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Recently asked questions about conveyancing in Lower Earley

Should our solicitor be raising enquiries about flooding as part of the conveyancing in Lower Earley.

Flooding is a growing risk for lawyers conducting conveyancing in Lower Earley. There are those who acquire a property in Lower Earley, fully expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or sell the property. Steps can be carried out during the course of a property purchase to forewarn the purchaser.

Lawyers are not best placed to offer advice on flood risk, however there are a numerous checks that may be initiated by the purchaser or by their conveyancers which can give them a better appreciation of the risks in Lower Earley. The conventional set of completed inquiry 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 owner to discover if the property has suffered from flooding. In the event that the residence has been flooded in past which is not notified by the owner, then a buyer may bring a compensation claim stemming from an incorrect response. A purchaser’s lawyers should also carry out an environmental search. This should disclose whether there is a recorded flood risk. If so, more detailed investigations should be carried out.

How does conveyancing in Lower Earley differ for newly converted properties?

Most buyers of new build residence in Lower Earley contact us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is completed. This is because house builders in Lower Earley usually buy the real estate, 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 accustomed to new build conveyancing in Lower Earley or who has acted in the same development.

I am looking for a ground for flat up to £195,000 and identified one near me in Lower Earley I like with amenity areas and railway links nearby, however it's only got 51 years unexpired on the lease. There is not much else in Lower Earley in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?

If you need a mortgage that many years will be problematic. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of twenty four months you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.

I'm refinancing my existing property to a buy to let mortgage with Clydesdale and I will use the rest of the raised equity as a down payment on further house. The location we are looking at is Lower Earley. Will your lawyers be able to act for the two banks and link together the transactions?

Do use our search tool on this site to check that the lawyers are on the appropriate lender panels. On the basis that they are your conveyancer will be able to connect the two conveyancing matters but you should have a chat with you conveyancer and make clear your expectations and needs.

I am hoping to complete next month on a leasehold property in Lower Earley. Conveyancing lawyers inform me that they will have a report out to me next week. What should I be looking out for?

The report on title for your leasehold conveyancing in Lower Earley should include some of the following:

    Will you be prohibited or prevented from having pets in the property? You would want to be sent a copy of the lease Does the lease prohibit wood flooring? You should have a good understanding of the building insurance obligations Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
For a comprehensive list of information to be contained in your report on your leasehold property in Lower Earley please enquire of your lawyer in ahead of your conveyancing in Lower Earley.

Leasehold Conveyancing in Lower Earley - Sample of Queries before buying

    This question is important as a) areas may cause problems in the block as the common areas may start to deteriorate if repairs remain unpaid b) if the leaseholders have an issue with the running of the building you will need to have full disclosure What is the yearly service fee and ground rent?

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