I am told that my conveyancing solicitors will need to check that the building insurance for my purchase of a house in Mountsorrel. My lender is Chelsea Building Society
Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 9/12/2018, the requirements read as follows :
Should my lawyer be raising enquiries concerning flooding as part of the conveyancing in Mountsorrel.
The risk of flooding is if increasing concern for lawyers conducting conveyancing in Mountsorrel. Plenty of people will acquire a house in Mountsorrel, completely aware that at some time, it may suffer from flooding. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Solicitors are not qualified to offer advice on flood risk, but there are a various checks that may be initiated by the purchaser or by their lawyers which should figure out the risks in Mountsorrel. The standard property information forms sent to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard inquiry of the vendor to find out whether the premises has ever been flooded. If flooding has previously occurred and is not revealed by the owner, then a buyer could commence a claim for damages stemming from an misleading answer. The purchaser’s lawyers should also carry out an enviro report. This should higlight whether there is a recorded flood risk. If so, more detailed inquiries will need to be carried out.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what should have been a quick, no chain conveyancing. Mountsorrel is the location of the property. Can you shed any light on this issue?
Flying freeholds in Mountsorrel are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Mountsorrel you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Mountsorrel may determine 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 residence.
Taking into account that I am about to spend £400,000 on a two bedroom apartment in Mountsorrel I wish to have a conversation with the conveyancer concerning theconveyancing in advance of giving the go ahead to the firm. Can this be arranged?
This is something that we recommend - we would be happy to talk to you we do not take any clients on without you first talking to the conveyancer due to be doing your property ownership legalities in Mountsorrel.There is no ‘factory style conveyancing’ - each client is unique person, not a case reference. The law firms that we put you in touch with believe that the fees you are quoted for your conveyancing in Mountsorrel should be the figure that you end up paying.
I am thinking of appointing a conveyancing solicitor in Mountsorrel for my home move. Is it possible to see a firm’s record with the profession’s regulator?
Anyone may see published Solicitor Regulator Association (SRA) decisions stemming from investigations from 2008 onwards. Go to Check a solicitor's record. For information about the period before 1 January 2008, or to check a solicitors history, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, call +44 (0)121 329 6800. The SRA could monitor call for training purposes.