Last July we completed a house move in Headington. We have since encountered a number of problems with the house which we believe were missed in the conveyancing searches. What action can we take? Can you clarify the nature of searches that needed to have been conducted for conveyancing in Headington?
It is not clear from the question as to the nature of the problems and if they are relate to conveyancing in Headington. Conveyancing searches and investigations undertaken during the buying process are supposed to help avoid problems. As part of the process, the vendor fills in a document known as a SPIF. answers turns out to be inaccurate, 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 Headington.
Why is leasehold purchase conveyancing in Headington is more expensive?
In summary, leasehold conveyancing in Headington and elsewhere usually involve additional due diligence compared to freehold transactions. This includes lease investigation, communicating with the landlord about the service of required notices, procuring current 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 owners have owned the lease since it was first granted.
A colleague advised me that where I am buying in Headington I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually quoted for as part of the standard Headington conveyancing searches. It is not a small report of about 40 pages, listing and detailing important information about Headington around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Headington Housing Market, Council Tax Banding, the type 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 concerning Headington.
Just acquired a semi-detached house in Headington , What is the estimated time for the Land Registry to deal with the formalities evidencing my proprietorship? My Headington conveyancing solicitor works at snail pace, so I want to be sure the post completion formalities are concluded.
As far as conveyancing in Headington is concerned, registration is no faster or slower than anywhere else in England and Wales. As opposed to being determined by geographic area, timeframes can adjust subject to who lodges the application, whether there are errors and if the Land registry have to notify any other parties. As of today roughly three quarters of submission are fully dealt with in less than three weeks but occasionally there can be longer hold-ups. Registration occurs once the purchaser has moved in to the property so registration formalities is not always top priority yet if it is urgent that the the registration takes place urgently then you or your conveyancer must communicate with the Registry to express the reasoning for the application to be prioritised.
Last May I purchased a leasehold house in Headington. Do I have any liability for service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I purchased a 2 bed flat in Headington, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Headington with a long lease are worth £181,000. The ground rent is £55 charged once a year. The lease ends on 21st October 2075
You have 51 years unexpired we estimate the price of your lease extension to be between £30,400 and £35,200 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more 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 you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.