Do lenders provide you with an approved list of Thorpe St Andrew conveyancing solicitors? How do you know who is on the HSBC conveyancing panel?

Thorpe St Andrew conveyancing firms themselves provide us confirmation that they are on the HSBC conveyancing panel as opposed to being supplied with a list from HSBC directly.

Should my conveyancer be raising questions about flooding during the conveyancing in Thorpe St Andrew.

Flooding is a growing risk for solicitors dealing with homes in Thorpe St Andrew. There are those who acquire a property in Thorpe St Andrew, fully aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.

Lawyers are not best placed to impart advice on flood risk, however there are a number of checks that may be undertaken by the buyer or on a buyer’s behalf which should give them a better understanding of the risks in Thorpe St Andrew. The standard completed inquiry forms given to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard inquiry of the owner to find out whether the property has historically flooded. If the premises has been flooded in past which is not disclosed by the owner, then a purchaser may issue a compensation claim as a result of such an inaccurate reply. The buyer’s solicitors should also order an environmental search. This should indicate whether there is any known flood risk. If so, further inquiries will need to be initiated.

It has been three months since my purchase conveyancing in Thorpe St Andrew concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. 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 residence 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.

About to purchase a new build apartment in Thorpe St Andrew. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.

Here is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Thorpe St Andrew

Forfeiture - bankruptcy or liquidation must not apply under this provision. Please confirm the Lease plans are architect prepared. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. There must be mutual enforceability of lessee’s covenants. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?

I am attracted to a two maisonettes in Thorpe St Andrew which have in the region of fifty years remaining on the leases. Should I regard a short lease as a deal breaker?

A lease is a right to use the property for a prescribed time frame. As a lease gets shorter the marketability of the lease deteriorates and results in it becoming more expensive to extend the lease. For this reason it is advisable to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on such properties. Lease extension can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this area.

Leasehold Conveyancing in Thorpe St Andrew - A selection of Queries before buying

You should want to discover as much as possible about the company managing the block as they will impact your use and enjoyment of the property. Being a leasehold owner you are frequently in the clutches of the managing agents from a financial perspective and when it comes to day to day matters like the tidiness of the common parts. Enquire of other people if they are happy with their service. In conclusion, investigate as to the dates that the maintenance charges are due to the managing agents and precisely how they are spending that money. Best to be warned if window replacement or some other major work is due shortly to be shared by the tenants and may well dramatically impact the level of the service costs or necessitate a specific invoice. The best form of lease arrangement is where the freehold title is owned by the leaseholders. In this arrangement the tenants benefit from being in charge if their destiny and notwithstanding that a managing agent is usually retained where it is bigger than a house conversion, the managing agent acts for the leaseholders themselves.