Will our conveyancer be raising questions about flooding during the conveyancing in Broadstone.
Flooding is a growing risk for lawyers specialising in conveyancing in Broadstone. There are those who buy a house in Broadstone, fully 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 obtain a mortgage, satisfactory building insurance, or dispose of the property. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Lawyers are not qualified to impart advice on flood risk, but there are a numerous checks that may be initiated by the buyer or on a buyer’s behalf which will figure out the risks in Broadstone. The conventional set of property information forms sent to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard question of the owner to find out if the property has suffered from flooding. If the property has been flooded in past which is not revealed by the vendor, then a purchaser could bring a legal claim for losses as a result of such an inaccurate response. A purchaser’s solicitors may also order an enviro search. This will indicate if there is a recorded flood risk. If so, more detailed investigations will need to be initiated.
Despite weeks of looking the Title Certificate and documents to our home are lost. The conveyancers who did the conveyancing in Broadstone 5 years ago have long since closed. What do I do?
You no longer need to have the physical official documentation to establish that you are the owner of your registered land or property, as the Land Registry hold details of all registered land or property electronically.
I am purchasing a new build house in Broadstone with a mortgage from Platform Home Loans Ltd. The builders refused to reduce the price so I negotiated 6k of additionals instead. The estate agent told me not inform my conveyancer about this side-deal as it will affect my mortgage with the bank. Is this normal?.
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 am looking for a flat up to £245,000 and identified one round the corner in Broadstone I like with open areas and railway links in the vicinity, however it only has 51 years on the lease. I can't really find anything else in Broadstone in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
If you need a mortgage the shortness of the lease will likely be problematic. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least twenty four months you may ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor regarding this.
I am thinking of appointing a conveyancing lawyer in Broadstone for my house move. Is it possible to check a solicitor's record with the profession’s regulator?
Anyone may review documented Solicitor Regulator Association (SRA) decisions arising from investigations from 2008 onwards. Go to Check a solicitor's record. To find records about the period before 1 January 2008, or to check a firm's record, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, call +44 (0)121 329 6800. The SRA could recorded telephone calls for training purposes.
My father-in-law mentioned that when choosing a conveyancing solicitors they need approved by your bank. I am first time buyer with but I have an offer in principle from Santander and I already have a high street conveyancing lawyer in Broadstone on standby. Can Virgin Money insist on an approved conveyancer to be instructed? If so, where do I find that list so I can choose a conveyancing solicitor in Broadstone?
You need to instruct a solicitor that is on the Virgin Money panel. Simply telephone your chosen Broadstone conveyancing lawyer to check if they are on the Virgin Money panel. If they are not approved you have a number of alternatives available to you here:
- Complete the purchase with your chosen Broadstone property lawyer but Virgin Money will no doubt retain a solicitor on their approved panel. The net result is additional charges and likely frustration.
- Choose a fresh property lawyer to act in the purchase, ensuring that they are on the Virgin Money conveyancing panel.
- Convince your conveyancing practitioner to pull out all the stops to get accepted on the Virgin Money panel of solicitors.