We're in Burwell, First timers purchasing with a mortgage (lender is Santander , and our lawyer is on the Santander conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Santander conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Should my conveyancer be raising enquiries regarding flooding during the conveyancing in Burwell.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Burwell. There are those who purchase a house in Burwell, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Lawyers are not best placed to give advice on flood risk, however there are a numerous searches that may be undertaken by the buyer or by their solicitors which will figure out the risks in Burwell. The standard property information forms sent to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard inquiry of the seller to find out whether the property has historically flooded. In the event that flooding has previously occurred which is not notified by the owner, then a purchaser may bring a claim for damages resulting from an inaccurate response. The purchaser’s lawyers should also carry out an enviro report. This will disclose whether there is any known flood risk. If so, further inquiries should be made.
I've recently found out that there is a flying freehold issue on a house I have offered on two weeks back in what was supposed to be a quick, no chain conveyancing. Burwell is the location of the property. Can you shed any light on this issue?
Flying freeholds in Burwell are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Burwell you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Burwell may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
We're FTB’s - agreed a price, yet the selling agent advised that the seller will only issue a contract if we use their chosen lawyers as they want a ‘quick sale’. Our preferred option is to instruct a local conveyancer with experience of conveyancing in Burwell
We suspect that the seller is unaware of this requirement. Should the vendor require ‘a quick sale', alienating a motivated buyer is going to damage their objectives. Bypass the agents and go straight to the owners and make the point that (a)you are keen to buy (b)you are excited to move forward, with finances in place © you are chain free (d) you wish to move quickly (e)however you will continue to instruct your preferred Burwell conveyancing lawyers - rather thanthe ones that will earn their estate agent a commission or achieve conveyancing figures demanded by senior management.
I own a leasehold house in Burwell. Conveyancing and Bank of Scotland mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Burwell who acted for me is not around. What should I do?
First contact the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Burwell conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Burwell Leasehold Conveyancing - Examples of Questions you should ask Prior to Purchasing
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How much is the ground rent and service charge? If a Burwell lease has less than eighty years it will affect 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 almost definitely require a lease extension at some point and you need to have some idea of what this would cost. For most Burwelllease extensions you will need to own the property for 24 months in order to be eligible to carry out a lease extension. How is the lease structured?
I have chosen a Burwell conveyancing solicitor for our house purchase (first time buyers) and have noticed in the terms and conditions that they are not governed by the Financial Conduct Authority. Am I right to be concerned or is that usually the case with conveyancer?
We can't see why they should be. Most property lawyer don't lend money. You should check that they are governed by the Solicitors Regulation Authority, who set stringent obligations covering funds sitting in their bank.