Will our conveyancer be making enquiries concerning flooding during the conveyancing in Bournemouth.

The risk of flooding is if increasing concern for lawyers carrying out conveyancing in Bournemouth. There are those who purchase a house in Bournemouth, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.

Lawyers are not best placed to offer advice on flood risk, however there are a numerous searches that can be undertaken by the buyer or on a buyer’s behalf which can figure out the risks in Bournemouth. The standard property information forms given to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) contains a standard question of the seller to find out whether the premises has suffered from flooding. In the event that the premises has been flooded in past and is not revealed by the seller, then a buyer could commence a legal claim for losses as a result of such an incorrect answer. A purchaser’s solicitors may also order an environmental report. This will reveal whether there is any known flood risk. If so, further investigations should be made.

How does conveyancing in Bournemouth differ for newly converted properties?

Most buyers of new build premises in Bournemouth contact us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is built. This is because builders in Bournemouth usually buy the land, 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 accustomed to new build conveyancing in Bournemouth or who has acted in the same development.

I am looking for a leasehold apartment up to £235,500 and found one close by in Bournemouth I like with a park and station nearby, however it only has 51 remaining years left on the lease. I can't really find anything else in Bournemouth in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?

If you require a mortgage that many years will likely be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of 2 years you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.

Should I instruct a Bournemouth conveyancing lawyer who is local to the property I am purchasing? I have an old university friend who can carry out the legal work however they are based a couple of hundredmiles away.

The benefit of a local Bournemouth conveyancing firm is that you can attend the office to sign documents, deliver your ID and pester them where appropriate. Having local Bournemouth know how is a plus. However nothing is more important than finding someone that will pull out all the stops for you. If you know people who instructed your friend and on the whole were content that should surpass using an unfamiliar Bournemouth conveyancing lawyer just because they are round the corner.

My lawyers in Bournemouth have advised me that they can not locate my conveyancing file. At the time of my purchase I took out a mortgage with the lender. Is it case that being on the mortgage company conveyancing panel they need to have retained the file for a number of years?

Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the lender Conveyancing Panel Terms. It might be worth you contacting the mortgage company directly.