Should our lawyer be raising questions concerning flooding during the conveyancing in Symonds Yat.

The risk of flooding is if increasing concern for solicitors conducting conveyancing in Symonds Yat. There are those who buy a property in Symonds Yat, 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 obtain a mortgage, suitable building insurance, or dispose of the premises. There are steps that can be taken during the course of a house purchase to forewarn the buyer.

Solicitors are not best placed to offer advice on flood risk, but there are a numerous searches that may be undertaken by the purchaser or by their lawyers which should figure out the risks in Symonds Yat. The conventional set of property information forms given to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard inquiry of the vendor to determine if the premises has historically flooded. In the event that flooding has previously occurred and is not revealed by the owner, then a buyer may commence a legal claim for losses as a result of such an misleading response. A buyer’s lawyers may also conduct an environmental report. This should higlight if there is a recorded flood risk. If so, more detailed inquiries should be carried out.

How does conveyancing in Symonds Yat differ for new build properties?

Most buyers of new build property in Symonds Yat come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is built. This is because builders in Symonds Yat typically buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Symonds Yat or who has acted in the same development.

I am looking for a leasehold apartment up to £235,500 and identified one round the corner in Symonds Yat I like with open areas and station in the vicinity, however it only has 51 years on the lease. I can't really find anything else in Symonds Yat suitable, so just wondered if I would be making a mistake buying a short lease?

Should you require a mortgage the remaining unexpired lease term will likely be an issue. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.

Is it possible to switch conveyancer as I have to choose a firm on the National Westminster Bank conveyancing list. I had appointed a family conveyancing solicitor in Symonds Yat round the corner but the firm is not approved by National Westminster Bank

We will our best to assist in finding you a conveyancing solicitor in Symonds Yat on the National Westminster Bank panel. Please note that the solicitors that we on the directory do not pay us commission if you instruct them and are regulated by the SRA who oversee all conveyancing solicitors in Symonds Yat. In utilising search facility on this website, you can contrast fees for conveyancing solicitors in Symonds Yat and beyond.

What advice can you give us when it comes to finding a Symonds Yat conveyancing practice to deal with our lease extension?

When appointing a conveyancer for your lease extension (regardless if they are a Symonds Yat conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Symonds Yat conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be helpful:

What are the charges for lease extension conveyancing?

Leasehold Conveyancing in Symonds Yat - Examples of Queries before Purchasing

On the whole the cost for major works are not wrapped into the service charges, although a few managing agents in Symonds Yat require tenants to contribute towards a sinking fund and this is used to offset against larger works. It would be wise to find out as much as you can concerning the company managing the building as they will either make living at the property much simpler or uncomfortable. As the owner of a leasehold property you are often in the clutches of the managing agents both financially and when it comes to daily matters like the upkeep of the common parts. Don't be afraid to ask other people whether they are happy with them. On a final note, be sure you understand the dates that you are obliged pay the maintenance charge to the managing agents and precisely what you get for your money. Does the lease contain onerous restrictions?