My brother and I have lately bought a house in Old Windsor. We have noticed several issues with the property which we suspect were overlooked in the conveyancing searches. What action can we take? Can you clarify the type of searches that needed to have been ordered as part of conveyancing in Old Windsor?

The question is not clear as to the nature of the problems and if they are specific to conveyancing in Old Windsor. Conveyancing searches and due diligence initiated during the legal transfer of property are carried out to help avoid problems. As part of the process, a seller answers a document known as a Seller’s Property Information Form. answers turns out to be inaccurate, then you may have a claim against the vendor for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Old Windsor.

Will our conveyancer be making enquiries about flooding during the conveyancing in Old Windsor.

The risk of flooding is if increasing concern for lawyers carrying out conveyancing in Old Windsor. There are those who purchase a house in Old Windsor, fully aware that at some time, it may be flooded. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.

Lawyers are not qualified to give advice on flood risk, but there are a various checks that may be carried out by the purchaser or on a buyer’s behalf which will give them a better appreciation of the risks in Old Windsor. The conventional set of property information forms sent to a buyer’s solicitor (where the Conveyancing Protocol is adopted) incorporates a standard inquiry of the vendor to discover if the premises has ever been flooded. In the event that flooding has previously occurred and is not notified by the seller, then a buyer may issue a claim for damages as a result of such an misleading response. The buyer’s solicitors should also conduct an environmental search. This should indicate if there is any known flood risk. If so, additional investigations should be carried out.

How does conveyancing in Old Windsor differ for new build properties?

Most buyers of new build or newly converted property in Old Windsor come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is completed. This is because builders in Old Windsor tend to acquire the real estate, 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 Old Windsor or who has acted in the same development.

I decided to have a survey carried out on a house in Old Windsor prior to instructing lawyers. I have been advised that there is a flying freehold overhang to the house. Our surveyor advised that some lenders will refuse to grant a loan on this type of home.

It varies from the lender to lender. Lloyds has different requirements from Birmingham Midshires. Should you wish to telephone us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Old Windsor. Conveyancing will be smoother if you use a solicitor in Old Windsor especially if they are acquainted with such properties in Old Windsor.

I am tempted by the attractive purchase price for a two maisonettes in Old Windsor which have about forty five years left on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Old Windsor. The lease is a right to use the premises for a period of time. As a lease shortens the value of the lease decreases and results in it becoming more costly to extend the lease. For this reason it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this arena.

Leasehold Conveyancing in Old Windsor - Examples of Queries Prior to Purchasing

How many of the leaseholders are in arrears for their service charge payments? Its a good idea to find out as much as possible concerning the company managing the building 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 day to day issues like the upkeep of the communal areas. Don't be shy to ask other people if they are happy with their service. Finally, be sure you know the dates that you are obliged pay the service charge to the relevant party and specifically what you get for your money. How much is the yearly service fee and ground rent?