IfI was to buy a straightforward homein New Waltham for cash and dispense with a survey and no conveyancing searches how much could I expect to to save on my conveyancing in New Waltham?
The only saving you would achieve is the costs for searches. The property lawyer still be obliged to do everything else - money laundering, communicating with your sellers conveyancer, stamp duty return, register the ownership etc. A marginal saving might be made by not having to register a mortgage but it will not be significant.
We are expecting a mortgage offer soon. The lender mentioned the loan came with free conveyancing. Does this mean I have to appoint their panel lawyer as I would prefer to appoint a New Waltham based conveyancing firm?
You should check but the the likelihood is that appoint one of their panel lawyers should you want the "fee-free" incentive. Contact the bank and explore if they make available a monetary alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor near New Waltham.
Should our conveyancer be raising enquiries regarding flooding during the conveyancing in New Waltham.
Flooding is a growing risk for solicitors dealing with homes in New Waltham. There are those who purchase a property in New Waltham, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or dispose of the property. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Conveyancers are not best placed to give advice on flood risk, however there are a numerous searches that can be initiated by the purchaser or on a buyer’s behalf which can figure out the risks in New Waltham. The conventional set of property information forms supplied to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) includes a standard inquiry of the owner to find out whether the property has suffered from flooding. If flooding has previously occurred and is not disclosed by the vendor, then a purchaser may commence a compensation claim as a result of such an inaccurate response. A purchaser’s solicitors should also order an environmental search. This will disclose whether there is any known flood risk. If so, more detailed investigations will need to be carried out.
About to purchase a new build apartment in New Waltham. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in New Waltham
Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Forfeiture - bankruptcy or liquidation must not apply under this provision. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please supply evidence that the form of Lease proposed has been approved by the Land Registry.
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one close by in New Waltham I like with amenity areas and railway links nearby, however it's only got 51 remaining years left on the lease. I can't really find anything else in New Waltham in this price bracket, so just wondered if I would be making a mistake buying a short lease?
Should you require a home loan the shortness of the lease will be an issue. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you could ask them to commence the lease extension formalities 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 consult your conveyancing lawyer concerning this.