Our Histon solicitor has spotted a discrepancy between the assumptions in the home valuation survey and what is in the legal papers for the property. My lawyer has advised that he is obliged to check that the lender is happy with this discrepancy and is content to go ahead. Is my solicitor’s approach appropriate?
Your lawyer must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Will my conveyancer be raising questions concerning flooding as part of the conveyancing in Histon.
Flooding is a growing risk for lawyers conducting conveyancing in Histon. There are those who acquire a house in Histon, completely aware that at some time, it may suffer from flooding. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or dispose of the premises. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Solicitors are not best placed to impart advice on flood risk, however there are a various searches that may be carried out by the purchaser or by their lawyers which can figure out the risks in Histon. The standard information supplied to a buyer’s lawyer (where the Conveyancing Protocol is adopted) contains a standard inquiry of the vendor to discover if the premises has suffered from flooding. If flooding has previously occurred and is not disclosed by the owner, then a purchaser could commence a legal claim for losses as a result of such an incorrect answer. A purchaser’s conveyancers will also carry out an enviro report. This should disclose whether there is a recorded flood risk. If so, further inquiries will need to be made.
How does conveyancing in Histon differ for newly converted properties?
Most buyers of new build residence in Histon come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is completed. This is because new home sellers in Histon usually acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Histon or who has acted in the same development.
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 straight forward, chain free conveyancing. Histon is the location of the property. What do you suggest?
Flying freeholds in Histon 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 Histon you must be sure that your lawyer goes 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 Histon 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 property.
I need to find a conveyancing solicitor for some conveyancing in Histon. I've discover a site which appears to be the ideal solution If there is a chance to get all the legals completed via phone that would be ideal. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I own a leasehold house in Histon. Conveyancing and Godiva Mortgages Ltd mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Histon who acted for me is not around. What should I do?
First make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Histon conveyancing firm to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Histon Leasehold Conveyancing - A selection of Queries Prior to Purchasing
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It is important to be aware whether window replacement or some other significant cost is due shortly that will be shared amongst the leaseholders and could well materially impact the level of the maintenance costs or necessitate a specific invoice. Who takes responsibility for maintaining and repairing the block? Be sure to investigate if there are any onerous restrictions in the lease. For instance plenty of leases prohibit pets being allowed in certain buildings in Histon. If you like the flatin Histon yet your dog can’t live with you then you have a very difficult compromise.