As a FTB what is the most important piece of guidance you can impart concerning purchase conveyancing in Newquay?

You may not hear this from too many lawyers but conveyancing in Newquay or throughout England and Wales is often a confrontational process. In other words, when it comes to conveyancing there is plenty of opportunity for conflict between you and others involved in the legal transfer of property. For instance, the seller, estate agent and even potentially the bank. Choosing a law firm for your conveyancing in Newquay is a critical decision as your conveyancer is your adviser, and is the ONLY person in the process whose interest is to act in your legal interests and to protect you.

Sometimes a potential adversary may try and convince you that you should follow their advice. For instance, the selling agent may claim to be assisting by suggesting your lawyer is dragging his heels. Or your financial adviser may advise you to do something that is against your solicitors guidance. You should always trust your lawyer above all other parties in the home moving process.

Is it necessary during the course of the conveyancing process to visit the offices of the solicitor to execute the mortgage deed? If so, I will choose one who does conveyancing in Newquay so that I can attend their offices if required.

Nowadays conveyancing panel lawyers for banks undertake the vast majority of work via the post, e-mail or over the phone. This means that they can undertake the conveyancing transaction no matter where you live in England or Wales. However you can see if you can still book an appointment to visit conveyancing lawyer if needed.

Should our lawyer be raising enquiries regarding flooding as part of the conveyancing in Newquay.

Flooding is a growing risk for solicitors conducting conveyancing in Newquay. There are those who buy a house in Newquay, completely expectant that at some time, it may suffer from flooding. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.

Lawyers are not best placed to give advice on flood risk, however there are a numerous checks that can be initiated by the buyer or on a buyer’s behalf which will give them a better understanding of the risks in Newquay. The conventional set of property information forms supplied to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual question of the owner to determine if the property has suffered from flooding. If the premises has been flooded in past and is not notified by the vendor, then a buyer could commence a claim for damages stemming from an inaccurate reply. The purchaser’s solicitors should also conduct an environmental search. This should higlight if there is a recorded flood risk. If so, additional investigations should be conducted.

My wife and I own a renovated Georgian house in Newquay. Conveyancing lawyer acted for me and The Mortgage Works. I did a free Land Registry search last week and there are a couple of entries: one for freehold, the second leasehold with the matching property. I thought I was buying a freehold how can I check?

You should 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Newquay and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the situation with the conveyancing lawyer who carried out the work.

I am looking at a couple of maisonettes in Newquay both have approximately forty five years unexpired on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in Newquay is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the value of the property. For most purchasers and banks, leases with under eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Newquay conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Leasehold Conveyancing in Newquay - A selection of Questions you should ask before buying

The best form of lease arrangement is a share of the freehold. In this scenario the tenants have control and even though a managing agent is often employed where it is larger than a house conversion, the managing agent acts for the leaseholders themselves. Who is in charge of the building? Does this lease have in excess of 90 years unexpired?