We see that you have a search directory listing firms on the Barclays conveyancing panel. Do firms pay you a referral fee if I appoint them for our own conveyancing in The Ridgeway?
We are a listing service only for law firms wishing to communicate if they are on the Barclays conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in The Ridgeway.
My stepmother informed me that in buying a property in The Ridgeway there may be a number of restrictions preventing external alterations to the property. Is this right?
There are a number of properties in The Ridgeway which have some sort of restriction or requirement of consent to perform external variations. Part of the conveyancing in The Ridgeway should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
My solicitor has informed me that flying freehold insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in The Ridgeway?
The right level of flying freehold indemnity insurance should be dictated by who your lender. It would differ for example between Santander and Norwich and Peterborough Building Society. Conveyancing solicitors as opposed to members of the public take out such policies.
It is unclear whether my mortgage offer requires a lease extension. I have telephoned my The Ridgeway building society branch on various occasions and was informed it wasn't a problem and they will lend. My The Ridgeway conveyancing solicitor - who is on the bank conveyancing panel- called and was told they will not lend in accordance with their published requirements. I have no idea who is right.
As long as the lawyer is on the bank panel, they must adhere to the Council of Mortgage Lenders’ Handbook conditions for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
Should my solicitor be raising questions regarding flooding as part of the conveyancing in The Ridgeway.
Flooding is a growing risk for lawyers specialising in conveyancing in The Ridgeway. There are those who acquire a property in The Ridgeway, fully expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or dispose of the property. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Solicitors are not best placed to offer advice on flood risk, however there are a numerous searches that can be carried out by the purchaser or on a buyer’s behalf which should give them a better understanding of the risks in The Ridgeway. The conventional set of property information forms sent to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) contains a standard question of the owner to discover if the property has ever been flooded. In the event that flooding has previously occurred and is not revealed by the owner, then a purchaser could issue a compensation claim as a result of such an inaccurate answer. The purchaser’s lawyers will also order an enviro report. This should reveal if there is a recorded flood risk. If so, more detailed inquiries should be conducted.
How does conveyancing in The Ridgeway differ for new build properties?
Most buyers of new build property in The Ridgeway contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is constructed. This is because new home sellers in The Ridgeway typically purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in The Ridgeway or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a quick, chain free conveyancing. The Ridgeway is the location of the property. Can you shed any light on this issue?
Flying freeholds in The Ridgeway are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside The Ridgeway you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in The Ridgeway 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.