We instructed a local solicitor for my conveyancing in Lancaster recently. After carefully reading the Terms I noteI am on the hook for fees even where the transaction does not complete. Would I be best advised to appoint an internet conveyancing brokerage advertising no move no charge conveyancing in Lancaster?

Generally there is a concession along the lines that if "No Completion No Fee" is offered then the conveyancing charges will tend to be be uplifted to offset the transactions that do not go ahead. Dont forget that these schemes generally do not protect you from outlay by way of example Lancaster conveyancing search costs.

All was ready to complete my purchase in Lancaster next Friday. My property lawyer now wants me to supply her with evidence of content and building insurance for the property as as she informs me that she is duty bound to validate that it is in order for the bank. What risks does the mortgage company expect the insurance to cover?

All property lawyers on acting for mortgage companies would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 conditions. These requirements are not limited to conveyancing in Lancaster.

Should our solicitor be raising questions regarding flooding during the conveyancing in Lancaster.

The risk of flooding is if increasing concern for conveyancers specialising in conveyancing in Lancaster. Plenty of people will purchase a property in Lancaster, completely expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or sell the property. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.

Solicitors are not best placed to impart advice on flood risk, but there are a number of checks that can be initiated by the buyer or by their lawyers which should figure out the risks in Lancaster. The standard completed inquiry forms supplied to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard inquiry of the owner to discover if the premises has suffered from flooding. In the event that the property has been flooded in past which is not disclosed by the vendor, then a buyer may commence a compensation claim as a result of such an inaccurate reply. The buyer’s lawyers will also order an enviro search. This will indicate if there is a recorded flood risk. If so, more detailed inquiries will need to be made.

I've recently bought a leasehold property in Lancaster. Am I liable to pay service charges relating to a period prior to completion of my purchase?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, 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).

Lancaster Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to buying

How much is the maintenance charge and ground rent on the flat? Who are the managing agents? For many Lancaster leaseholds the cost for major works tend not to be wrapped into the service charges, although some managing agents in Lancaster require leaseholders to pay into a reserve fund and this is used to offset against major works.

We are soon to complete buying a property in Lancaster but as a consequence of damage from the recent storms I have negotiated recompense from the vendor of £2k in the form of a deduction in the price. I had intended this to be addressed as part of the conveyancing process yet the mortgage company will not permit this. Why were they notified?

The property lawyer listed on a bank approved list is duty bound to inform the bank of any changes to the purchase amount. If you were to refuse your lawyer to disclose the price change to your mortgage company then they would have to refrain from acting for you and the mortgage company.