What is the first thing I need to know concerning purchase conveyancing in Buckden?

You may not hear this from too many lawyers but conveyancing in Buckden and elsewhere in Cambridgeshire is often a confrontational process. In other words, when it comes to conveyancing there is plenty of room for confrontation between you and other parties involved in the ownership transfer. For example, the seller, selling agent and sometimes the bank. Appointing a lawyer for your conveyancing in Buckden is a critical decision as your conveyancer is your adviser, and is the SOLE party in the process whose role it is to protect your best interests and to protect you.

We are witnessing a worrying ongoing adversarial element to conveyancing- someone has to be at fault for the process taking so long. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.

Should my lawyer be raising questions concerning flooding as part of the conveyancing in Buckden.

Flooding is a growing risk for solicitors dealing with homes in Buckden. Some people will acquire a property in Buckden, fully expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.

Lawyers are not best placed to impart advice on flood risk, however there are a various checks that can be initiated by the purchaser or on a buyer’s behalf which can figure out the risks in Buckden. The conventional set of property information forms given to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual question of the owner to determine if the premises has suffered from flooding. If the premises has been flooded in past and is not notified by the owner, then a buyer could bring a claim for damages stemming from an incorrect response. A purchaser’s conveyancers may also order an enviro search. This will disclose whether there is a recorded flood risk. If so, additional inquiries will need to be initiated.

I'm converting the mortgage on my current house to a buy to let mortgage with Barclays and I will use the rest of the raised equity towards a second property. The location we are looking at is Buckden. Will your solicitors be able to act for the two lenders and link together the conveyances?

Do use our comparison tool on this site to be sure that the solicitors are on the relevant lender panels. Assuming that they are your solicitor should be able to connect the two deals but you should have a chat with you solicitor and specify your desired outcome and requirements.

When it comes to leasehold conveyancing in Buckden what are the most common lease defects?

Leasehold conveyancing in Buckden is not unique. Most leases are drafted differently and legal mistakes in the legal wording can sometimes mean that certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:

Clauses dealing with recovering service charges for expenditure on the building or common parts. A duty to insure the building

A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Coventry Building Society, and Alliance & Leicester all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to pull out.

Buckden Leasehold Conveyancing - Examples of Questions you should ask before buying

Who are the managing agents? Can you inform me if there are any major works in the planning that will likely increase the maintenance costs? The majority of Buckden leasehold apartments will have a service charge for maintenance of the building levied by the management company. Where you purchase the property you will have to meet this charge, usually periodically during the year. This could vary from a couple of hundred pounds to thousands of pounds for buildings with lifts and large communal grounds. In all probability there will be a ground rent to be met annual, this is usually not a large amount, say approximately £50-£100 but you need to enquire as on occasion it can be many hundreds of pounds.

What is the average legal costs for conveyancing in Buckden?

The average cost in 2014 for conveyancing in Buckden was just over one thousand four hundred and fifty pounds not including Land Tax and HM Land Registry fees.