Should my lawyer be making enquiries about flooding as part of the conveyancing in Mid Wales.

Flooding is a growing risk for conveyancers specialising in conveyancing in Mid Wales. There are those who buy a property in Mid Wales, fully expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or dispose of the premises. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.

Lawyers are not best placed to impart advice on flood risk, however there are a numerous searches that may be undertaken by the buyer or on a buyer’s behalf which will figure out the risks in Mid Wales. The conventional set of property information forms sent to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual question of the seller to discover if the property has suffered from flooding. In the event that the premises has been flooded in past and is not revealed by the seller, then a buyer may issue a claim for damages stemming from an misleading answer. A purchaser’s solicitors may also commission an environmental search. This should disclose if there is any known flood risk. If so, more detailed investigations will need to be made.

I am buying my first flat in Mid Wales with a mortgage from Alliance & Leicester . The sellers refused to reduce the price so I negotiated 6k of extras instead. The house builders rep suggested that I not to tell my lawyer about the side-deal as it could adversely affect my loan with the lender. Should I keep quiet?.

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.

Yesterday I discovered that there is a flying freehold issue on a property I put an offer in last month in what should have been a quick, chain free conveyancing. Mid Wales is the location of the property. Is there any guidance you can impart?

Flying freeholds in Mid Wales are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Mid Wales you must be sure that your lawyer goes 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 Mid Wales may determine 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 do I use the search app to select a conveyancing lawyer in Mid Wales on the panel for my mortgage?

First select a mortgage company such as Barclays , Barnsley Building Society or Clydesdale then choose your preferred area such as Mid Wales. Conveyancing organisations in Mid Wales and across England and Wales will then be listed.

I work for a long established estate agent office in Mid Wales where we have witnessed a number of flat sales put at risk due to leases having less than 80 years remaining. I have received inconsistent advice from local Mid Wales conveyancing firms. Could you shed some light as to whether the owner of a flat can instigate the lease extension process for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Leasehold Conveyancing in Mid Wales - A selection of Questions you should consider before Purchasing

The best form of lease structure is where the freehold title is owned by the leaseholders. In this situation the leaseholders enjoy control and notwithstanding that a managing agent is usually retained where it is larger than a house conversion, the managing agent employed by the leaseholders. Who is in charge of the building? Are there any major works on the horizon that will likely add a premium to the service charges?