Will my solicitor be raising questions regarding flooding as part of the conveyancing in Waterlooville.
Flooding is a growing risk for lawyers conducting conveyancing in Waterlooville. There are those who buy a property in Waterlooville, fully aware that at some time, it may be flooded. However, leaving to one side 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 premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Solicitors are not best placed to impart advice on flood risk, but there are a number of searches that can be undertaken by the buyer or on a buyer’s behalf which should give them a better appreciation of the risks in Waterlooville. The standard completed inquiry forms given to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard inquiry of the owner to discover if the premises has suffered from flooding. In the event that the premises has been flooded in past and is not disclosed by the vendor, then a buyer could bring a compensation claim stemming from an inaccurate answer. A buyer’s lawyers may also commission an enviro report. This will higlight whether there is a recorded flood risk. If so, more detailed investigations should be carried out.
Me and my brother have a terraced Georgian property in Waterlooville. Conveyancing lawyer represented me and HSBC Bank. I did a free Land Registry search last week and there are two entries: the first freehold, another for leasehold with the exact same address. I'd like to know for sure, how can I find out??
You need to review the Freehold register you have again and check the Charges Register as there may be 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 Waterlooville and other locations in 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 enquire as to the position with the conveyancing solicitor who conducted the work.
I am purchasing my first flat in Waterlooville with a loan from The Royal Bank of Scotland. The sellers would not move on the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep advised me not disclose to my conveyancer about this extras as it would put at risk my loan with The Royal Bank of Scotland. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Over the last few months I have been searching for a leasehold apartment up to £305k and found one close by in Waterlooville I like with a park and transport links nearby, however it's only got 52 years unexpired on the lease. I can't really find anything else in Waterlooville suitable, so just wondered if I would be making a mistake acquiring a short lease?
If you need a home loan the remaining unexpired lease term may be problematic. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least 2 years you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.
How do I locate a Waterlooville law firm on the The Royal Bank of Scotland conveyancing panel? I am a keen cyclist and am happy to travel upto 25kilometers to meet the solicitor.
Feel free to make use of the tool on this page. Please choose the lender and your location and you will see a number of Waterlooville conveyancing lawyers based on proximity. We have listed some Waterlooville conveyancing firms towards the end of this page and you can telephone them to verify if they are on the The Royal Bank of Scotland approved list
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the mortgage company conveyancing panel. My lawyer has said that they are on the lender approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the lender conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the bank solicitor panel.