It has come to my attention via my IFA that my Knotty Ash lawyer is not on the mortgage company Solicitor panel. How can I be certain that this is indeed the case?
The first thing you need to do is to call your Knotty Ash conveyancer. It is reasonable to expect your lawyer to advise you what has happened. Where they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your bank.
Can you help? My Knotty Ash solicitor is assuring me that he is legally obliged toconduct Knotty Ash conveyancing searches resulting from the fact thatthe firm are on the Virgin Moneyapproved lawyer panel. These Knotty Ash searches cost a lot of money can this be avoided?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with a mortgage company your property lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancing practitioner would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to follow the CML Handbook conditions . Even if you were a cash buyer you would be ill advised not to carry out Knotty Ash conveyancing searches.
We are buying a end of terrace house in Knotty Ash. The intention is to an extension at the rear at the property.Will the conveyancing process involve checks to see if these works are allowed?
Your property lawyer will review the deeds as conveyancing in Knotty Ash can occasionally identify restrictions in the title documents which prevent certain works or need the consent of another owner. Many extensions need local authority planning consent and approval in compliance with building regulations. Some areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these issues with a surveyor before you commit yourself to a purchase.
I have a mortgage with Co-operative for my property in Knotty Ash. Conveyancing has been completed months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Co-operative?
Your original mortgage agreement with Co-operative will provide that you need their approval prior to renting your property as this is likely to be a breach of Co-operative’s mortgage conditions. It may be that Co-operative will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Co-operative directly. It should not be necessary to do this via a Co-operative conveyancing panel lawyer.
I've digested plenty of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Knotty Ash solicitor - who is on the Clydesdale conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Clydesdale will need an independent valuation of the property. Your lawyer will not arrange this. Usually Clydesdale will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your solicitor will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Knotty Ash postcode. As you are getting a mortgage with Clydesdale, you could contact them to see if they have a list of approved surveyors in Knotty Ash.
Will our conveyancer be raising questions regarding flooding during the conveyancing in Knotty Ash.
Flooding is a growing risk for conveyancers dealing with homes in Knotty Ash. There are those who buy a property in Knotty Ash, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, suitable 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 best placed to impart advice on flood risk, however there are a numerous searches that may be initiated by the purchaser or by their solicitors which will give them a better understanding of the risks in Knotty Ash. The standard property information forms given to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual question of the seller to determine whether the property has ever been flooded. If the premises has been flooded in past and is not revealed by the seller, then a buyer could bring a claim for damages resulting from an misleading response. The buyer’s conveyancers should also carry out an enviro report. This should higlight if there is any known flood risk. If so, more detailed inquiries will need to be carried out.
How does conveyancing in Knotty Ash differ for new build properties?
Most buyers of new build or newly converted property in Knotty Ash approach 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 Knotty Ash usually acquire the site, 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 conveyancing solicitors 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 Knotty Ash or who has acted in the same development.
I've recently bought a leasehold property in Knotty Ash. Do I have any liability for service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part 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 Knotty Ash - A selection of Questions you should consider Prior to Purchasing
-
How much is the service charge and ground rent on the property? For most Knotty Ash leaseholds the outlay for major works tend not to be included within service charges, albeit that some managing agents in Knotty Ash ask leaseholders to contribute towards a reserve fund and this is used to offset against larger works. How many of the leaseholders are in arrears for their maintenance charge payments?