Should my conveyancer be raising enquiries regarding flooding during the conveyancing in Northam.
Flooding is a growing risk for solicitors dealing with homes in Northam. Some people will buy a property in Northam, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Lawyers are not best placed to impart advice on flood risk, but there are a number of checks that may be initiated by the purchaser or on a buyer’s behalf which should give them a better appreciation of the risks in Northam. The conventional set of property information forms supplied to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual inquiry of the vendor to find out whether the premises has ever been flooded. If the premises has been flooded in past and is not revealed by the seller, then a buyer may bring a legal claim for losses resulting from an inaccurate answer. A purchaser’s lawyers should also commission an enviro search. This will reveal if there is any known flood risk. If so, further inquiries should be conducted.
I am buying a new build house in Northam with a loan from Britannia. The builders would not budge the amount so I negotiated £7000 of extras instead. The house builders rep suggested that I not to tell my lawyer about the side-deal as it would put at risk my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I have been on the look out for a ground for flat up to £305k and identified one round the corner in Northam I like with a park and station in the vicinity, however it only has 52 remaining years left on the lease. I can't really find anything else in Northam for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term will be an issue. Discount the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of 2 years you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this.
I am looking to sell my property. My past conveyancers closed down. I would be grateful for any recommendation of a conveyancing firm. Im based in Northam if that makes things easier.
Please use our search tool to help you find a solicitor for your conveyancing in Northam. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
I need to retain a conveyancing solicitor for purchase conveyancing in Northam. I've chance upon a web site which looks to be the ideal offering If it is possible to get all the legals completed via email that would be ideal. Do I need to be concerned? What should out be looking out for?
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?
We expect to complete the sale of our £350,000 garden flat in Northam next week. The managing agents has quoted £372 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Northam?
Northam conveyancing on leasehold flats ordinarily necessitates fees being raised by freeholders :
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Completing conveyancing due diligence enquiries
Where consent is required before sale in Northam
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I inherited a garden flat in Northam, conveyancing having been completed July 1998. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Northam with an extended lease are worth £185,000. The average or mid-range amount of ground rent is £65 levied per year. The lease expires on 21st October 2085
You have 60 years left to run we estimate the premium for your lease extension to span between £20,000 and £23,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use the figures 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 take any other action placing reliance on this information without first getting professional advice.