My partner and I have lately acquired a property in Hamworthy. We have noticed several issues with the house which we believe were missed in the conveyancing searches. Is there anything we can do? Can you clarify the type of searches that needed to have been conducted as part of conveyancing in Hamworthy?
It is not clear from the question as to the nature of the problems and if they are relate to conveyancing in Hamworthy. Conveyancing searches and investigations initiated during the buying process are carried out to help avoid problems. As part of the legal transfer of property, a seller fills in a questionnaire referred to as a SPIF. If the information is misleading, then you may have a claim against the owner 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 Hamworthy.
I have a terraced Victorian property in Hamworthy. Conveyancing lawyer represented me and Nottingham Building Society. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, the second leasehold under the exact same property. I'd like to know for sure, how can I find out??
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Hamworthy and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with the conveyancing practitioner who conducted the conveyancing.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what should have been a straight forward, no chain conveyancing. Hamworthy is where the house is located. Can you shed any light on this issue?
Flying freeholds in Hamworthy are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Hamworthy you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hamworthy may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am tempted by the attractive purchase price for a two flats in Hamworthy which have about 50 years unexpired on the leases. should I be concerned?
A lease is a right to use the property for a prescribed time frame. As a lease gets shorter the saleability of the lease deteriorates and it becomes more costly to extend the lease. This is why it is often a good idea to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this arena.
I am the registered owner of a split level flat in Hamworthy, conveyancing having been completed July 1998. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Hamworthy with an extended lease are worth £197,000. The ground rent is £55 invoiced every year. The lease terminates on 21st October 2074
With 55 years unexpired we estimate the price of your lease extension to range between £31,400 and £36,200 plus professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.
Been reading online that Hamworthy solicitors are more costly than licensed conveyancers in Hamworthy when it comes to buying a property. Am I better off using a conveyancer or a solicitor if I am buying for my home move in Hamworthy.
When it comes to conveyancing in Hamworthy the costs are unlikely to vary dramatically depending on whether the legal expert is a licenced conveyancer or solicitor.