Should our lawyer be asking questions regarding flooding as part of the conveyancing in Cippenham.

The risk of flooding is if increasing concern for lawyers specialising in conveyancing in Cippenham. There are those who purchase a property in Cippenham, fully aware that at some time, it may suffer from flooding. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or dispose of the property. Steps can be carried out during the course of a house purchase to forewarn the purchaser.

Solicitors are not best placed to offer advice on flood risk, however there are a numerous checks that can be undertaken by the buyer or by their lawyers which should give them a better understanding of the risks in Cippenham. 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 usual inquiry of the owner to discover if the property has historically flooded. In the event that the property has been flooded in past and is not revealed by the seller, then a purchaser may issue a compensation claim as a result of such an inaccurate reply. A buyer’s lawyers may also conduct an environmental report. This should reveal if there is any known flood risk. If so, additional investigations should be made.

I opted to have a survey carried out on a property in Cippenham before retaining conveyancers. I have been told that there is a flying freehold aspect to the house. Our surveyor advised that some banks may not grant a loan on a flying freehold home.

It depends who your proposed lender is. Bank of Scotland has different instructions for example to Halifax. If you e-mail us we can look into this further via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Cippenham. Conveyancing may be slightly more expensive based on your lender's requirements.

My brother has recommend that I appoint his conveyancers in Cippenham. Should I choose my own conveyancer?

There are no two ways about it the best way to find a conveyancing solicitor is to get referrals from friends or relatives who have actually experience in using the conveyancer that you are considering.

I am looking at a couple of apartments in Cippenham which have about 50 years remaining on the lease term. should I be concerned?

There is no doubt about it. A leasehold flat in Cippenham is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the marketability of the premises. The majority of buyers and banks, leases with less than eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Cippenham conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I am the registered owner of a 2 bed flat in Cippenham, conveyancing having been completed May 2012. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Cippenham with an extended lease are worth £191,000. The ground rent is £55 charged once a year. The lease expires on 21st October 2077

With 53 years remaining on your lease we estimate the premium for your lease extension to be between £27,600 and £31,800 as well as costs.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.

I am buying a flat mortgage free. I have provided solicitor with two separate proof of photo identification, bank statement, multiple utility bills. Now he needs a copy from a probate lawyer stating that the money is in order and that it has come from inheritance and not via illegitimate means.

In today’s world you will not be able to complete any Cippenham conveyancing transaction without first providing evidence of your identity to your lawyers. This usually takes the form of a either your passport or driving licence and a utility bill. Remember if you are providing your driving licence as evidence of ID it must be both the paper part and photo card part, one is not acceptable without the other. Proof of your source of funds is required under Money Laundering laws.