Last July we completed a house move in Stamford. We have noticed several problems with the house which we suspect were omitted in the conveyancing searches. What action can we take? Can you clarify the type of searches that needed to have been carried out as part of conveyancing in Stamford?

The question is vague as to the nature of the problems and if they are relate to conveyancing in Stamford. Conveyancing searches and investigations initiated as part of the buying process are supposed to help avoid problems. As part of the legal transfer of property, the vendor completes a document called a SPIF. answers provided is 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 Stamford.

I am the registered owner of a freehold property in Stamford but still invoiced for rent, why is this and what is this?

It’s unusual for properties in Stamford and has limited impact for conveyancing in Stamford but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.

Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.

This question may be naive but I am unseasoned as FTB of a ground floor flat in Stamford. Do I collect the keys to the property on completion from my lawyer? If this is the case, I will use a High Street conveyancing solicitor in Stamford?

There is no need to visit the lawyers office on the day of completion. Your solicitors will transfer the completion advance to the owner’s solicitors, and once they have received this, you will be called to receive the keys from the Estate Agents and move into your new home. Usually this happens early afternoon.

I have paid off my mortgage with Yorkshire BS. I assume I don't need a Stamford lawyer on the Yorkshire BS panel to discharge the mortgage at the Land Registry. Am I right?

If you have finished paying off your Yorkshire BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Yorkshire BS mortgage from the register. Yorkshire BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:

1. but are not moving to another property
2. where Yorkshire BS has sent the Land Registry the discharge electronically, and
3. Yorkshire BS has instructed the Land Registry to do so

Barclays have agreed my mortgage in principle, my bid on a property in Stamford has been agreed to, what happens next?

Your estate agent will wish to know who your solicitors are (ensure that the lawyers are on the lender’s panel). Call up Barclays or your financial adviser and finalise any outstanding documentation. Barclays will appoint a valuer who will get in contact with the estate agent or vendor to book an appointment. Once carried out (assuming no problems) it takes about a fortnight for the mortgage offer to be issued. Barclays will issue the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Stamford.

I've recently found out that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a simple, no chain conveyancing. Stamford is the location of the property. What do you suggest?

Flying freeholds in Stamford are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Stamford you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stamford may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.

Are there common deficiencies that you see in leases for Stamford properties?

There is nothing unique about leasehold conveyancing in Stamford. Most leases are individual and legal mistakes in the legal wording can result in certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:

A provision for the recovery of money spent for the benefit of another party. Repairing obligations to or maintain parts of the building

You will have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Virgin Money, and Barclays Direct all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to pull out.

Stamford Leasehold Conveyancing - Examples of Queries Prior to Purchasing

Best to be warned whether redecorating or some other significant cost is due shortly to be shared by the tenants and will materially impact the level of the service costs or require a specific invoice. What restrictions are contained in the Stamford Lease? The best form of lease structure is a share of the freehold. In this scenario the lessees benefit from being in charge if their destiny and although a managing agent is frequently employed if the building is bigger than a house conversion, the managing agent is directed by the tenants.