Should our lawyer be making enquiries regarding flooding during the conveyancing in Pwllheli.

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

Lawyers are not qualified to impart advice on flood risk, however there are a number of searches that can be undertaken by the buyer or on a buyer’s behalf which can give them a better appreciation of the risks in Pwllheli. The conventional set of completed inquiry forms given to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard question of the vendor to find out whether the property has suffered from flooding. In the event that flooding has previously occurred which is not notified by the vendor, then a buyer may bring a claim for damages as a result of such an inaccurate reply. The buyer’s solicitors will also carry out an environmental report. This will indicate if there is any known flood risk. If so, more detailed investigations should be conducted.

I own a semi-detached Victorian property in Pwllheli. Conveyancing lawyer acted for me and Godiva Mortgages Ltd. I did a free Land Registry search last week and there are two entries: the first freehold, the second leasehold with the exact same address. I thought I was buying a freehold how can I check?

You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Pwllheli and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with your conveyancing practitioner who conducted the purchase.

How does conveyancing in Pwllheli differ for newly converted properties?

Most buyers of new build residence in Pwllheli contact us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is completed. This is because house builders in Pwllheli tend to purchase 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 Pwllheli or who has acted in the same development.

I have been on the look out for a leasehold apartment up to £235,500 and identified one round the corner in Pwllheli I like with a park and railway links in the vicinity, however it only has 51 remaining years left on the lease. There is not much else in Pwllheli for this price, so just wondered if I would be making a mistake buying a lease with such few years left?

Should you require a mortgage the remaining unexpired lease term may be problematic. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least twenty four months you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this.

I've recently bought a leasehold flat in Pwllheli. Do I have any liability for service charges relating to a period prior to my ownership?

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 ensure 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).

Leasehold Conveyancing in Pwllheli - Sample of Questions you should ask Prior to buying

Does this lease have in excess of 82 years left? Is there a share of the freehold? It is important to be aware whether redecorating or some other major work is due in the foreseeable future that will be shared between the tenants and may well materially impact the level of the service charges or necessitate a specific invoice.