Will my lawyer be raising questions concerning flooding during the conveyancing in Mitcheldean.

Flooding is a growing risk for lawyers conducting conveyancing in Mitcheldean. Some people will acquire a property in Mitcheldean, completely aware that at some time, it may be flooded. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.

Lawyers are not best placed to impart advice on flood risk, but there are a various checks that may be carried out by the purchaser or on a buyer’s behalf which will figure out the risks in Mitcheldean. The conventional set of information given to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual inquiry of the owner to discover if the premises has suffered from flooding. If flooding has previously occurred and is not revealed by the owner, then a purchaser could bring a claim for damages resulting from an misleading reply. A buyer’s conveyancers may also order an environmental search. This should indicate whether there is any known flood risk. If so, further inquiries will need to be carried out.

It has been 3 months since my purchase conveyancing in Mitcheldean completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £215,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

Am I better off to appoint a Mitcheldean conveyancing lawyer in close proximity to the house I am purchasing? I have an old university friend who can deal with the legal formalities however they are based 200kilometers drive away.

The primary upside of using a high street Mitcheldean conveyancing practice is that you can drop in to sign paperwork, hand in your ID and apply pressure on them where appropriate. They will also have local insight which is a plus. However it's more important to get someone that will pull out all the stops for you. If other friends have instructed your friend and in the main were content that must surpass using an unfamiliar Mitcheldean conveyancing lawyer solely due to them being local.

I work for a busy estate agency in Mitcheldean where we have experienced a number of leasehold sales jeopardised as a result of short leases. I have received conflicting advice from local Mitcheldean conveyancing firms. Could you clarify whether the vendor of a flat can instigate the lease extension formalities for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

Mitcheldean Leasehold Conveyancing - A selection of Questions you should consider Prior to Purchasing

Where a Mitcheldean lease has no more than eighty years it will affect the marketability of the property. It is worth checking with your mortgage company that they are willing to go ahead with the loan given the lease term. Leases with less than 80 years remaining means that you will most likely need a lease extension sooner rather than later and you need to have some idea of what this would cost. Remember, in most cases you will be required to have owned the property for a couple of years in order to be legally able to exercise a lease extension. Many Mitcheldean leasehold properties will be liable to pay a service bill for maintenance of the block set by the management company. Where you buy the property you will have to meet this contribution, normally quarterly accross the year. This may be anything from several hundred pounds to thousands of pounds for bigger purpose-built buildings. In all likelihood there will be a ground rent for you to pay annual, this is usually not a exorbitant figure, say around £50-£100 but you need to enquire it because on occasion it can be many hundreds of pounds.

Online reading suggests that Mitcheldean solicitors are more expensive than Mitcheldean conveyancers in Mitcheldean when it comes to buying a property. Am I better off using a conveyancer or a solicitor if I am purchasing for my home move in Mitcheldean.

When it comes to conveyancing in Mitcheldean the costs are unlikely to vary dramatically depending on whether the legal expert is a licenced conveyancer or solicitor.