Last August we completed a house move in Markfield. We have since encountered a number of issues with the house which we consider were omitted in the conveyancing searches. Do we have any recourse? Can you clarify the type of searches that should have been conducted as part of conveyancing in Markfield?
It is not clear from the question as to the nature of the problems and if they are unique to conveyancing in Markfield. Conveyancing searches and investigations undertaken during the legal transfer of property are supposed to help avoid problems. As part of the legal transfer of property, a seller answers a document called 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 Markfield.
We're in Markfield, First time buyers purchasing with a mortgage (lender is Virgin Money , and our lawyer is on the Virgin Money conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Virgin Money conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
My solicitor has informed me that restrictive coveneant insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Markfield?
The right level of restrictive coveneant indemnity insurance depends on who your lender is. It would differ for example between Santander and The Royal Bank of Scotland. Conveyancing lawyers as opposed to borrowers take out such insurances.
We had chosen solicitors with offices in Markfield on the Yorkshire BS solicitor approved list. They are now charging me a further sum for handling the Yorkshire BS mortgage. Is this a supplemental conveyancing fee specified by Yorkshire BS?
As unfair as it may seem, as long as it’s in their Terms of Engagement or Quote then yes your lawyer is entitled to levy a fee for this. This fee is not set by Yorkshire BS but by your Markfield conveyancer. Numerous firms on the Yorkshire BS panel will quote an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
I have a mortgage with HSBC for my property in Markfield. Conveyancing was finalised a year 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 HSBC?
You must advise HSBC prior to letting out your property as this is likely to be a breach of HSBC’s mortgage conditions. In many cases banks or building societies 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 HSBC directly. It should not be necessary to do this via a HSBC conveyancing panel lawyer.
We are buying a house and the lawyer has identified Chancel Repair for which the property may be obligated to pay given it’s proximity to the area of such a church. He has recommended insurance. Is this really necessary for conveyancing in Markfield
Unless a prior acquisition of the property took place after 12 October 2013 you may assume that lawyers delivering conveyancing in Markfield to remain recommending a chancel search and or insurance against a claim.
What is different about your site and alternative internet conveyancing brokers for conveyancing in Markfield?
At this site get a conveyancing quote via a Solicitor or Licensed Conveyancer that has a full understanding of the issues for your conveyancing in Markfield. Unlike many estate agents and brokerage sites we are not in the business of charging firms a commission if you choose them for your home move in Markfield