Will our conveyancer be raising questions regarding flooding during the conveyancing in Heath.

The risk of flooding is if increasing concern for solicitors dealing with homes in Heath. Some people will buy a property in Heath, completely aware that at some time, it may be flooded. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or dispose of the premises. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.

Lawyers are not qualified to offer advice on flood risk, but there are a numerous checks that may be carried out by the purchaser or on a buyer’s behalf which should figure out the risks in Heath. The standard property information forms sent to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) incorporates a standard question of the owner to find out whether the premises has historically flooded. If flooding has previously occurred which is not revealed by the vendor, then a purchaser may bring a compensation claim resulting from an inaccurate response. The buyer’s lawyers should also carry out an environmental search. This will disclose if there is any known flood risk. If so, further investigations should be initiated.

How does conveyancing in Heath differ for new build properties?

Most buyers of new build residence in Heath approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is completed. This is because developers in Heath typically 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 used to new build conveyancing in Heath or who has acted in the same development.

I am looking for a flat up to £235,500 and found one close by in Heath I like with amenity areas and transport links in the vicinity, the downside is that it only has 61 remaining years left on the lease. I can't really find anything else in Heath for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?

Should you need a home loan the shortness of the lease will likely be problematic. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of twenty four months you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.

My husband and I are a couple of weeks into a leasehold purchase having been directed to solicitors by the local agent to perform conveyancing in Heath. We are not happy. Could you help me find new lawyers?

They would need to be really poor to suggest diss instructing them. Has the loan offer been sent? In the event that it has you must advise them of the new contact details and have the loan are issued to the new lawyers. The conveyancer needs to be on the banks panel to avoid escalating expenses and complications. That should be your starting point. The search tool will help you find a bank approved solicitor for your home move in Heath

I am attracted to a couple of flats in Heath both have about 50 years unexpired on the lease term. Will this present a problem?

There is no doubt about it. A leasehold flat in Heath is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the premises. For most purchasers and mortgage companies, leases with less than 75 years become less and less marketable. On a more positive 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 premises 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 Heath conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed 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.

Heath Conveyancing for Leasehold Flats - A selection of Questions you should consider before buying

Generally speaking the cost for major works tend not to be incorporated into the maintenance charges, although some managing agents in Heath ask leasehold owners to contribute towards a reserve fund created for the specific intention of establishing a fund for larger repairs or maintenance. It is important to be aware whether changing the roof or some other significant cost is anticipated that will be shared by the leaseholders and will dramatically impact the level of the service charges or necessitate a specific payment.