I require conveyancing for a flat in a relatively new development (five years built) in Castelnau. The vast majority the properties are already sold. Is it really necessary to order neighbourhood searches for my conveyancing in Castelnau?
Where you are obtaining a mortgage, your mortgage company will need some (many) of the searches so you'll have no choice. If not, then Castelnau conveyancing searches are optional. Your solicitor, will ’encourage’, perhaps strongly, that you should not go ahead without searches, but he or she is duty bound in this regard. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you insist that your lawyer to proceed without searches then your lawyer will have to follow your instructions or it may be necessary to instruct a new lawyer for your conveyancing in Castelnau.
Can you explain why leasehold purchase conveyancing in Castelnau costs more?
In short, leasehold conveyancing in Castelnau and elsewhere usually requires additional work compared to freehold transactions. This includes checking the lease terms, liaising with the landlord about serving required notices, procuring current service charge and management information, securing the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different proprietor have owned the lease since it was first granted.
I just bought a flat at auction in Castelnau. Conveyancing is necessary. What happens now?
Now that you are for all intents and purposes signed on the dotted line you should instruct a conveyancing practitioner quickly as you now have a tight deadline in which to complete the transaction. An auction property should have a bespoke legal pack. This will likely include evidence of title and search results. If you have purchased leasehold property the conveyancing pack should contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation relating to a leasehold property. You need to pass this on to the lawyer instructed by you as soon as possible. You also need to ensure that your finances are in order to complete the transaction on the set completion date.
Forgive me if this question is silly but I am wet behind the ears as FTB of a ground floor flat in Castelnau. Do I receive the keys to the property on the completion date from my conveyancer? If this is the case, I will use a local conveyancing solicitor in Castelnau?
There is no need to visit the lawyers office on the day of completion. Your solicitors will arrange to send the completion advance to the seller's conveyancers, and shortly after the monies have arrived, you will be invited to collect the keys from the Estate Agents and move into your new home. This tends to happen between 1 and 3pm.
I currently have a mortgage with HSBC for my property in Castelnau. Conveyancing was finalised some time ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform HSBC?
You must advise HSBC before renting your property as this is likely to be a breach of HSBC’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact HSBC directly. It should not be necessary to do this via a HSBC conveyancing panel solicitor.
Will my solicitor be raising enquiries regarding flooding during the conveyancing in Castelnau.
The risk of flooding is if increasing concern for lawyers carrying out conveyancing in Castelnau. Some people will buy a property in Castelnau, 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, satisfactory building insurance, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not best placed to impart advice on flood risk, however there are a various checks that can be carried out by the purchaser or by their lawyers which can give them a better appreciation of the risks in Castelnau. The standard property information forms given to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual question of the seller to find out if the property has ever been flooded. In the event that flooding has previously occurred which is not notified by the seller, then a buyer may bring a claim for damages resulting from an inaccurate reply. A buyer’s solicitors may also conduct an enviro search. This should higlight whether there is any known flood risk. If so, more detailed investigations will need to be carried out.
I'm buying a new build house in Castelnau with the aid of help to buy. The sellers refused to move on the price so I negotiated £7000 of extras instead. The house builders rep told me not reveal to my conveyancer about this deal as it would impact my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what should have been a quick, chain free conveyancing. Castelnau is the location of the property. Is there any advice you can give?
Flying freeholds in Castelnau are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Castelnau you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Castelnau may determine 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 residence.