Will our solicitor be raising enquiries regarding flooding as part of the conveyancing in Bassaleg.
Flooding is a growing risk for solicitors carrying out conveyancing in Bassaleg. There are those who purchase a house in Bassaleg, completely expectant that at some time, it may suffer from flooding. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Lawyers are not qualified to impart advice on flood risk, however there are a numerous checks that can be initiated by the purchaser or on a buyer’s behalf which should give them a better appreciation of the risks in Bassaleg. The standard property information forms sent to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) incorporates a standard question of the seller to discover if the premises has ever been flooded. If flooding has previously occurred which is not revealed by the owner, then a buyer could bring a claim for damages resulting from an incorrect reply. The purchaser’s solicitors will also order an enviro report. This should reveal if there is a recorded flood risk. If so, additional inquiries will need to be initiated.
How does conveyancing in Bassaleg differ for newly converted properties?
Most buyers of new build property in Bassaleg approach us having been asked by the seller to sign contracts and commit to the purchase even before the premises is completed. This is because developers in Bassaleg usually acquire 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 Bassaleg or who has acted in the same development.
Due to the guidance of my in-laws I had a survey completed on a house in Bassaleg prior to appointing solicitors. I have been advised that there is a flying freehold aspect to the house. Our surveyor has said that some lenders will refuse to give a loan on a flying freehold house.
It varies from the lender to lender. Santander has different instructions from Nationwide. If you contact us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Bassaleg. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Bassaleg to see if the conveyancing costs will increase in light of this.
I am looking to sell my house. My former lawyers have shut. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Bassaleg if that makes a difference.
Do use our search tool to help you choose a solicitor for your conveyancing in Bassaleg. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs smoothly.
My mum and dad are unable to locate their Bassaleg property on the HM Land Registry website. They recall that back in the 70’s when they bought the bungalow there were complications regarding Bassaleg not being identified on some systems.
Almost all premises in Bassaleg should appear. Have you attempted a search to just the postcode. Normally it should identify all the houses and flats within that postcode. Where recorded it will be there with a title number. Where they bought fifty years ago it's conceivable it may be unrecorded. The property could still be revealed but with the title number identified as 'na'. In this scenario you will need to find the original title papers which could be with your parent’s bank.