Will our lawyer be raising enquiries about flooding as part of the conveyancing in Thurston.
The risk of flooding is if increasing concern for conveyancers specialising in conveyancing in Thurston. Some people will buy a house in Thurston, fully aware 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, adequate insurance cover, or sell the premises. Steps can be carried out during the course of a property purchase to forewarn the purchaser.
Conveyancers are not qualified to impart advice on flood risk, however there are a numerous checks that may be carried out by the buyer or on a buyer’s behalf which should give them a better appreciation of the risks in Thurston. The conventional set of information given to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the seller to determine whether the premises has suffered from flooding. In the event that flooding has previously occurred and is not disclosed by the owner, then a buyer could issue a compensation claim stemming from an incorrect reply. The buyer’s conveyancers may also order an environmental search. This will reveal whether there is a recorded flood risk. If so, additional inquiries will need to be made.
Due to the advice of my in-laws I had a survey completed on a property in Thurston in advance of retaining solicitors. I have been advised that there is a flying freehold overhang to the property. The surveyor advised that some banks will not issue a mortgage on a flying freehold property.
It depends who your proposed lender is. HSBC has different instructions for example to Halifax. Should you wish to call us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Thurston. Conveyancing may be slightly more expensive based on your lender's requirements.
My uncle has urged me to instruct his conveyancing solicitors in Thurston. Do I take his recommendation?
There are no two ways about it the ideal way to select a conveyancing solicitor is to have recommendations from friends or family who have experience in using the conveyancer that you are considering.
I've recently bought a leasehold house in Thurston. Do I have any liability for service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I invested in buying a garden flat in Thurston, conveyancing formalities finalised 4 years ago. How much will my lease extension cost? Corresponding flats in Thurston with a long lease are worth £202,000. The ground rent is £60 levied per year. The lease terminates on 21st October 2075
You have 57 years left to run we estimate the premium for your lease extension to be between £28,500 and £33,000 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.
What is the distinction between surveying and conveyancing in Thurston?
Conveyancing - in Thurston or elsewhere - is the process of legally transferring legal title of property from one person to another. It involves the investigation of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you are buying and will help you find out about the condition of the building and, if there are problems, give you leverage for reducing the price down or asking the seller to remedy the defects before you move in.