I am in a contract race with another buyer for a property in Gloucester. What can be done to hasten the legal process?
Where the seller is applying pressure to sign contracts it is advisable to make sure that your conveyancer is familiar with the location as they will benefit local contacts and insight. It is possible that they would have conducted otherhouses in the same road. Therefore consider using a Gloucester conveyancing lawyer. Second, be sure that the lawyer is on the lender panel. It is estimated that 18% of Gloucester conveyancing deals are delayed or jeopardised after finding out that a purchaser’s solicitor was not on their mortgage lender’s list of approved solicitors. In many cases this discovery resulted in the home move being delayed by almost three weeks. It is said that this issue affects approximately one hundred thousand home sales every year. Many Gloucester conveyancing firms can not act for certain lenders so do check as early as possible.
Do the Building Society Association intend to launch a searchable register to list firms on the Melton Mowbray Building Society conveyancing panel for example in Gloucester?
We are not aware of any plans on the part of the BSA to develop such a register.
Will my solicitor be asking questions regarding flooding during the conveyancing in Gloucester.
The risk of flooding is if increasing concern for lawyers dealing with homes in Gloucester. There are those who acquire a house in Gloucester, completely expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, 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.
Lawyers are not best placed to give advice on flood risk, however there are a number of checks that can be carried out by the purchaser or by their lawyers which should give them a better appreciation of the risks in Gloucester. The standard information sent to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the vendor to find out whether the property has suffered from flooding. If the premises has been flooded in past which is not revealed by the seller, then a purchaser may bring a compensation claim stemming from an inaccurate response. A buyer’s lawyers should also order an enviro report. This should reveal if there is a recorded flood risk. If so, additional investigations should be conducted.
The deeds to my property can not be found. The conveyancers who handled the conveyancing in Gloucester 4 years ago have long since closed. Will I be able to sell the house?
You no longer need to hold title deeds to establish that you own the land or premises, as the Land Registry hold details of all registered land or property electronically.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a straight forward, no chain conveyancing. Gloucester is the location of the property. Is there any advice you can give?
Flying freeholds in Gloucester are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Gloucester 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 Gloucester may ascertain 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.
I'm converting the mortgage on my existing property to a BTL loan with Aldermore and I will use the ballance of the raised equity towards another house. The location we are talking about is Gloucester. Will your solicitors be able to act for both sets of banks and tie in the two deals?
Do use our comparison tool on this page to be sure that the conveyancers are on the relevant lender panels. On the basis that they are your conveyancer should be able to tie up the two transactions but you should have a chat with you conveyancer and communicate your desired outcome and requirements.