I am buying a new build flat in Hamworthy. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Hamworthy you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Hamworthy.
Forgive me if this question is silly but I am new to the house moving as FTB of a garden flat in Hamworthy. Do I collect the keys to the property on the completion date from my lawyer? If this is the case, I will use a High Street conveyancing solicitor in Hamworthy?
On the day of completion you will not be required to attend the conveyancers office in Hamworthy. Conveyancing lawyers for you will electronically transfer the purchase money to the owner’s solicitors, and shortly after the monies have arrived, you should be invited to receive the keys from the property Agents and start moving into the property. This tends to happen between 1 and 3pm.
Can I be sure that the Hamworthy conveyancing solicitor on the Skipton panel is any good?
When it comes to conveyancing in Hamworthy getting recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advise that you speak with the solicitor carrying out your conveyancing.
I am due to exchange contracts on my apartment. I had a double glazing fitted in June 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Bank of Ireland are being problematic. The Hamworthy solicitor who is on the Bank of Ireland conveyancing panel is saying indemnity insurance will be fine but Bank of Ireland are requiring a building regulation certificate. Why do Bank of Ireland have a conveyancing panel if they don't accept advice from them?
It is probably the case that Bank of Ireland have referred the matter to their valuer. The reason why Bank of Ireland may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Will my lawyer be raising enquiries regarding flooding as part of the conveyancing in Hamworthy.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Hamworthy. There are those who buy a property in Hamworthy, fully aware that at some time, it may be flooded. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Solicitors are not best placed to offer advice on flood risk, but there are a numerous checks that can be carried out by the buyer or by their solicitors which can give them a better appreciation of the risks in Hamworthy. The standard information given to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the vendor to find out whether the premises has ever been flooded. If the residence has been flooded in past and is not notified by the owner, then a buyer could bring a legal claim for losses as a result of such an incorrect answer. A purchaser’s solicitors should also conduct an enviro report. This will higlight whether there is a recorded flood risk. If so, additional inquiries will need to be made.
I've recently found out that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a quick, chain free conveyancing. Hamworthy is where the house is located. Is there any advice you can give?
Flying freeholds in Hamworthy are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Hamworthy you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hamworthy 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 premises.
I am looking at a couple of maisonettes in Hamworthy which have approximately fifty years remaining on the lease term. should I be concerned?
There are plenty of short leases in Hamworthy. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the value of the lease reduces and it becomes more costly to extend the lease. For this reason it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a difficult process. We advise that you seek professional help from a solicitor and surveyor with experience in this arena.
I inherited a garden flat in Hamworthy, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Hamworthy with over 90 years remaining are worth £222,000. The average or mid-range amount of ground rent is £50 levied per year. The lease finishes on 21st October 2095
With just 70 years left to run we estimate the premium for your lease extension to range between £9,500 and £11,000 as well as costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.
What is the distinction between surveying and conveyancing in Hamworthy?
Conveyancing - in Hamworthy or elsewhere - is the legal term given to transferring legal title of property from one person to another. It therefore includes the checking of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you’re intending to buy and will help you discover the condition of the building and, if there are problems, give you leverage for negotiating the buying price down or asking the seller to remedy the problems prior to you move in.