My solicitor has discovered a a problem with the lease for the property we are buying in Caerphilly. The other side have offered defective title insurance as a solution. We are content with insurance and will pay for it. Our lawyer says that he must ensure that the bank is happy with this solution. Are we the client or is the mortgage company ?

The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.

Should my lawyer be raising questions regarding flooding as part of the conveyancing in Caerphilly.

Flooding is a growing risk for conveyancers dealing with homes in Caerphilly. There are those who buy a house in Caerphilly, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or dispose of the premises. 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 may be initiated by the buyer or on a buyer’s behalf which will give them a better appreciation of the risks in Caerphilly. The conventional set of information supplied to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual question of the seller to find out if the premises has ever been flooded. If flooding has previously occurred and is not revealed by the seller, then a buyer may issue a claim for damages as a result of such an inaccurate response. A buyer’s lawyers should also order an environmental search. This should disclose if there is any known flood risk. If so, more detailed inquiries should be initiated.

How does conveyancing in Caerphilly differ for new build properties?

Most buyers of new build residence in Caerphilly approach us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because builders in Caerphilly tend to acquire the site, 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 conveyancers 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 Caerphilly or who has acted in the same development.

Should I be suspicious about third parties that I am dealing with are recommending an internet conveyancing firm rather than a local Caerphilly conveyancing practice?

As is the case with many professional services, often referrals from relatives can be worth their weight in gold. Yet there are lots of parties with a vested interest in a conveyancing matter; estate agents, financial adviser and lenders might all put forward lawyers to retain. Sometimes these conveyancers might be known to one of the organisations as experts in their field, but sometimes there may be a commercial relationship behind the endorsement. You have the right to select your own lawyer. Don't forget that most lenders have an approved list of solicitors you are obliged to use for the lender aspect of your house move.

Planning to exchange soon on a ground floor flat in Caerphilly. Conveyancing lawyers assured me that they will have a report out to me on Monday. What should I be looking out for?

The report on title for your leasehold conveyancing in Caerphilly should include some of the following:

Ground rent - how much and what the invoice dates are, and also know whether this will change in the future You should know if the lease permits you to add or improve aspects of the flat- you should know whether any restrictions relates to all alterations or just structural alteration, and whether consent is mandated necessary specifics of the parties to the lease, for example these could be the leaseholder, superior lessor, landlord What options are open to you if another leaseholder in the building breaches a clause of their lease? Your solicitors should enable you to have an understanding of the insurance provisions

Leasehold Conveyancing in Caerphilly - Examples of Queries before Purchasing

Its a good idea to discover as much as you can concerning the company managing the block as they will impact your use and enjoyment of the property. Being a leasehold owner you will be at the mercy of the managing agents from a financial perspective and when it comes to daily matters like the cleanliness of the common parts. Ask other tenants what they think of their management. On a final note, find out the dates that the maintenance fees are due to the managing agents and precisely how they are spending the funds. In the main the cost for major works tend not to be included within maintenance charges, although a few managing agents in Caerphilly require tenants to contribute towards a reserve fund created for the specific purpose of building a fund for larger works. It is important to be aware if window replacement or some other significant cost is due shortly that will be shared amongst the leaseholders and will materially increase the the service charges or necessitate a one off payment.