Is there a reason why leasehold purchase conveyancing in Hatch and Old Basing is more expensive?

Hatch and Old Basing leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving relevant notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.

Will our lawyer be raising enquiries concerning flooding during the conveyancing in Hatch and Old Basing.

The risk of flooding is if increasing concern for solicitors dealing with homes in Hatch and Old Basing. There are those who purchase a house in Hatch and Old Basing, completely aware that at some time, it may be flooded. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.

Conveyancers are not qualified to impart advice on flood risk, however there are a numerous checks that may be initiated by the purchaser or by their solicitors which will give them a better understanding of the risks in Hatch and Old Basing. The conventional set of completed inquiry forms sent to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual question of the seller to discover if the premises has ever been flooded. If flooding has previously occurred and is not revealed by the owner, then a buyer may issue a claim for damages as a result of such an misleading response. A buyer’s conveyancers may also carry out an enviro report. This should disclose whether there is any known flood risk. If so, additional inquiries will need to be conducted.

I'm buying my first flat in Hatch and Old Basing with the aid of help to buy. The builders would not move on the amount so I negotiated five thousand pounds worth of additionals instead. The sale representative told me not inform my solicitor about this extras as it would impact my mortgage with the lender. Do I keep my lawyer in the dark?.

All lenders require a Disclosure of Incentives Form from the developer 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.

Due to the encouragement of my in-laws I had a survey completed on a house in Hatch and Old Basing ahead of retaining conveyancers. I have been informed that there is a flying freehold overhang to the house. Our surveyor advised that some lenders tend refuse to issue a loan on this type of premises.

It varies from the lender to lender. Bank of Scotland has different instructions from Nationwide. If you call us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Hatch and Old Basing. Conveyancing may be slightly more expensive based on your lender's requirements.

Looking forward to sign contracts shortly on a garden flat in Hatch and Old Basing. Conveyancing lawyers assured me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Hatch and Old Basing should include some of the following:

Ground rent - how much and when you need to pay, and also know whether this is subject to change Details of the parties to the lease, e.g. these could be the (you), head lessor, landlord Defining your legal entitlements in relation to the communal areas in the building.For example, does the lease include a right of way over an accessway or hallways? You should be advised what counts as a Nuisance as far as the lease is concerned Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?

Leasehold Conveyancing in Hatch and Old Basing - Sample of Questions you should ask Prior to buying

Are there any major works anticipated that will likely add a premium to the service fees? Does the lease contain onerous restrictions? How much is the ground rent and service charge?