It is a dozen years since I acquired my property in Bedminster. Conveyancing lawyers have now been instructed on the sale but I am unable to locate the title deeds. Will this cause complications?
You need not be too concerned. First the deeds may be kept by your mortgage company or they could stored with the conveyancers who acted in your purchase. Secondly in all probability the land will be recorded at the land registry and you will be able to prove you own the property by your conveyancing solicitors procuring up to date copy of the land registers. Almost all conveyancing in Bedminster involves registered property but in the rare situation where your home is unregistered it is more tricky but is resolvable.
Should my solicitor be raising enquiries regarding flooding as part of the conveyancing in Bedminster.
The risk of flooding is if increasing concern for lawyers specialising in conveyancing in Bedminster. There are those who buy a property in Bedminster, completely expectant that at some time, it may suffer from flooding. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Lawyers are not qualified to give advice on flood risk, but there are a numerous searches that may be undertaken by the buyer or by their lawyers which should give them a better understanding of the risks in Bedminster. The standard property information forms supplied to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) contains a usual inquiry of the vendor to determine whether the property has suffered from flooding. If the property has been flooded in past and is not revealed by the vendor, then a buyer may issue a claim for damages resulting from an misleading answer. A purchaser’s lawyers may also conduct an enviro report. This should reveal if there is a recorded flood risk. If so, additional investigations will need to be initiated.
Are there restrictive covenants that are commonly picked up during conveyancing in Bedminster?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Bedminster. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am purchasing my first flat in Bedminster with a loan from Coventry Building Society. The developers would not move on the price so I negotiated £7000 of extras instead. The house builders rep advised me not inform my solicitor about this deal as it may put at risk my mortgage with Coventry Building Society. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
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How much experience do your Bedminster conveyancing solicitors have with Help To Buy, Shared Equity and similar schemes?
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