My partner and I have lately purchased a house in Knightsbridge. We have noticed several problems with the property which we suspect were overlooked in the conveyancing searches. Is there anything we can do? Can you clarify the nature of searches that needed to have been ordered for conveyancing in Knightsbridge?
It is not clear from the question as what problems have arisen and if they are specific to conveyancing in Knightsbridge. Conveyancing searches and due diligence undertaken during the buying process are supposed to help avoid problems. As part of the process, the vendor fills in a form referred to as a Seller’s Property Information Form. answers proves to be inaccurate, you could possibly take legal action against the vendor 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 Knightsbridge.
At what point does exchange of contracts occur in domestic conveyancing in Knightsbridge and am I required to attend the conveyancers branch?
Where you are in close proximity to one of the conveyancing solicitors in Knightsbridge you are invited in to sign contracts. However, the law practices we work with provide countrywide coverage for conveyancing and provide just as comprehensive and professional a job for you when dealing with you by post or email. The executing of the contract is not the point of no return. A signed contract is necessary for the conveyancer to exchange contracts at the suitable time, which will usually be very shortly after signing. The exchange process is is usually a five minute process, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Knightsbridge)to be in the office available at the end of the phone to exchange contracts.
Various internet forums that I have visited warn that are the primary cause of obstruction in Knightsbridge house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not figure within the top 10 causes of hindrances in the conveyancing process. Searches are not likely to be the root cause of delay in conveyancing in Knightsbridge.
Due to the encouragement of my in-laws I had a survey completed on a house in Knightsbridge before retaining solicitors. I have been told that there is a flying freehold element to the house. Our surveyor advised that some lenders will refuse to give a loan on this type of premises.
It depends who your proposed lender is. Santander has different requirements for example to Nationwide. If you e-mail us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Knightsbridge. Conveyancing may be slightly more expensive based on your lender's requirements.
I'm remortgaging my existing property to a buy to let mortgage with Leeds Building Society and I will use the rest of the raised equity as a deposit on a second house. The location we are talking about is Knightsbridge. Will your conveyancers be able to act for the two banks and tie in the conveyances?
Do use our search tool on this site to ensure that the lawyers are approved by both mortgage companies. Assuming that they are the solicitor will be able to simultaneously deal with the two deals but you should talk with you lawyer and make clear your expectations and needs.