The housing market in Lincolnshire is hotting up. What can I do to quicken up the legal process?

Where the seller is applying a tight deadline to exchange we would recommend that your solicitor is familiar with the area as they will benefit local contacts and insight. It is possible that they would have conducted previoushomes in the same neighbourhood. Therefore consider using a Lincolnshire conveyancing solicitor. In addition, be sure that the lawyer is on the member panel. It is said that 18% of Lincolnshire conveyancing deals are frustrated or jeopardised after discovering a buyer’s solicitor was not on their mortgage lender’s panel. In many cases this discovery resulted in the home move being held up by as much as 21 days. It is believed that this issue impacts approximately 100,000 home moves every year. Most Lincolnshire conveyancing firms can not represent certain mortgage companies so do check at the outset.

It is a dozen years since I purchased my property in Lincolnshire. Conveyancing lawyers have now been retained on the sale but I am unable to find the title documents. Is this a problem?

Don’t worry too much. First there is a possibility that the deeds will be with your lender or they may still be with the solicitor who oversaw the purchase. Secondly in all probability the title will be recorded at the land registry and you will be able to prove you own the property by your conveyancing solicitors acquiring current official copies of the land registers. The vast majority of conveyancing in Lincolnshire relates to registered property but in the unlikely event that your home is unregistered it adds to the complexity but is not insurmountable.

Will our conveyancer be making enquiries about flooding during the conveyancing in Lincolnshire.

Flooding is a growing risk for lawyers carrying out conveyancing in Lincolnshire. There are those who acquire a house in Lincolnshire, fully aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a property 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 property purchase to forewarn the purchaser.

Solicitors are not best placed to offer advice on flood risk, however there are a various searches that can be carried out by the buyer or by their conveyancers which should figure out the risks in Lincolnshire. The conventional set of property information forms supplied to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual question of the seller to determine if the property has historically flooded. If the residence has been flooded in past which is not notified by the vendor, then a buyer could commence a compensation claim stemming from an incorrect response. A buyer’s conveyancers will also conduct an environmental report. This should reveal whether there is any known flood risk. If so, additional inquiries should be initiated.

five months have gone by following my purchase conveyancing in Lincolnshire completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

I am looking at a two apartments in Lincolnshire which have approximately forty five years remaining on the lease term. should I be concerned?

There are plenty of short leases in Lincolnshire. The lease is a right to use the premises for a period of time. As a lease shortens the marketability of the lease reduces and it becomes more expensive to acquire a lease extension. This is why it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this area.

Lincolnshire Leasehold Conveyancing - Sample of Questions you should consider before buying

Be sure to find out if the the lease contains any unreasonable restrictions in the lease. For example plenty of leases prohibit pets being allowed in in a block in Lincolnshire. If you like the propertyin Lincolnshire however your cat is not allowed to make the move with you then you have a very hard decision. Is the freehold reversion owned jointly by the leaseholders?