I am in the process of mortgaging my house in Worthing, does my lawyer need to be on the Principality Conveyancing panel?
There is nothing to stop you using your solicitor, but Principality will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
Should our lawyer be making enquiries about flooding during the conveyancing in Worthing.
Flooding is a growing risk for solicitors conducting conveyancing in Worthing. There are those who buy a house in Worthing, fully aware that at some time, it may be flooded. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not best placed to give advice on flood risk, but there are a number of searches that may be carried out by the buyer or on a buyer’s behalf which should give them a better understanding of the risks in Worthing. The conventional set of completed inquiry forms supplied to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the vendor to find out if the premises has ever been flooded. In the event that the residence has been flooded in past and is not revealed by the owner, then a purchaser could issue a compensation claim stemming from an incorrect reply. A purchaser’s conveyancers may also carry out an enviro search. This will reveal whether there is a recorded flood risk. If so, more detailed investigations should be carried out.
How does conveyancing in Worthing differ for newly converted properties?
Most buyers of new build property in Worthing approach us having been asked by the developer to sign contracts and commit to the purchase even before the property is completed. This is because house builders in Worthing tend to buy 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 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 accustomed to new build conveyancing in Worthing 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 was supposed to be a quick, no chain conveyancing. Worthing is the location of the property. What do you suggest?
Flying freeholds in Worthing 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 Worthing you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Worthing 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 property.
We are 18 days into a freehold purchase having been referred to a firm by the local agent to perform conveyancing in Worthing. I am not happy. Could you you assist me in finding new conveyancers?
A conveyancer would have to be very bad in order to consider changing them. Has your mortgage offer been issued? If so you need to advise them of the new contact details and ensure the mortgage documents are re-issued. The solicitor ideally should be on the lenders approved list to avoid added expenses and delays. That should be your first question of the new conveyancers. The search tool can help you find a bank approved conveyancer for your home move in Worthing
I've found a house that seems to meet my requirements, at a reasonable figure which is making it more attractive. I have subsequently been informed that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Worthing. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?
The majority of houses in Worthing are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Worthing so you should seriously consider looking for a Worthing conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the property is part of an estate. Your solicitor will report to you on the legal implications.
I am the registered owner of a split level flat in Worthing, conveyancing was carried out in 1996. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Worthing with over 90 years remaining are worth £202,000. The ground rent is £60 per annum. The lease finishes on 21st October 2082
With 57 years unexpired the likely cost is going to range between £28,500 and £33,000 as well as costs.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.