Should my lawyer be raising questions about flooding as part of the conveyancing in Thrapston.

Flooding is a growing risk for lawyers conducting conveyancing in Thrapston. Plenty of people will buy a house in Thrapston, fully aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.

Conveyancers are not qualified to give advice on flood risk, however there are a number of searches that may be initiated by the buyer or on a buyer’s behalf which can give them a better appreciation of the risks in Thrapston. The conventional set of completed inquiry forms given to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard inquiry of the vendor to find out whether the property has historically flooded. If the property has been flooded in past which is not revealed by the seller, then a buyer could issue a legal claim for losses as a result of such an inaccurate response. A purchaser’s lawyers should also order an environmental search. This should higlight whether there is a recorded flood risk. If so, more detailed inquiries should be initiated.

It has been four months since my purchase conveyancing in Thrapston concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. 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.

Due to the input of my in-laws I had a survey completed on a property in Thrapston before retaining conveyancers. I have been informed that there is a flying freehold overhang to the house. The surveyor has said that some lenders tend refuse to issue a mortgage on such a premises.

It varies from the lender to lender. HSBC has different instructions for example to Halifax. If you contact us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Thrapston. Conveyancing may be slightly more expensive based on your lender's requirements.

I wish to let out my leasehold flat in Thrapston. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Even though your previous Thrapston conveyancing solicitor is no longer around you can check your lease to check if it allows you to sublet the premises. The accepted inference is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you are obliged to seek consent from your landlord or other appropriate person prior to subletting. This means you not allowed to sublet without prior consent. Such consent should not be unreasonably turned down. If your lease does not allow you to sublet you should ask your landlord for their consent.

Thrapston Conveyancing for Leasehold Flats - Examples of Queries before buying

Who are the managing agents? How many of the leaseholders are in arrears for their service charge payments? Is the freehold owned jointly by the tenants?

I am short of a 10% deposit on my apartment purchase in Thrapston , but I am keen go ahead. What can I do?

One option is to try and agree a smaller deposit. Most sellers will agree to a lesser deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.

You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last moment