Why do I have to pay up front when it comes to conveyancing in Baldock?
Where you are retaining lawyers for conveyancing in Baldock your lawyer will request that you place them with funds to cover the search fees. This will be the total of the cost of the Local Authority Search. If any down payment is payable against the total price then this should be required shortly before contracts are exchanged. The closing balance that is due should be transferred shortly before completion.
This question may be naive but I am wet behind the ears as a 1st time buyer of a garden flat in Baldock. Do I pick up the keys to the premises on completion from my lawyer? If so, I will instruct a High Street conveyancing solicitor in Baldock?
On the day of completion you do not need to go to the conveyancers office in Baldock. Your solicitors will transfer the purchase money to the seller's lawyers, and once they have received this, you will be able to collect the keys from the Estate Agents and start moving into the property. This tends to happen early afternoon.
My uncle advised me that in purchasing a property in Baldock there may be various restrictions preventing external changes to the property. Is this right?
We are aware of a number of properties in Baldock which have some sort of restriction or requirement of consent to perform external alterations. Part of the conveyancing in Baldock should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have a mortgage with Kent Reliance for my property in Baldock. Conveyancing was finalised 12 months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Kent Reliance?
Your original mortgage agreement with Kent Reliance will provide that you need their approval prior to renting your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Kent Reliance directly. It should not be necessary to do this via a Kent Reliance conveyancing panel lawyer.
Will my solicitor be raising questions concerning flooding during the conveyancing in Baldock.
Flooding is a growing risk for solicitors carrying out conveyancing in Baldock. Some people will buy a property in Baldock, completely expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or dispose of the property. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Lawyers are not qualified to give advice on flood risk, but there are a numerous checks that may be undertaken by the buyer or on a buyer’s behalf which should figure out the risks in Baldock. The conventional set of information sent to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual question of the seller to discover whether the property has suffered from flooding. In the event that flooding has previously occurred which is not notified by the vendor, then a buyer could commence a legal claim for losses as a result of such an misleading response. A buyer’s solicitors may also commission an environmental search. This should reveal whether there is any known flood risk. If so, further inquiries should be made.
I own a 4 bedroom Edwardian house in Baldock. Conveyancing practitioner acted for me and Yorkshire Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, the second leasehold with the exact same address. I'd like to know for sure, how can I find out??
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Baldock and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the situation with the conveyancing lawyer who conducted the conveyancing.
My cousin has recommend that I use his conveyancing solicitors in Baldock. Should I use them?
There are no two ways about it it’s preferable to find a conveyancing lawyer is to seek referrals from friends or relatives who have actually experience in using the solicitor you're contemplating using.