Should my solicitor be raising enquiries concerning flooding as part of the conveyancing in Mortimer.
The risk of flooding is if increasing concern for lawyers specialising in conveyancing in Mortimer. Some people will buy a house in Mortimer, fully aware that at some time, it may suffer from flooding. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not qualified to offer advice on flood risk, however there are a numerous searches that may be initiated by the buyer or on a buyer’s behalf which will give them a better understanding of the risks in Mortimer. The conventional set of property information forms supplied to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) includes a standard inquiry of the vendor to find out if the property has ever been flooded. If flooding has previously occurred and is not revealed by the seller, then a purchaser could bring a claim for damages as a result of such an inaccurate reply. The buyer’s conveyancers may also carry out an environmental report. This should reveal whether there is any known flood risk. If so, more detailed investigations should be made.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Mortimer?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Mortimer. 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…’
How does conveyancing in Mortimer differ for new build properties?
Most buyers of new build property in Mortimer approach us having been asked by the seller to exchange contracts and commit to the purchase even before the house is built. This is because builders in Mortimer tend to buy the site, 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 conveyancers 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 Mortimer or who has acted in the same development.
Over the last few months I have been searching for a flat up to £305k and found one near me in Mortimer I like with amenity areas and transport links in the vicinity, however it only has 52 remaining years left on the lease. There is not much else in Mortimer in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of twenty four months you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor about this.
I have recently realised that I have 68 years left on my lease in Mortimer. I now wish to extend my lease but my landlord is can not be found. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to prove that you or your lawyers have made all reasonable attempts to track down the freeholder. On the whole an enquiry agent would be useful to try and locate and prepare an expert document to be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s disappearance and the application to the County Court covering Mortimer.
Mortimer Leasehold Conveyancing - Sample of Queries before buying
-
Be sure to find out if the the lease includes any unreasonable restrictions in the lease. For instance some leases prohibit pets being permitted in certain buildings in Mortimer. If you like the flatin Mortimer however your dog is not allowed to live with you then you will be faced difficult choice. The best form of lease arrangement is where the freehold interest is in the ownership of the leaseholders. In this arrangement the leaseholders have being in charge if their destiny and notwithstanding that a managing agent is often employed if the building is larger than a house conversion, the managing agent is directed by the tenants. Is anyone aware of any major works anticipated that will likely add a premium to the service costs?
Do I have to have a meeting at the offices of the lender conveyancing panel solicitor to execute the legal charge? If so, I will instruct a firm who offer conveyancing in Mortimer as it will be easier to attend their offices if required.
Most conveyancing panel lawyers for the lender undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. YOu dont have to use a conveyancing solicitor in Mortimer. it would nevertheless be wise to check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.