Much to our surprise we have been informed by our broker that my Street property lawyer is not on the lender Conveyancing panel. What can I do to be certain if this is indeed the case?
You need to contact your Street conveyancer. It is reasonable to expect your lawyer to notify you of the situation. If they are not on the panel they may be able to suggest a Street conveyancing firm that is on the approved list of lawyers for your mortgage company.
Last October we completed a house move in Street. We have noticed several problems with the house which we consider were missed in the conveyancing searches. What action can we take? Can you clarify the nature of searches that needed to have been carried out as part of conveyancing in Street?
It is not clear from the question as to the nature of the problems and if they are unique to conveyancing in Street. Conveyancing searches and due diligence undertaken as part of the legal transfer of property are designed to help avoid problems. As part of the process, a property owner answers a document called a Seller’s Property Information Form. answers proves to be misleading, you may have a misrepresentation 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 Street.
How does conveyancing in Street differ for new build properties?
Most buyers of new build or newly converted property in Street come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is built. This is because house builders in Street typically buy the land, 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 Street or who has acted in the same development.
How easy is it to transfer to a new solicitor as I have to select one who is on the Virgin Money conveyancing list. I had appointed a local conveyancing solicitor in Street round the corner but she is not accepted by Virgin Money
It would be our pleasure to assist you find a conveyancing solicitor in Street on the Virgin Money panel. Please note that the law firms that we work with do not pay us fee if you instruct them and are authorised and regulated by the SRA who regulate all conveyancing solicitors in Street. In utilising the find a conveyancing solicitor tool on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Street.
Can you provide any advice for leasehold conveyancing in Street from the perspective of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Street can be bypassed where you get in touch lawyers the minute you market your property and ask them to put together the leasehold documentation needed by the buyers’ solicitors. A minority of Street leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers. If you have the benefit of shareholding in the Management Company, you should make sure that you hold the original share document. Obtaining a re-issued share certificate can be a time consuming formality and frustrates many a Street home move. Where a duplicate share certificate is necessary, you should approach the company director and secretary or managing agents (where relevant) for this at the earliest opportunity. In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Street state that internal structural alterations or addition of wooden flooring calls for a licence issued by the Landlord approving such works. If you dont have the approvals to hand do not contact the landlord without contacting your conveyancer in advance.
Street Conveyancing for Leasehold Flats - Examples of Queries before buying
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Is the freehold owned collectively by the leaseholders? Many Street leasehold apartments will incur a service bill for maintenance of the building invoiced on behalf of the landlord. If you acquire the property you will have to pay this charge, normally in instalments during the year. This may vary from two or three hundred pounds to thousands of pounds for buildings with lifts and large communal areas. There will also be a rentcharge for you to pay yearly, normally this is not a exorbitant amount, say around £25-£75 but you need to enquire it because on occasion it could be surprisingly expensive. How many of the leaseholders are in arrears for their service charge payments?
I was informed by my lender that their approved lawyers operate no move no fee basis for conveyancing in Street. I had a purchase abort nevertheless the lawyers have requested search fees! They say the fees are seperate!
Street conveyancing search costs are separate expenses not solicitors fees as these are paid to independent parties.