Last November we completed a house move in Merton. We have since encountered a number of problems with the house which we suspect were missed in the conveyancing searches. Do we have any recourse? What searches should? have been conducted for conveyancing in Merton?
The question is not clear as what problems have arisen and if they are unique to conveyancing in Merton. Conveyancing searches and due diligence undertaken during the legal transfer of property are supposed to help avoid problems. As part of the legal transfer of property, the vendor completes a questionnaire known as a Seller’s Property Information Form. answers proves to be incorrect, you may have a misrepresentation claim against the owner 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 Merton.
I require expedited conveyancing in Merton as I am under an ultimatum to exchange contracts within one month. A home loan is not required. Can I avoid the conveyancing searches to save fees and time?
If.Given you are are a mortgage free purchaser you have the choice not to have searches carried out although no solicitor would suggest that you don't. Drawing on our experience of conveyancing in Merton the following are instances of issues that can crop up and therefore impact future saleability: Refused Planning Applications, Overdue Fees, Overdue Grants, Unadopted Roads,...
Just bought a semi-detached house in Merton , how long should it take for the Land Registry to record the transfer to my name? My Merton conveyancing solicitor works at snail pace, so I want to check the post completion formalities are dealt with.
As far as conveyancing in Merton is concerned, registration is no quicker or slower than anywhere else in England and Wales. Rather than based on location, timescales can adjust according to who lodges the application, whether there are errors and whether the Land registry communicate with any 3rd parties. As of today roughly three quarters of submission are fully dealt with in less than three weeks but some can be subject to extensive delays. Historically registration occurs once the purchaser has moved in to the property therefore post completion formalities is not usually primary concern yet where it is urgent that the the registration takes place urgently then you or your conveyancer can communicate with the Registry to express the reasoning for an expedited registration.
Over the last few months I have been searching for a flat up to £235,500 and identified one round the corner in Merton I like with a park and railway links nearby, however it only has 61 years on the lease. I can't really find anything else in Merton for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a home loan the remaining unexpired lease term may be a potential deal breaker. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of 2 years you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor regarding this.
I own a leasehold flat in Merton. Conveyancing was finished in 2009. I have heard that I mustn’t allow the lease length fall too short. What is the reasoning?
Merton leasehold properties are for a fixed period - usually 99 years when they started. However a significant flats in Merton were constructed or converted 20 or more years ago and so these leases now have less than 80 years remaining. This may seem like a long time however Banks, Building Societies and other mortgage lenders generally need leases to have at least seventy five years unexpired to be mortgageable. Accordingly when you come to sell the property you will need a lease extension if you are approaching eighty years. To increase your property value you should be considering whether to extend your lease long before you come to sell it. Furthermore advantages to doing so before the lease hits 80 years as when the lease falls below eighty years the premium you have to pay to extend starts to escalate.