Should our lawyer be raising enquiries concerning flooding as part of the conveyancing in Windsor.
The risk of flooding is if increasing concern for solicitors dealing with homes in Windsor. Plenty of people will acquire a house in Windsor, fully aware that at some time, it may be flooded. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or dispose of the property. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Lawyers are not best placed to offer advice on flood risk, however there are a numerous checks that can be carried out by the buyer or on a buyer’s behalf which will figure out the risks in Windsor. The standard property information forms supplied to a buyer’s lawyer (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the seller to determine if the property has suffered from flooding. If the residence has been flooded in past and is not notified by the seller, then a buyer may issue a claim for damages stemming from an misleading answer. A purchaser’s lawyers may also order an environmental report. This will indicate if there is a recorded flood risk. If so, more detailed inquiries should be carried out.
How does conveyancing in Windsor differ for newly converted properties?
Most buyers of new build residence in Windsor contact us having been asked by the seller to sign contracts and commit to the purchase even before the property is finished. This is because builders in Windsor usually 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 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 Windsor or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I put an offer in a fortnight ago in what should have been a straight forward, no chain conveyancing. Windsor is where the house is located. What do you suggest?
Flying freeholds in Windsor are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Windsor you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Windsor may ascertain 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 premises.
Am I best advised to use a Windsor conveyancing practitioner in close proximity to the house I am buying? I have an old university friend who can handle the conveyancing however his firm is located over three hundred kilometers away.
The benefit of a high street Windsor conveyancing practice is that you can drop in to execute paperwork, present your ID and apply pressure on them if necessary. They will also have local knowledge which is a benefit. However it's more important to get someone that will pull out all the stops for you. If you know people who instructed your friend and in the main were happy that must trump using an unfamiliar Windsor conveyancing solicitor solely due to them being based in the area.
I own a leasehold flat in Windsor. Conveyancing and Barclays mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Windsor who previously acted has long since retired. Any advice?
The first thing you should do is make enquiries of the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Windsor conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Windsor Conveyancing for Leasehold Flats - Sample of Queries Prior to buying
-
Are any of leasehold owners in arrears of their service charge liability? The answer will be important as a) areas can cause problems for the block as the communal areas may begin to deteriorate if repairs remain unpaid b) if the tenants have a dispute with the running of the building you will wish to have all the details Does the lease contain onerous restrictions?
My nephew is just in the process of moving house, he had his mortgage in principle. One the offer was accepted on house we rang the mortgage company to progress the mortgage application. We were shocked to discover that banks do not accept all conveyancer, they need to be on their approved list, is this right?
Lenders tend to restrict either the type or the number of conveyancing solicitors on their approved list of lawyers. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Windsor conveyancer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Probably not.