Should my lawyer be raising questions regarding flooding during the conveyancing in Nether Stowey.
Flooding is a growing risk for lawyers conducting conveyancing in Nether Stowey. Plenty of people will buy a property in Nether Stowey, fully expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Conveyancers are not best placed to impart advice on flood risk, however there are a various checks that can be undertaken by the purchaser or by their solicitors which will give them a better appreciation of the risks in Nether Stowey. The standard property information forms sent to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard question of the owner to determine whether the property has suffered from flooding. In the event that flooding has previously occurred and is not notified by the seller, then a purchaser may issue a compensation claim stemming from an inaccurate response. The buyer’s lawyers may also commission an environmental report. This should reveal whether there is a recorded flood risk. If so, additional investigations should be carried out.
My wife and I purchased a renovated Georgian house in Nether Stowey. Conveyancing practitioner acted for me and Barclays Direct. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, the second leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Nether Stowey and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the position with the conveyancing lawyer who completed the work.
Due to the advice of my in-laws I had a survey completed on a property in Nether Stowey before appointing conveyancers. I have been told that there is a flying freehold aspect to the property. The surveyor advised that some banks will not issue a mortgage on a flying freehold home.
It depends who your proposed lender is. Lloyds has different instructions from Birmingham Midshires. If you contact us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Nether Stowey. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Nether Stowey to see if the conveyancing costs will increase in light of this.
I am in need of some leasehold conveyancing in Nether Stowey. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and almost all are in Nether Stowey - 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 inherited a basement flat in Nether Stowey, conveyancing was carried out half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Nether Stowey with over 90 years remaining are worth £195,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease ceases on 21st October 2087
With 63 years left to run the likely cost is going to span between £16,200 and £18,600 as well as professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.
Do online conveyancing companies undertake everything a local Nether Stowey solicitor does or do I still need to use a solicitor for the final stages for my conveyancing in Nether Stowey?
Where you instruct an online conveyancer they should cover all the things your Nether Stowey solicitor will cover.