My wife and I have recently appointed a conveyancing solicitor in Farnham Common. I I would like to check if they are on the The Mortgage Works approved list of lawyers. Could you assist?
You should call the conveyancer and ask them whether they can act for the lender. Alternatively you should get in touch with The Mortgage Works who may be able to help.
Should our lawyer be making enquiries regarding flooding as part of the conveyancing in Farnham Common.
Flooding is a growing risk for conveyancers dealing with homes in Farnham Common. Some people will purchase a property in Farnham Common, fully expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or sell the property. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Solicitors are not best placed to give 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 Farnham Common. The standard property information forms supplied to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) includes a usual question of the seller to determine if the premises has historically flooded. If flooding has previously occurred which is not revealed by the seller, then a buyer could issue a legal claim for losses as a result of such an incorrect reply. The buyer’s solicitors may also commission an environmental report. This will disclose if there is a recorded flood risk. If so, additional investigations should be made.
How does conveyancing in Farnham Common differ for new build properties?
Most buyers of new build premises in Farnham Common come to us having been asked by the builder to sign contracts and commit to the purchase even before the house is finished. This is because new home sellers in Farnham Common usually buy the site, 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 used to new build conveyancing in Farnham Common or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I have offered on last month in what should have been a simple, chain free conveyancing. Farnham Common is the location of the property. Can you offer any opinion?
Flying freeholds in Farnham Common are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Farnham Common you would need to get your solicitor to go 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 Farnham Common may decide 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 property.
Me and my fiance are soon to complete buying a house in Farnham Common but as a consequence of damage from the recent storms I have negotiated compensation from the seller of £2k in the form of a adjustment in the price. I had intended this to be dealt with as part of the conveyancing process however my mortgage company will not agree to this. Should they have been approached?
The conveyancing practitioner listed on the lender approved list is obliged to disclose to the bank of any variations to the sale amount. In the event that you were to refuse your solicitor to notify the reduction to your lender then they would need to disinstructing themselves from representing you and the lender.