Should our lawyer be raising questions concerning flooding during the conveyancing in Anstey.

The risk of flooding is if increasing concern for lawyers dealing with homes in Anstey. Some people will acquire a house in Anstey, fully aware that at some time, it may be flooded. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.

Lawyers are not qualified to offer advice on flood risk, however there are a number of searches that may be initiated by the buyer or on a buyer’s behalf which should give them a better understanding of the risks in Anstey. The standard property information forms given to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard inquiry of the owner to determine whether the premises has suffered from flooding. In the event that the residence has been flooded in past and is not disclosed by the seller, then a buyer could bring a claim for damages as a result of such an inaccurate answer. The purchaser’s conveyancers should also carry out an environmental search. This should disclose whether there is any known flood risk. If so, more detailed investigations will need to be made.

How does conveyancing in Anstey differ for newly converted properties?

Most buyers of new build property in Anstey come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is ready to move into. This is because builders in Anstey tend to purchase 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 Anstey or who has acted in the same development.

Due to the encouragement of my in-laws I had a survey completed on a property in Anstey in advance of instructing solicitors. I have been informed that there is a flying freehold aspect to the house. The surveyor has said that some lenders may not grant a mortgage on such a premises.

It varies from the lender to lender. Santander has different requirements for example to Nationwide. Should you wish to telephone us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Anstey. Conveyancing will be smoother if you use a solicitor in Anstey especially if they are accustomed to such properties in Anstey.

In relation to leasehold conveyancing in Anstey what are the most frequent lease problems?

Leasehold conveyancing in Anstey is not unique. Most leases are drafted differently and drafting errors can result in certain sections are missing. The following missing provisions could result in a defective lease:

Maintenance charge proportions which don’t add up to the correct percentage A duty to insure the building

You may encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Coventry Building Society, and Alliance & Leicester all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to pull out.

Anstey Leasehold Conveyancing - A selection of Queries before Purchasing

Is there a share of the freehold? What is the the remaining lease term?

Myself and my fiance have just had an offer agreed on a flat and had meeting on Monday with the Post Office for the mortgage. They advised us that when it comes to appointing a conveyancing practitioner that unless they are on their approved list of solicitors then we will have to pay out an additional fee of £250+. This is is due to the fact that they would then have to instruct a conveyancer to act for them in addition to the one we select on our behalf and we will be on the hook for their fees. I have requested the Post Office to supply me with a list so I can seek estimates only from their approved solicitors but was told that I need to check with each individual conveyancer to see if they are on the panel. Is there a simple way of finding out who is on a lender panel?

You should ask the Post Office what their criteria for joining their panel is for a conveyancer.Thereafter ask the solicitor of your choice whether they meet the criteria and have they acted on loans for the Post Office previously. If the answer to those is yes, then just double check with the Post Office. Another option is to make use of our search facility and we may be able to identify a property lawyer in Anstey on the approved list for the Post Office.