Should our solicitor be making enquiries concerning flooding during the conveyancing in Addington.
The risk of flooding is if increasing concern for solicitors dealing with homes in Addington. Some people will acquire a house in Addington, completely aware that at some time, it may be flooded. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or sell the premises. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Conveyancers are not best placed to give advice on flood risk, but there are a number of searches that may be initiated by the purchaser or on a buyer’s behalf which can figure out the risks in Addington. The standard completed inquiry forms supplied to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard question of the vendor to discover whether the premises has suffered from flooding. In the event that the premises has been flooded in past which is not notified by the vendor, then a buyer may commence a legal claim for losses as a result of such an inaccurate reply. A purchaser’s solicitors will also conduct an environmental search. This will higlight if there is a recorded flood risk. If so, further inquiries will need to be carried out.
About to purchase a new build flat in Addington. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Addington
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Please supply a car parking plan. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Forfeiture - bankruptcy or liquidation must not apply under this provision. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one near me in Addington I like with a park and transport links nearby, however it only has 51 years unexpired on the lease. I can't really find anything else in Addington for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a home loan the shortness of the lease will likely be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least twenty four months you could ask them to 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 speak to your conveyancing solicitor regarding this matter.
I'm refinancing my primary house to a BTL mortgage with Norwich and Peterborough Building Society and I will use the ballance of the raised equity towards further property. The neighborhood we are talking about is Addington. Will your lawyers be able to act for both sets of lenders and link together the transactions?
Do use our comparison tool on this page to ensure that the lawyers are approved by both banks. Assuming that they are the conveyancer should be able to tie up the two transactions but you should have a chat with you conveyancer and make apparent your expectations and needs.
My step-father has recommend that I use his conveyancing solicitors in Addington. Do I follow his recommendation?
Much as we are happy to recommend a Addington conveyancing lawyer it’s preferable to find a conveyancing solicitor is to have recommendations from friends or family who have previously instructed the solicitor you're contemplating using.
My wife and I have AIP from Norwich and Peterborough Building Society who said that they will lend up to £350k. At what point do we need to appoint a lawyer for conveyancing? Addington is where we are buying.
It would be wise to instruct a lawyer now and ask them to generate a file on your behalf. This will facilitate: 1) the selling agent to issue a Sales Memorandum to all parties 2) the seller’s conveyancing practitioner to send out the draft contract. That being said, do not ask your property lawyer to order searches until you receive your valuation report via Norwich and Peterborough Building Society and you are happy to proceed.