Last August we completed a house move in Newall Green. We have noticed several problems with the house which we suspect were missed in the conveyancing searches. Do we have any recourse? Can you clarify the nature of searches that needed to have been carried out as part of conveyancing in Newall Green?
It is not clear from the question as what problems have arisen and if they are unique to conveyancing in Newall Green. Conveyancing searches and investigations initiated during the legal transfer of property are designed to help avoid problems. As part of the process, a seller answers a form called a Seller’s Property Information Form. If the information proves to be 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 Newall Green.
I had a mortgage agreed in principle with Nationwide. Newall Green conveyancing practitioners have been instructed. What is the average time that one could expect to receive a mortgage offer from Nationwide?
Some lenders take longer than others. Have Nationwide done the valuation? Have you informed Nationwide as to your lawyers' details and checked that your lawyers are on the Nationwide conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
The formalities of my remortgage has taken place for my property in Newall Green. Conveyancing was a necessary evil but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
Most lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. Ordinarily complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I've digested plenty of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Newall Green solicitor - who is on the Clydesdale conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Clydesdale will need an independent valuation of the property. Your lawyer will not arrange this. Usually Clydesdale will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Newall Green surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I'm purchasing my first flat in Newall Green with a loan from Halifax. The developers would not reduce the amount so I negotiated five thousand pounds worth of additionals instead. The sale representative suggested that I not to tell my lawyer about the extras as it could put at risk my mortgage with Halifax. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one round the corner in Newall Green I like with a park and railway links in the vicinity, however it only has 61 years unexpired on the lease. I can't really find anything else in Newall Green 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 that many years may be a potential deal breaker. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of twenty four months you could ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
Should I go with a Newall Green conveyancing practitioner in close proximity to the house I am purchasing? I have an old university friend who can execute the legal work but his firm is located 400kilometers drive away.
The benefit of a high street Newall Green conveyancing practice is that you can drop in to execute documents, present your identification documents and apply pressure on them where appropriate. They will also have local knowledge which is a bonus. However nothing is more important than finding someone that will do a good and efficient job. If other friends have instructed your friend and on the whole were happy that should outweigh using an unknown Newall Green conveyancing solicitor just because they are based in the area.