Last September we completed a house move in Aldermanbury. We have since encountered a number of problems with the house which we believe were missed in the conveyancing searches. What action can we take? What searches should? have been ordered as part of conveyancing in Aldermanbury?

It is not clear from the question as what problems have arisen and if they are specific to conveyancing in Aldermanbury. Conveyancing searches and investigations initiated as part of the legal transfer of property are supposed to help avoid problems. As part of the process, the vendor answers a form called a Seller’s Property Information Form. If the information proves to be misleading, 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 Aldermanbury.

How up to date is your search tool for Aldermanbury conveyancing solicitors on the Lloyds conveyancing panel? Do Lloyds send you an updated list?

Aldermanbury conveyancing firms themselves provide us confirmation that they are on the Lloyds conveyancing panel as opposed to being supplied with a list from Lloyds directly.

There are a variety of conveyancing solicitors in Aldermanbury but how do I know who I should use?

Do not opt for the lowest Aldermanbury conveyancing fees. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of the deal.

I am the single beneficiary of my late mum's will with all property in now in my sole name, including the my former home in Aldermanbury. Conveyancing formalities meant that the Land Registry date was in October. I plan to dispose of the house. I do know about the Mortgage Lenders 6 month 'rule', which means that my proprietorship could be regarded the same way as if I'd bought the property in October. Will no one buy the property for half a year?

The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be caught by that. How practical a view banks take of it, depend on the lender as this obligation chiefly exists to capture the purchase and immediately sell or the wholesaling and assigning of property.

Is it the case that all Aldermanbury solicitor practices on the Leeds Building Society conveyancing panel are regulated by the SRA?

As a firm of solicitors, in order to be on the Leeds Building Society approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. The majority of mortgage companies do list licenced conveyancers on their panel in which case such organisation would be overseen by the Council of Licensed Conveyancers.

I opted to have a survey completed on a property in Aldermanbury prior to instructing solicitors. I have been told that there is a flying freehold element to the house. Our surveyor advised that some mortgage companies tend refuse to issue a loan on a flying freehold premises.

It varies from the lender to lender. Lloyds has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Aldermanbury. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Aldermanbury to see if the conveyancing costs will increase in light of this.

After months of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Aldermanbury. Can we issue an application to the Residential Property Tribunal Service?

Absolutely. We are happy to put you in touch with a Aldermanbury conveyancing firm who can help.

An example of a Lease Extension case for a Aldermanbury premises is 137 & 139 Haberdasher Street in December 2013. The Tribunal determines in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease for each Property should be £12,350.00. This case affected 2 flats. The number of years remaining on the existing lease(s) was 72.39 years.

In relation to leasehold conveyancing in Aldermanbury what are the most common lease problems?

Leasehold conveyancing in Aldermanbury is not unique. Most leases are individual and drafting errors can result in certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:

Clauses dealing with recovering service charges for expenditure on the building or common parts. Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Virgin Money, and Alliance & Leicester 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 problematic they may refuse to provide security, forcing the purchaser to withdraw.