It is is a decade since I purchased my property in Gerrards Cross and Chalfont. Conveyancing lawyers have just been retained on the sale but I am unable to locate the deeds. Is this a major issue?
You need not be too concerned. First there is a possibility that the deeds will be with your lender or they may be in the possession of the conveyancers who handled your purchase. Secondly in all probability the land will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors obtaining current official copies of the land registers. Most conveyancing in Gerrards Cross and Chalfont relates to registered property but in the unlikely event that your home is unregistered it is more tricky but is resolvable.
My husband and I are purchasing a purpose built flat in Gerrards Cross and Chalfont with a mortgage from TSB.We like our Gerrards Cross and Chalfont conveyancing lawyer but TSB says he's not listed on their approved list of firms. It seems we are left with no choice but to instruct a TSB panel solicitor or retain our preferred solicitor and pay for a TSB panel lawyer to represent them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The home loan offered to you is subject to its various provisions, a common one being that solicitors needs to be on the TSB conveyancing panel. Until recently, most banks had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for TSB
Should our conveyancer be raising questions concerning flooding as part of the conveyancing in Gerrards Cross and Chalfont.
The risk of flooding is if increasing concern for lawyers carrying out conveyancing in Gerrards Cross and Chalfont. There are those who purchase a house in Gerrards Cross and Chalfont, fully expectant that at some time, it may be flooded. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or dispose of the premises. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Conveyancers are not qualified to offer advice on flood risk, but there are a number of checks that may be carried out by the buyer or on a buyer’s behalf which should give them a better appreciation of the risks in Gerrards Cross and Chalfont. The conventional set of property information forms sent to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual question of the vendor to discover whether the property has suffered from flooding. In the event that the property has been flooded in past and is not notified by the owner, then a buyer may commence a legal claim for losses resulting from an inaccurate response. The purchaser’s lawyers should also order an enviro report. This should higlight if there is any known flood risk. If so, more detailed inquiries will need to be carried out.
How does conveyancing in Gerrards Cross and Chalfont differ for new build properties?
Most buyers of new build property in Gerrards Cross and Chalfont approach us having been asked by the developer to sign contracts and commit to the purchase even before the property is built. This is because house builders in Gerrards Cross and Chalfont usually acquire 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 property lawyers 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 Gerrards Cross and Chalfont or who has acted in the same development.
We are in the middle of buying a residence in Gerrards Cross and Chalfont. Conveyancing solicitor has phoned to say the property is "Leasehold". Will this likely make a difference on the salability of the property?
Gerrards Cross and Chalfont conveyancing does not normally involve leasehold houses. The key factor here is the remaining lease term and the ground rent. If it's 999 years with a peppercorn rent, it's essentially freehold, so it’s unlikely to impact the marketability too much.
At the other end of the spectrum, if it's, say, Sixty years it will have a significant effect on the saleability, and probably wouldn't be acceptable to the mortgage company. The length of lease and ground rent will be set out in the lease which should be made available to your conveyancing practitioner.