I am in the throes of changing my current homeowner loan to a Buy to Let Skipton Building Society mortgage. I have been informed by my broker that I need a solicitor for this. I got in contact with the same Kempston conveyancing practitioner who who did the conveyancing when I previously acquired the property. The quote e-mailed to me of £450 plus VAT has surprised me as I am not require purchase conveyancing - it’s simply a bog-standard refinance.
The quote is fractionally on the steep side. If you shop around you could reduce the fees slightly by say £100 plus VAT. On the other hand, assuming were satisfied with the assistance the firm gave you couldcome to regret opting for an an unknown lawyer. If is important to enquire that the firm can represent Skipton Building Society. Do make use of our search tool to select a Kempston conveyancing firm on the Skipton Building Society approved list of lawyers, which can often include conveyancing solicitors in Kempston.
Will our solicitor be raising enquiries about flooding during the conveyancing in Kempston.
Flooding is a growing risk for lawyers carrying out conveyancing in Kempston. Some people will acquire a house in Kempston, 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 get a mortgage, satisfactory building insurance, or dispose of the premises. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Solicitors are not qualified to impart advice on flood risk, but there are a numerous checks that can be undertaken by the purchaser or on a buyer’s behalf which can give them a better appreciation of the risks in Kempston. The conventional set of completed inquiry forms given to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard inquiry of the vendor to find out if the property has suffered from flooding. If the premises has been flooded in past which is not revealed by the owner, then a buyer may issue a compensation claim stemming from an misleading reply. The buyer’s conveyancers may also commission an enviro search. This should indicate whether there is a recorded flood risk. If so, further investigations will need to be carried out.
How does conveyancing in Kempston differ for new build properties?
Most buyers of new build property in Kempston contact us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is built. This is because new home sellers in Kempston tend to 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 conveyancing solicitors 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 Kempston or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in last month in what was supposed to be a quick, chain free conveyancing. Kempston is the location of the property. What do you suggest?
Flying freeholds in Kempston are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Kempston you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Kempston 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 premises.
I purchased a house in Kempston last 20/6/2018 and to date it is still not recorded with HMLR. It was part of a development site and my conveyancer told me that it can take twelve months to complete the registration formalities. I have called HMLR directly and they say that the original application was cancelled due to failure to reply to requisitions. What can I do?
It is your conveyancing practitioner that you should turn to here in order to satisfy any issues which have been raised as part of the registration formalities for your Kempston property. Normal Kempston conveyancing practice includes an undertaking on the part of the vendor’s property lawyer that they will assist in resolving any question raised by HMLR so it may be a case of seeking to enforce that undertaking if necessary.