The Underwood conveyancing solicitors that I recently instructed on my purchase in Underwood have suddenly shut down. I chose them because I needed a firm on the UBS conveyancing panel and my family Underwood lawyer was not. I gave my credit card details for them to take £195 for searches. What should be my next steps?
Assuming that you have an Estate Agent in the equation then let them know straight away so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the UBS 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 lawyers may be able to help.
My wife and I purchasing a victorian detached house in Underwood. Our aim is to an extension at the rear at the house.Will the conveyancing process involve checks to ascertain if these alterations are permitted?
Your conveyancer should check the registered title as conveyancing in Underwood will sometimes identify restrictions in the title documents which restrict certain works or need the permission of a 3rd party. Many extensions need local authority planning consent and approval in compliance with building regulations. Some locations are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. You should check these issues with a surveyor ahead of any purchase.
We are getting a further advance on our home loan from Aldermore as we want to conduct renovations to our house in Underwood. Are we obliged to appoint a local Underwood solicitor on the Aldermore conveyancing panel to handle the paperwork?
Aldermore don't usually appoint firms on their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Aldermore conveyancing panel.
I've read lots of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Underwood solicitor - who is on the Nottingham conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Nottingham will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nottingham 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 Underwood postcode. As you are getting a mortgage with Nottingham, you could contact them to see if they have a list of approved surveyors in Underwood.
It has been four months following my purchase conveyancing in Underwood completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Underwood differ for new build properties?
Most buyers of new build premises in Underwood approach us having been asked by the builder to exchange contracts and commit to the purchase even before the house is built. This is because developers in Underwood tend to 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 conveyancing solicitors 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 Underwood or who has acted in the same development.
When it comes to leasehold conveyancing in Underwood what are the most common lease problems?
There is nothing unique about leasehold conveyancing in Underwood. Most leases are individual and drafting errors can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:
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Service charge per centages that don't add up correctly leaving a shortfall Insurance obligations
A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Coventry Building Society, and TSB all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to pull out.
Leasehold Conveyancing in Underwood - Sample of Questions you should consider before buying
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The prefered form of lease structure is if the freehold reversion is owned by the leaseholders. In this situation the lessees have being in charge if their destiny and notwithstanding that a managing agent is usually retained if it is larger than a house conversion, the managing agent employed by the leaseholders. Are there any major works in the planning that will likely add a premium to the maintenance fees?
My folks cant seem to find their Underwood property on the HM Land Registry website. They recall that back in the 60’s when they bought the house there were complications concerning the post code not being identified on some systems.
Almost all premises in Underwood should appear. Have you tried a search with simply the postcode. Ordinarily it should disclose all the properties within the postcode. Where registered it will be there with a title number. If they bought 48 years ago it's conceivable it may be unregistered. The property could still be revealed but with the title number identified as 'na'. In this scenario you will need to find the original title papers which may be with your parent’s bank.