Can your site be used to recommend a Conveyancing solicitor in Huntingdon even if I’m not purchasing or disposing of a house, for instance if I wish to buy a shop in Huntingdon with a loan from Bank of Ireland?
Our search tool is mainly there to help choose domestic conveyancing solicitors in Huntingdon but we have listed towards the end of this page some Huntingdon commercial conveyancing firms. You should speak with the solicitors directly to check if they can also act for Bank of Ireland
Should my solicitor be asking questions regarding flooding as part of the conveyancing in Huntingdon.
Flooding is a growing risk for lawyers dealing with homes in Huntingdon. There are those who buy a house in Huntingdon, 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, satisfactory building insurance, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Solicitors are not qualified to offer advice on flood risk, but there are a various checks that can be carried out by the purchaser or on a buyer’s behalf which should figure out the risks in Huntingdon. The conventional set of information supplied to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual inquiry of the owner to find out whether the premises has ever been flooded. In the event that the residence has been flooded in past which is not revealed by the vendor, then a purchaser could bring a legal claim for losses stemming from an incorrect answer. A purchaser’s solicitors should also order an environmental report. This should disclose whether there is any known flood risk. If so, further investigations should be conducted.
Are there restrictive covenants that are commonly identified during conveyancing in Huntingdon?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Huntingdon. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I was pointed in your direction by a number of property agents in Huntingdon to choose a property lawyer using your seach tool. Is there a financial incentive for Estate Agents to recommend your site over and above another?
We don’t make any commission for pointing buyers and sellers our way. We found it would be just too difficult to pay a commission because a client could think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.
I am tempted by the attractive purchase price for a two apartments in Huntingdon which have approximately fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Huntingdon. The lease is a legal document that entitles you to use the property for a period of time. As a lease gets shorter the saleability of the lease reduces and it becomes more costly to acquire a lease extension. For this reason it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a difficult process. We advise that you get professional help from a solicitor and surveyor with experience in this arena.
Huntingdon Leasehold Conveyancing - Examples of Queries Prior to Purchasing
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The majority of Huntingdon leasehold properties will be liable to pay a service charge for maintenance of the building invoiced by the freeholder. Where you acquire the flat you will have to meet this contribution, usually in instalments during the year. This may be anything from a couple of hundred pounds to thousands of pounds for bigger purpose-built buildings. In all probability there will be a ground rent to be met annual, ordinarily this is not a large figure, say approximately £25-£75 but you need to check it because on occasion it can be many hundreds of pounds. It is important to be aware whether redecorating or some other significant cost is anticipated to be shared between the tenants and will materially impact the level of the service fees or require a one time payment. In the main the outlay for major works are not incorporated into the service charges, although there some managing agents in Huntingdon obliged leaseholders to pay into a sinking fund and this is used to offset against larger repairs or maintenance.
Much to my surprise my lawyer in Huntingdon has requested from me identification documents asserting that this is part of his requirements as a solicitor on the bank Solicitor panel. Can this be correct?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offence if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage, your lawyer also has to check ID documents to satisfy the lender. This is not specific to conveyancing in Huntingdon