Purchase of freehold home on Martinsend Lane, Great Missenden exchanged

Our Fridaysmove experts in conveyancing Great Missenden, acted on the purchase conveyancing for a freehold, for a home located at Martinsend Lane, in October 2009.  The value of the property was around £860, 000. 00 and Chiltern Council was the local authority on the property.

The Land Registry Office copies that were supplied, revealed that the registered owners had owned the property for less than five years and as such there was a danger that the transfer of the property to the seller could be set aside if it was established that the property within that five year period was a Transfer at Undervalue.

Office Copies that were obtained from the Land Registry revealed that the registered owners had owned the property for less than three months. The CML (Council of Mortgage Lenders) Handbook dictates that conveyancing solicitors have to reveal to the buyer's lender, in any situation where a property being purchased has been owned for less than six months.  This is due to valuation reasons. So, as such, we had to make specific enquiries on behalf of the lender.

The Land Registry documentation also revealed that the property was subject to restrictions/rights/covenants as set out in a conveyance dated 24th April 1925.  It was important that we checked with the registered owners conveyancing lawyer that these restrictions had been fully complied with.

Catherine Williams was the property lawyer in charge of conveyancing in Great Missenden.

The estate agent's sales memorandum, detailing the registered owners conveyancing lawyer, was obtained shortly before receiving the draft contract documentation.  The estate agent was  Jeremy Swan (branch covering Great Missenden).

The seller's conveyancing solicitor in Great Missenden was Chebsey and Co.