon as possible. Do make sure that your finances are in order to complete the transaction on the set completion date.
I happen to be the sole beneficiary of my late mum's estate and I have everything in my name alone, including the my former home in Stocksfield. The Stocksfield property was put into my name in March. I now wish to sell up. I do know about the CML 6 month 'rule', which means that my property ownership could be treated the same way as if I'd bought the house in March. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be caught by that. Most mortgage companies would take a sensible view as this clause is principally there to pick up on the purchase and immediately sell or the flipping of property.
I have today made my last payment due on my mortgage with UBS. I assume I don't need a Stocksfield solicitor on the UBS panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your UBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the UBS mortgage from the register. UBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where UBS has sent the Land Registry the discharge electronically, and
- UBS has instructed the Land Registry to do so
I need some expedited conveyancing in Stocksfield as I am faced with pressure to exchange contracts inside 3 weeks. A home loan is not required. Is it possible to escape the need for conveyancing searches to save fees and time?
As you are are a mortgage free buyer you have the choice not to have searches carried out although no law firm would suggest that you don't. Drawing on years of experience of conveyancing in Stocksfield the following are examples of what can crop up and adversely affect future saleability: Refused Planning Applications, Overdue Fees, Outstanding Grants, Road Schemes,...
Just had an offer accepted on a new build apartment in Stocksfield. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Stocksfield
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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. Forfeiture - bankruptcy or liquidation must not apply under this provision. Please confirm the Lease plans are architect prepared. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
I'm remortgaging a bungalow in Stocksfield. I can find my conveyancer's company on the CLC list, but I can't see my lawyer's name on the list. Is this a big problem?
Not every individual in the law firm must be listed by the regulator. Provided there is a manager qualified to 'oversee' the transaction, the actual day-to-day activity can be undertaken by unlicensed staff.