Should our conveyancer be raising enquiries about flooding during the conveyancing in Thrapston.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Thrapston. There are those who acquire a house in Thrapston, completely 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 obtain a mortgage, suitable building insurance, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Solicitors are not best placed to offer advice on flood risk, however there are a various checks that may be undertaken by the purchaser or on a buyer’s behalf which should figure out the risks in Thrapston. The conventional set of information sent to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual inquiry of the seller to discover whether the premises has suffered from flooding. In the event that the residence has been flooded in past which is not notified by the vendor, then a purchaser could commence a legal claim for losses stemming from an inaccurate reply. The buyer’s lawyers will also order an environmental report. This should reveal whether there is a recorded flood risk. If so, more detailed inquiries will need to be initiated.
I own a semi-detached Edwardian house in Thrapston. Conveyancing lawyer acted for me and The Royal Bank of Scotland. I did a free Land Registry search last week and there are a couple of entries: one for freehold, another for leasehold under the exact same property. If a house is not a freehold shouldn't I have been informed?
You need to 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Thrapston and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with the conveyancing practitioner who conducted the purchase.
How does conveyancing in Thrapston differ for new build properties?
Most buyers of new build property in Thrapston approach us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because house builders in Thrapston tend to buy 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 conveyancers 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 Thrapston or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a house in Thrapston before instructing solicitors. I have been advised that there is a flying freehold overhang to the house. Our surveyor advised that some banks may not issue a mortgage on such a property.
It varies from the lender to lender. Santander has different instructions from Birmingham Midshires. If you e-mail us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Thrapston. Conveyancing will be smoother if you use a solicitor in Thrapston especially if they are familiar with such properties in Thrapston.
My brother has suggested that I instruct his lawyers for conveyancing in Thrapston. Do I take his advice?
Much as we are happy to recommend a Thrapston conveyancing lawyer the best way to choose a conveyancing lawyer is to seek referrals from friends or relatives who have used the solicitor that you are are thinking of instructing.