Unfortunately I am unable to travel far from Sipson. Is there a reason why all Sipson conveyancers are not on all bank panels?
A decade ago most lenders had an approach to risk which is different from today. The FSA in 2010 carried out a thematic review into fraud which concluded: know the lawyers on your panel. As a result, mortgage companies have subsequently requiredmore data from law firms concerning their processes and the individuals employed by them and set certain criteria such as completing a minimum number of transactions. Thousands of law practices have found themselves removed from lender panels even though they had an exemplary disciplinary record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms were never going to satisfy the criteria of amount of transactions the lenders set.
My partner and I have just bought a property in Sipson. We have noticed several issues with the property which we consider were overlooked in the conveyancing searches. Do we have any recourse? What searches should? have been conducted for conveyancing in Sipson?
It is not clear from the question as to the nature of the problems and if they are relate to conveyancing in Sipson. Conveyancing searches and investigations initiated during the legal transfer of property are supposed to help avoid problems. As part of the process, a property owner fills in a form called a SPIF. If the information is inaccurate, you may have a misrepresentation claim against the vendor 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 Sipson.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Sipson?
There are many recorded licenced Conveyancers in Sipson and Solicitor partnerships in Sipson who can help with your conveyancing We would stress that the two are supervised by regulatory bodies with both specialising in the legal work in the home buying process. Both can deal with associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
I am buying a property in Sipson. One unusual aspect is that the roof has a solar panel. Santander have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Santander your lawyer must check the conveyancing instructions set out in Section 2 of UK Finance Lenders’ Handbook for Santander. The CML Handbook stipulates minimum provisions for solar panel roof-space leases, and property lawyers are required to report to Santander where a lease does not meet these provisions. The specifications relate to the installation of panels on properties nationwide and is not restricted to Sipson.
I have decided to exercise my right to buy my property in Sipson off the council. I have a mortgage agreed with Virgin Money. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Virgin Money, you will need to appoint a solicitor on the Virgin Money conveyancing panel.
Are there restrictive covenants that are commonly identified as part of conveyancing in Sipson?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Sipson. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Over the last few months I have been searching for a ground for flat up to £245,000 and found one close by in Sipson I like with a park and railway links nearby, the downside is that it's only got 49 years on the lease. There is not much else in Sipson for this price, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a home loan the remaining unexpired lease term will be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of 2 years you may ask them to commence the lease extension formalities and then assign 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 lawyer about this.