Last February we completed a house move in New Inn. We have noticed several issues with the property which we believe were overlooked in the conveyancing searches. Do we have any recourse? Can you clarify the type of searches that needed to have been ordered for conveyancing in New Inn?
It is not clear from the question as to the nature of the problems and if they are unique to conveyancing in New Inn. Conveyancing searches and due diligence initiated during the buying process are supposed to help avoid problems. As part of the legal transfer of property, the vendor answers a document referred to as a SPIF. answers provided is misleading, 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 New Inn.
A relative pointed out to me me that in purchasing a property in New Inn there could be a number of restrictions limiting what one can do in terms of external changes to the property. Is this right?
There are anumerous of properties in New Inn which have some sort of restriction or requirement of consent to carry out external changes. Part of the conveyancing in New Inn should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
When it comes to lenders such as Nationwide, do New Inn conveyancers incur a fee to be on the conveyancing panel?
We are unaware of any mortgage company fees to be on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my New Inn bank branch on numerous occasions and was advised it wasn't a problem and they would lend. My New Inn conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
Provided that the solicitor is on the bank approved list, she or he must comply with the CML Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
My colleague suggested that if I am purchasing in New Inn I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes included in the estimate for your New Inn conveyancing searches. It is a large report of more than thirty pages, listing and setting out significant information about New Inn around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with maps and statistics, Local Amenities and other useful data regarding New Inn.
I am buying my first flat in New Inn with a mortgage from Aldermore. The sellers refused to budge the price so I negotiated £7000 of additionals instead. The house builders rep suggested that I not inform my conveyancer about the extras as it would adversely affect my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am looking for a conveyancing solicitor in New Inn for my sale. Is there any facility to check a solicitor's record with the legal regulator?
Members of the public can find documented Solicitor Regulator Association (SRA) decisions stemming from inquisitions started on or after Jan 2008. Visit Check a solicitor's record. For records Pre 2008, or to check a firm's record, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, use +44 (0)121 329 6800. The SRA may recorded call for training purposes.