Last November we completed a house move in Kings Heath. We have noticed several problems with the property which we suspect were missed in the conveyancing searches. What action can we take? What searches should? have been conducted for conveyancing in Kings Heath?
The question is vague as what problems have arisen and if they are unique to conveyancing in Kings Heath. Conveyancing searches and due diligence undertaken as part of the buying process are supposed to help avoid problems. As part of the legal transfer of property, a seller answers a questionnaire referred to as a SPIF. answers provided is inaccurate, 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 Kings Heath.
I had intended to instruct a conveyancing solicitor in Kings Heath for our house purchase. Our financial adviser has since advised us that our mortgage lenders Norwich and Peterborough Building Society won't deal with them. Surely this is unfair competition?
Pre- 2008 most lenders had a different appetite for risk. Almost all Kings Heath conveyancing firms would have been on most mortgage company panels. The Financial Services Authority in 2010 completed a thematic review into mortgage fraud which concluded: know the conveyancing solicitors dealt with. Consequently, mortgage companies are increasingly seeing more data from law firms about their operations and the individuals who work for them as well as set certain criteria such a completing on a minimum number of conveyancing. Many Kings Heath conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Kings Heath is amongst the thousands of areas where the lawyers showing on our search results are are authorised to act for Norwich and Peterborough Building Society.
This question may be naive but I am new to the home moving as FTB of a garden flat in Kings Heath. Do I pick up the keys to the premises on the completion date from my lawyer? If this is the case, I will instruct a High Street conveyancing solicitor in Kings Heath?
On the day of completion you do not need to attend the conveyancers office in Kings Heath. Your solicitors will arrange to send the purchase money to the owner’s conveyancers, and shortly after the monies have arrived, you should be called to collect the keys from the property Agents and move into your new home. This tends to happen between 1 and 3pm.
A friend advised me that in buying a property in Kings Heath there could be a number of restrictions preventing external alterations to a property. Is this right?
There are a number of properties in Kings Heath which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in Kings Heath should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Is it correct that all Kings Heath CQS (Conveyancing Quality Scheme) solicitors are on the HSBC conveyancing panel?
Some major lenders now make use of CQS as the starting point for Panel membership such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of conveyancing solicitors.
Due to the encouragement of my in-laws I had a survey completed on a property in Kings Heath ahead of appointing solicitors. I have been told that there is a flying freehold overhang to the property. The surveyor advised that some banks may not give a mortgage on a flying freehold home.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Birmingham Midshires. If you call us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Kings Heath. Conveyancing may be slightly more expensive based on your lender's requirements.
Are there frequently found defects that you come across in leases for Kings Heath properties?
Leasehold conveyancing in Kings Heath is not unique. All leases are drafted differently and drafting errors can sometimes mean that certain sections are not included. 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
You could have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Virgin Money, 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 problematic they may refuse to provide security, obliging the purchaser to withdraw.
I am the registered owner of a ground floor flat in Kings Heath, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Similar flats in Kings Heath with a long lease are worth £190,000. The ground rent is £65 yearly. The lease finishes on 21st October 2082
With just 61 years remaining on your lease we estimate the premium for your lease extension to span between £18,100 and £20,800 as well as professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more detailed investigations. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.