It is is a decade since I acquired my house in Downton. Conveyancing solicitors have now been instructed on the sale but I am unable to locate the title deeds. Is this a problem?
You need not be too concerned. First the deeds may be with your mortgage company or they could still be with the solicitor who handled your purchase. Secondly in all probability the property will be recorded at the land registry and you will be able to prove you own the property by your conveyancing lawyers acquiring current official copies of the land registers. Nearly all conveyancing in Downton involves registered property but in the unlikely event that your property is not registered it adds to the complexity but is resolvable.
Should my solicitor be asking questions about flooding as part of the conveyancing in Downton.
Flooding is a growing risk for solicitors dealing with homes in Downton. There are those who purchase a property in Downton, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not qualified to offer advice on flood risk, however there are a number of searches that can be undertaken by the purchaser or by their solicitors which can give them a better appreciation of the risks in Downton. The standard property information forms given to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a standard inquiry of the vendor to discover whether the property has historically flooded. If flooding has previously occurred which is not revealed by the vendor, then a purchaser may issue a legal claim for losses stemming from an incorrect answer. The purchaser’s conveyancers will also order an enviro report. This should reveal if there is any known flood risk. If so, further inquiries will need to be made.
I am buying my first flat in Downton with the aid of help to buy. The sellers would not move on the price so I negotiated £7000 of fixtures and fittings instead. The property agent advised me not to tell my solicitor about the side-deal as it could adversely affect my loan with Yorkshire Building Society. Do I keep my lawyer in the dark?.
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.
Due to the input of my in-laws I had a survey completed on a house in Downton prior to appointing solicitors. I have been informed that there is a flying freehold overhang to the property. The surveyor advised that some banks may refuse to give a loan on this type of property.
It depends who your proposed lender is. HSBC has different instructions for example to Halifax. Should you wish to call us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Downton. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Downton to see if the conveyancing will be more expensive.
What does commercial conveyancing in Downton cover?
Downton conveyancing for business premises incorporates a broad range of advice, supplied by regulated solicitors, relating to business premises. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
We're novice buyers - had an offer accepted, but the selling agent has warned us that the seller will only proceed if we instruct the agent's preferred conveyancers as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a high street conveyancer with experience of conveyancing in Downton
It is improbable the vendors are driving this. If they require ‘a quick sale', turning down a genuine purchaser is is going to put the whole deal at risk. Bypass the agents and go straight to the owners and make the point that (a)you are keen to buy (b)you are ready to progress, with finances in place © you are unencumbered (d) you wish to move quickly (e)but you intend to instruct your own,trusted Downton conveyancing firm - not the ones that will provide their estate agent a introducer fee or achieve conveyancing targets demanded by head office.