Should our conveyancer be raising questions about flooding as part of the conveyancing in Bridgend.
Flooding is a growing risk for solicitors dealing with homes in Bridgend. There are those who acquire a house in Bridgend, completely aware that at some time, it may be flooded. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Solicitors are not qualified to offer advice on flood risk, but there are a various searches that can be initiated by the buyer or on a buyer’s behalf which can give them a better appreciation of the risks in Bridgend. The standard completed inquiry forms given to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard question of the seller to find out if the premises has historically flooded. In the event that flooding has previously occurred which is not notified by the seller, then a buyer may commence a claim for damages as a result of such an inaccurate answer. The purchaser’s solicitors may also order an enviro search. This should disclose whether there is any known flood risk. If so, additional investigations will need to be conducted.
Just acquired a detached house in Bridgend , What is the estimated time for the Land Registry to deal with the formalities evidencing the transfer to my name? My Bridgend conveyancing solicitor works at snail pace, so I want to be sure that my name is registered.
As far as conveyancing in Bridgend is concerned, registration is no faster or slower than the rest of the country. Rather than based on location, timeframes can differ depending on who lodges the application, whether there are errors and if the Land registry need to notify any interested parties. As of today roughly 80% of submission are fully addressed within 12 days but occasionally there can be longer hold-ups. Historically registration occurs once the buyer has moved in to the premises thus an expedited registration is not always an essential issue yet where there is a degree of urgency associated with the registration then you or your lawyers could communicate with the Registry to express the reasoning for an expedited registration.
I am purchasing a new build house in Bridgend with a loan from Leeds Building Society. The builders would not move on the price so I negotiated 6k of fixtures and fittings instead. The estate agent suggested that I not disclose to my lawyer about this side-deal as it may impact my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I decided to have a survey done on a house in Bridgend before appointing solicitors. I have been informed that there is a flying freehold element to the property. Our surveyor has said that some banks may refuse to give a loan on such a home.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Nationwide. If you e-mail us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Bridgend. Conveyancing may be slightly more expensive based on your lender's requirements.
I am thinking of appointing a conveyancing solicitor in Bridgend for my house move. Is there any facility to see a firm’s record with the legal regulator?
Anyone may see published Solicitor Regulator Association (SRA) determinations stemming from inquisitions from 2008 onwards. Go to Check a solicitor's record. For records about the period before 1 January 2008, or to check a solicitors record, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, use +44 (0)121 329 6800. The regulator sometimes recorded call for training reasons.
I am hoping to exchange soon on a leasehold property in Bridgend. Conveyancing solicitors inform me that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Bridgend should include some of the following:
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Rent payments - what is due and when you need to pay, and also know whether this is subject to change You should be told what is to be regarded as a Nuisance in the lease What options are available to the landlord where you breach a clause of your lease? Defining your rights in relation to common areas in the block.By way of example, does the lease provide for a right of way over a path or hallways?
Bridgend Conveyancing for Leasehold Flats - Sample of Queries before buying
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The best form of lease structure is if the freehold interest is owned by the leaseholders. In this arrangement the leaseholders enjoy control and even though a managing agent is often retained where the building is larger than a house conversion, the managing agent is directed by the tenants. Please note that where the lease has no more than eighty years it will impact the salability of the property. Check with your bank that they are willing to to proceed given the lease term. A short lease means that you will most likely have to extend the lease sooner rather than later and it is worth discovering what this would cost. For most Bridgendlease extensions you will need to own the property for 24 months in order to be eligible to carry out a lease extension. It is important to be aware if a new roof is being put on or some other significant cost is coming up that will be shared between the tenants and may well materially increase the the maintenance fees or result in a one time invoice.