Will my lawyer be raising enquiries regarding flooding during the conveyancing in Rainham Kent.

Flooding is a growing risk for lawyers dealing with homes in Rainham Kent. There are those who buy a property in Rainham Kent, fully expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or sell the property. Steps can be carried out during the course of a house purchase to forewarn the purchaser.

Conveyancers are not best placed to offer advice on flood risk, but there are a number of checks that may be undertaken by the buyer or on a buyer’s behalf which can give them a better appreciation of the risks in Rainham Kent. The standard property information forms sent to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual inquiry of the seller to discover whether the premises has historically flooded. If the residence has been flooded in past and is not revealed by the seller, then a purchaser may bring a legal claim for losses resulting from an inaccurate response. A buyer’s lawyers may also order an environmental report. This will disclose if there is any known flood risk. If so, further inquiries will need to be made.

It has been four months following my purchase conveyancing in Rainham Kent concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Rainham Kent is the location of the property. Is there any guidance you can impart?

Flying freeholds in Rainham Kent are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Rainham Kent you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Rainham Kent may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.

I need to instruct a conveyancing solicitor for freehold conveyancing in Rainham Kent. I've discover a web site which appears to be the ideal offering If there is a chance to get all this stuff done via phone that would be ideal. Do I need to be concerned? What are the potential pitfalls?

As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?

I am attracted to a two flats in Rainham Kent which have approximately fifty years remaining on the leases. Will this present a problem?

There is no doubt about it. A leasehold flat in Rainham Kent is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the salability of the premises. For most buyers and mortgage companies, leases with under 75 years become less and less attractive. On a more upbeat 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 a residence 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 Rainham Kent conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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.

Leasehold Conveyancing in Rainham Kent - Sample of Questions you should consider before Purchasing

Many Rainham Kent leasehold properties will incur a service charge for the upkeep of the building levied by the management company. Should you acquire the apartment you will have to pay this charge, normally quarterly throughout the year. This can vary from two or three hundred pounds to thousands of pounds for buildings with lifts and large common grounds. There will also be a ground rent to be met yearly, normally this is not a large amount, say approximately £25-£75 but you need to enquire it because on occasion it could be prohibitively expensive. How much is the annual service fee and ground rent? It is important to be aware if a new roof is being installed or some other major work is coming up to be shared amongst the leaseholders and could well materially impact the level of the service fees or necessitate a specific invoice.