Why is leasehold purchase conveyancing in Johnstown is more expensive?

The conveyancing charges on a leasehold premises in Johnstown is inevitably higher when contrasted to a freehold transaction. This is due to the supplemental investigations required in communicating with the landlord and managing agents to collate the evidence about whether the rent and service fee have been cleared and whether there are any major works due in the near future on repairs or maintenance of the block.

Should our solicitor be raising questions regarding flooding as part of the conveyancing in Johnstown.

The risk of flooding is if increasing concern for conveyancers dealing with homes in Johnstown. Some people will purchase a house in Johnstown, completely expectant that at some time, it may be flooded. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or sell the premises. Steps can be carried out during the course of a property purchase to forewarn the purchaser.

Lawyers are not qualified to offer advice on flood risk, however there are a various searches that can be undertaken by the purchaser or by their solicitors which should give them a better appreciation of the risks in Johnstown. The standard information sent to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a usual question of the seller to determine if the property has suffered from flooding. If the property has been flooded in past which is not notified by the owner, then a purchaser may commence a claim for damages stemming from an inaccurate answer. A buyer’s conveyancers should also carry out an enviro report. This should reveal if there is a recorded flood risk. If so, more detailed investigations should be initiated.

I have recentlybeen informed that Stirling Law have closed. They conducted my conveyancing in Johnstown for a purchase of a leasehold apartment 10 months ago. How can I check that the property is registered correctly in the name of the previous owner?

The quickest method to check if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Johnstown conveyancing specialists.

I'm purchasing a new build house in Johnstown with a mortgage from Accord Mortgages Ltd. The sellers would not reduce the price so I negotiated 6k of additionals instead. The sale representative told me not reveal to my lawyer about this side-deal as it would put at risk my mortgage with the lender. Is this normal?.

All lenders require a Disclosure of Incentives Form from the developer 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.

I've recently found out that there is a flying freehold element on a property I put an offer in last month in what should have been a quick, no chain conveyancing. Johnstown is the location of the property. Can you offer any guidance?

Flying freeholds in Johnstown are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Johnstown you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Johnstown 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.