Last February we completed a house move in Upton Upon Severn. We have noticed several problems with the house which we believe were missed in the conveyancing searches. Is there anything we can do? What searches should? have been conducted as part of conveyancing in Upton Upon Severn?
The question is vague as to the nature of the problems and if they are specific to conveyancing in Upton Upon Severn. Conveyancing searches and due diligence undertaken as part of the buying process are supposed to help avoid problems. As part of the process, the vendor fills in a document referred to as a Seller’s Property Information Form. answers proves to be incorrect, 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 Upton Upon Severn.
In what way does my ID and proof of funds have anything to do with my conveyancing in Upton Upon Severn? Why is this being asked of me?
Upton Upon Severn conveyancing solicitors and indeed property lawyers accross the UK have an obligation under Anti-terror and anti-money-laundering rules to verify the ID of any client in order to ensure that clients are who they say they are.
Conveyancing clients will need to disclose two forms of certified ID; proof of ID (typically a Passport or Driving Licence) and proof of address (usually a Utility Bill no older than three months).
Evidence of source of funds is also required in compliance with the money laundering regulations as lawyers are duty bound to check that the funds you are using to purchase a property (be it the exchange deposit or the full purchase amount where you are buying without a mortgage) has originated from a reputable source (such as employment savings) and is not the fruits of criminal activity.
How does conveyancing in Upton Upon Severn differ for new build properties?
Most buyers of new build or newly converted property in Upton Upon Severn approach us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is constructed. This is because house builders in Upton Upon Severn typically acquire 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 Upton Upon Severn or who has acted in the same development.
I decided to have a survey completed on a house in Upton Upon Severn before instructing lawyers. I have been advised that there is a flying freehold overhang to the house. Our surveyor has said that some lenders may refuse to give a loan on such a house.
It depends who your proposed lender is. Lloyds has different instructions from Birmingham Midshires. Should you wish to call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Upton Upon Severn. Conveyancing will be smoother if you use a solicitor in Upton Upon Severn especially if they are accustomed to such properties in Upton Upon Severn.
My brother has recommend that I use his conveyancing solicitors in Upton Upon Severn. Should I use them?
There are no two ways about it it’s preferable to find a conveyancing practitioner is to get guidance from friends or family who have actually used the firm you're are thinking of instructing.
We are in the middle of purchasing a residence in Upton Upon Severn. Conveyancing solicitor has told us the property is "Leasehold". Does this impact the salability of the property?
Upton Upon Severn conveyancing does not normally involve leasehold houses. The key factor here is the length of lease and the ground rent. If it's 999 years with a nominal rent, it's essentially freehold, so it’s unlikely to affect the value significantly.
At the other end of the spectrum, if it's, say, Sixty years it will have a significant impact on the saleability, and most likely wouldn't be acceptable to the lender. The length of lease and ground rent will be specified in the lease which should be made available to your conveyancer.