Will my solicitor be making enquiries regarding flooding during the conveyancing in Desborough.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Desborough. Plenty of people will purchase a house in Desborough, completely aware that at some time, it may suffer from flooding. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Lawyers are not qualified to give advice on flood risk, however there are a numerous searches that can be initiated by the purchaser or by their solicitors which should give them a better appreciation of the risks in Desborough. The conventional set of information supplied to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual question of the vendor to find out if the property has suffered from flooding. In the event that the residence has been flooded in past which is not notified by the seller, then a purchaser may bring a claim for damages as a result of such an misleading reply. The purchaser’s solicitors may also order an enviro report. This will indicate if there is a recorded flood risk. If so, further inquiries will need to be initiated.
I have recentlybeen informed that Wolstenholmes have closed. They carried out my conveyancing in Desborough for a purchase of a leasehold flat 9 months ago. How can I be sure that my home is not still registered in the name of the previous owner?
The easiest method to check if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Desborough conveyancing specialists.
I am purchasing a new build house in Desborough with a mortgage from HSBC Bank. The sellers refused to budge the amount so I negotiated five thousand pounds worth of additionals instead. The estate agent suggested that I not reveal to my lawyer about the extras as it could affect my loan with the lender. Should I keep quiet?.
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.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what should have been a straight forward, chain free conveyancing. Desborough is where the house is located. Is there any guidance you can impart?
Flying freeholds in Desborough are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Desborough you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Desborough may determine 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 premises.
I was recommended by a few property agents in Desborough to locate a solicitor on your site. Is there a financial upside for Estate Agents to promote your services over another?
We don’t offer any referral fee for directing people our way. We found it would be just too difficult to pay a commission because members of the public would think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.