I am considering applying for a Yorkshire BS mortgage for purchase of a new build (under development) in Bebington with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Yorkshire BS ?
In theory, you could use a solicitor that is not on the Yorkshire BS conveyancing panel, but Yorkshire BS would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
Should our conveyancer be asking questions regarding flooding during the conveyancing in Bebington.
Flooding is a growing risk for lawyers dealing with homes in Bebington. Some people will purchase a house in Bebington, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or sell the premises. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Conveyancers are not qualified to give advice on flood risk, however there are a number of checks that can be undertaken by the buyer or on a buyer’s behalf which should give them a better understanding of the risks in Bebington. The standard property information forms supplied to a buyer’s solicitor (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the vendor to find out if the premises has ever been flooded. If flooding has previously occurred and is not disclosed by the vendor, then a buyer could commence a claim for damages as a result of such an incorrect reply. A buyer’s conveyancers may also carry out an environmental search. This will indicate if there is any known flood risk. If so, additional inquiries should be conducted.
How does conveyancing in Bebington differ for new build properties?
Most buyers of new build premises in Bebington come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because new home sellers in Bebington usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Bebington or who has acted in the same development.
I am looking for a ground for flat up to £305k and found one near me in Bebington I like with a park and transport links in the vicinity, however it only has 52 years unexpired on the lease. I can't really find anything else in Bebington suitable, so just wondered if I would be making a mistake buying a short lease?
Should you need a mortgage the shortness of the lease may be an issue. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you may request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this.
How do I search for a Bebington law firm on the Norwich and Peterborough Building Society conveyancing panel? I am a keen cyclist and am happy to travel upto 10kilometers to meet the solicitor.
You can use the tool on this page. Please select a bank and your location and you will see a number of Bebington conveyancing lawyers based on proximity. We have detailed some Bebington conveyancing firms towards the end of this page and you can ring them to see whether they are on the Norwich and Peterborough Building Society panel
Can you offer any advice when it comes to finding a Bebington conveyancing firm to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Bebington conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We suggest that you speak with two or three firms including non Bebington conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be helpful:
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What are the costs for lease extension conveyancing?
Bebington Conveyancing for Leasehold Flats - Sample of Queries Prior to Purchasing
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What prohibitions exist in the Bebington Lease? Most Bebington leasehold flats will incur a service bill for maintenance of the block invoiced on behalf of the management company. If you purchase the apartment you will have to meet this amount, normally in instalments throughout the year. This can vary from a couple of hundred pounds to thousands of pounds for buildings with lifts and large communal areas. There will also be a ground rent for you to pay annual, ordinarily this is not a exorbitant amount, say approximately £50-£100 but you need to check as on occasion it could be surprisingly expensive. This question is helpful as a) areas could cause problems in the block as the communal areas may begin to deteriorate if maintenance remain unpaid b) if the leasehold owners have an issue with the running of the building you will want to have all the details