My brother and I have lately acquired a property in Romford. We have noticed several issues with the property which we believe were missed in the conveyancing searches. Is there anything we can do? Can you clarify the nature of searches that should have been carried out for conveyancing in Romford?
The query is vague as to the nature of the problems and if they are specific to conveyancing in Romford. Conveyancing searches and investigations initiated as part of the buying process are carried out to help avoid problems. As part of the process, a property owner completes a form referred to as a SPIF. If the information ends up being incorrect, 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 Romford.
Is there a reason why leasehold purchase conveyancing in Romford is more expensive?
In summary, leasehold conveyancing in Romford and Essex usually involve extra work compared to freehold conveyancing. This includes checking the lease terms, corresponding with the landlord concerning serving applicable notices, procuring up-to-date service charge and management information, obtaining the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different proprietor have owned the lease since it was first entered into.
is it true that all Romford solicitor practices on the Barclays conveyancing panel are governed by the SRA?
As solicitors, in order to be on the Barclays approved list of solicitors they would need to be overseen by the SRA. The majority of banks do list licenced conveyancers on their panel and in that case the organisation would be regulated by the CLC.
We were going to get a AIP from Yorkshire BS this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Yorkshire BS recommend any Romford solicitors on the Yorkshire BS conveyancing panel, or is it better to go independently?
You will need to appoint Romford solicitors independently although you'll need to choose one on the Yorkshire BS conveyancing panel. The solicitor represents both you and Yorkshire BS through the process.
I have a mortgage with Kent Reliance for my property in Romford. Conveyancing was finalised months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Kent Reliance?
You must advise Kent Reliance prior to renting your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. It may be that Kent Reliance will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Kent Reliance directly. You need not do this via a Kent Reliance conveyancing panel solicitor.
I have been told that property searches are the primary cause of hinderance in Romford conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not feature within the common causes of hindrances during the legal transfer of property. Local searches are unlikely to be the root cause of holding up conveyancing in Romford.
I have todaybecome aware that Stirling Law have been shut down. They conducted my conveyancing in Romford for a purchase of a leasehold flat 10 months ago. How can I establish that my home is registered correctly in the name of the former proprietor?
The easiest method to check if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Romford conveyancing specialists.