Will our conveyancer be asking questions concerning flooding as part of the conveyancing in Lifton.
The risk of flooding is if increasing concern for solicitors dealing with homes in Lifton. Some people will purchase a house in Lifton, fully aware that at some time, it may suffer from flooding. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Conveyancers are not qualified to impart advice on flood risk, but there are a numerous checks that can be carried out by the purchaser or on a buyer’s behalf which should give them a better appreciation of the risks in Lifton. The conventional set of completed inquiry forms given to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the seller to find out whether the property has ever been flooded. If flooding has previously occurred which is not disclosed by the seller, then a buyer may issue a compensation claim resulting from an incorrect answer. A purchaser’s conveyancers should also carry out an enviro report. This will higlight if there is any known flood risk. If so, additional inquiries should be initiated.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what should have been a straight forward, chain free conveyancing. Lifton is where the house is located. What do you suggest?
Flying freeholds in Lifton are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Lifton you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lifton 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 residence.
How easy is it to transfer to a new conveyancer as I need to instruct one who is on the Virgin Money conveyancing panel. I was using a high street conveyancing solicitor in Lifton five minutes from me but he is not approved by Virgin Money
It would be our pleasure to assist you find a conveyancing solicitor in Lifton on the Virgin Money panel. Please note that the conveyancers that we work with do not pay us a referral fee if you instruct them and are fully regulated by the SRA who oversee all conveyancing solicitors in Lifton. In utilising search facility on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Lifton.
There are only 62 years remaining on my flat in Lifton. I now want to get lease extension but my freeholder is absent. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to prove that you or your lawyers have done all that could be expected to track down the lessor. On the whole a specialist would be useful to try and locate and to produce a report which can be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s disappearance and the application to the County Court overseeing Lifton.
I am the registered owner of a leasehold flat in Lifton, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Lifton with over 90 years remaining are worth £195,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease finishes on 21st October 2089
With just 64 years remaining on your lease the likely cost is going to span between £14,300 and £16,400 plus legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.
We are in the process of a leasehold sale of a flat in Lifton. Conveyancing is fine but we have been asked to pay an extortionate amount from the landlord. To date we have paid £275 for a leasehold management information and then another £117.20 for supplemental queries supplied by the purchaser's conveyancer.
Your lawyer will not have any sway over the level of the bill for this information but the average costs for the information for Lifton leasehold property is £350. For Lifton conveyancing transactions it is customary for the vendor to cover the costs. The landlord or their agents are under no legal obligation to answer these questions although many will agree to do so - albeit often at high prices out of proportion to the work involved. Unfortunately there is no legislation that requires capped fees for administrative tasks. Neither is there any statutory time frame by which they are obliged to issue answers.