We are purchasing our first property. Our solicitor has contact usto enquire if we would like to order extra conveyancing searches. As novices we are clueless as to what's necessary for conveyancing in Moreton
The extent of Moreton conveyancing searches should be dictated entirely on the premises, the location, the possibility of any of these risks, your knowledge of the locality and risks, your general attitude to risk. What matters is that you adequately understand what information the searches could provide. Then you can decide if you personally think you need that information. If unclear, ask the conveyancer to advise.
Will our conveyancer be raising questions about flooding during the conveyancing in Moreton.
The risk of flooding is if increasing concern for lawyers dealing with homes in Moreton. There are those who purchase a property in Moreton, 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, satisfactory insurance cover, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Conveyancers are not best placed to give advice on flood risk, however there are a number of checks that may be carried out by the buyer or by their conveyancers which will figure out the risks in Moreton. The standard property information forms sent to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard inquiry of the seller to find out whether the property has ever been flooded. In the event that the property has been flooded in past and is not disclosed by the vendor, then a purchaser may issue a legal claim for losses stemming from an inaccurate response. A purchaser’s conveyancers may also commission an enviro report. This will reveal if there is any known flood risk. If so, more detailed inquiries should be made.
Are there restrictive covenants that are commonly identified as part of conveyancing in Moreton?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Moreton. 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…’
How does conveyancing in Moreton differ for newly converted properties?
Most buyers of new build or newly converted property in Moreton approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is ready to move into. This is because house builders in Moreton typically 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 property lawyers 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 accustomed to new build conveyancing in Moreton or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I have offered on a fortnight ago in what should have been a simple, chain free conveyancing. Moreton is the location of the property. What do you suggest?
Flying freeholds in Moreton are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Moreton you must be sure that your lawyer goes 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 Moreton 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 residence.
My friend mentioned that when selecting a conveyancing lawyer they must be approved by your mortgage company. It happens to be my first home move but I have an offer in principle via Santander and I already have a local conveyancing solicitor in Moreton in place. Can Santander need an approved solicitor to be selected? If so, where do I find that list for my conveyancing in Moreton?
You need to instruct a solicitor that is on the Santander panel. The first thing to do is call your chosen Moreton conveyancing lawyer to check if they are on the Santander panel. If they are not approved you have a couple of alternatives available to you here:
- Complete the deal with your existing Moreton property lawyer but Santander will undoubtedly appoint a conveyancing practitioner from their approved list. The net impact is additional charges together with probable interruption.
- Choose a fresh lawyer to act in the purchase, ensuring that they are on the Santander conveyancing panel.
- Convince your conveyancer to pull out all the stops to get listed on the Santander conveyancing panel.