Will our conveyancer be making enquiries about flooding during the conveyancing in Kemp Town.

Flooding is a growing risk for conveyancers specialising in conveyancing in Kemp Town. There are those who acquire a house in Kemp Town, fully aware 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, suitable building insurance, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.

Solicitors are not best placed to impart advice on flood risk, but there are a numerous checks that can be initiated by the buyer or on a buyer’s behalf which can figure out the risks in Kemp Town. The standard property information forms given to a buyer’s solicitor (where the Conveyancing Protocol is adopted) contains a standard question of the owner to find out whether the property has ever been flooded. If flooding has previously occurred which is not revealed by the seller, then a purchaser may bring a claim for damages as a result of such an inaccurate reply. A purchaser’s lawyers will also conduct an enviro search. This should disclose if there is any known flood risk. If so, further investigations should be carried out.

Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what should have been a simple, chain free conveyancing. Kemp Town is the location of the property. Can you offer any assistance?

Flying freeholds in Kemp Town are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Kemp Town you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Kemp Town may ascertain 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'm remortgaging my current house to a buy to let loan with Nationwide Building Society and intend to use the remaining equity as a deposit on further property. The location we are talking about is Kemp Town. Will your lawyers be able to act for the two lenders and tie in the conveyances?

Do use our search tool on this site to ensure that the solicitors are on the relevant lender panels. On the basis that they are the conveyancer should be able to tie up the two deals but you should have a chat with you conveyancer and make clear your desired outcome and requirements.

I am in need of some leasehold conveyancing in Kemp Town. Before I set the wheels in motion I would like to find out the remaining lease term.

Assuming the lease is registered - and almost all are in Kemp Town - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I own a 2 bed flat in Kemp Town, conveyancing was carried out 7 years ago. How much will my lease extension cost? Corresponding properties in Kemp Town with an extended lease are worth £197,000. The ground rent is £55 levied per year. The lease runs out on 21st October 2079

You have 55 years unexpired we estimate the premium for your lease extension to be between £31,400 and £36,200 plus professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.

Me and my wife are about to exchange on the purchase a property in Kemp Town but as a result of damage from the recent storms I have agreed compensation from the seller of five thousand pounds in the form of a reduction in the price. I had intended this to be dealt with as part of the conveyancing process yet my bank will not permit this. Why were they approached?

Any lawyer that is on the bank conveyancing panel is required to advise the bank of any amendments to the sale amount. In the event that you were to refuse your conveyancer to disclose the price change to your mortgage company then they would have to refrain from acting for you and the bank.