Should my solicitor be raising enquiries about flooding during the conveyancing in Wingate.

Flooding is a growing risk for conveyancers specialising in conveyancing in Wingate. Plenty of people will acquire a house in Wingate, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.

Lawyers are not qualified to offer advice on flood risk, but there are a number of searches that can be undertaken by the purchaser or on a buyer’s behalf which will give them a better appreciation of the risks in Wingate. The conventional set of 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 determine whether the premises has historically flooded. In the event that the property has been flooded in past and is not revealed by the seller, then a purchaser could bring a claim for damages as a result of such an inaccurate answer. The purchaser’s lawyers may also conduct an enviro report. This should indicate whether there is any known flood risk. If so, additional investigations will need to be conducted.

The deeds to our property are lost. The solicitors who conducted the conveyancing in Wingate 10 years ago no longer exist. What are my next steps?

As long as the title is registered the details of your ownership will be recorded by the Land Registry with a Title Number. It is possible to carry out a search at the Land Registry, locate your property and obtain current copies of the Registered Entries for less than a fiver. Where the title is Leasehold then the Land Registry will usually hold a certified copy of the Registered Lease and again, a copy can be ordered for a small fee.

My husband and I are first time buyers - had an offer accepted, but the property agent has warned us that the seller will only issue a contract if we appoint the agent's preferred conveyancers as they need a ‘quick sale’. My instinct tells me that we should use a high street solicitor with experience of conveyancing in Wingate

We suspect that the owner is not behind this demand. Should the seller desire ‘a quick sale', taking such a hostile approach to a genuine purchaser is likely to cause more damage than good. Speak to the vendors direct and make the point that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)but you will continue to instruct your own,trusted Wingate conveyancing lawyers - as opposed tothose that will earn the negotiator at the agency a introducer fee or hit his conveyancing targets set by senior management.

All being well we will complete the sale of our £200,000 maisonette in Wingate on Tuesday in a week. The management company has quoted £300 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in Wingate?

Wingate conveyancing on leasehold apartments often involves the purchaser’s lawyer submitting questions for the landlord to address. Although the landlord is not legally bound to answer such questions the majority will be content to do so. They are at liberty to invoice a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The management information fee required by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration fees, otherwise the invoice is technically not due. Reality however dictates that you have no choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.

I own a 2 bed flat in Wingate, conveyancing formalities finalised August 2012. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Wingate with over 90 years remaining are worth £227,000. The average or mid-range amount of ground rent is £50 levied per year. The lease terminates on 21st October 2096

With just 71 years unexpired the likely cost is going to range between £9,500 and £11,000 plus legals.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.

We own a leasehold flat in Wingate. Conveyancing was finished in 2011. I have heard that I should not allow the the remaining lease term to get too short. Is this right?

Wingate domestic long term leases are for a fixed period - usually ninety nine years when they commenced. However many appartments in Wingate were constructed or converted in the 70’s80’s and so these leases now have fewer than eighty years unexpired. This may seem like plenty of time but Banks, Building Societies and other mortgage institutions on the whole require leases to have a minimum of 75 years unexpired to be mortgageable. This means that when you come to sell the property you will need to extend the term of your lease if you are nearing seventy five years. To enhance your property value you should be considering whether or not to extend your lease long before you come to sell it. Furthermore advantages to doing so before the lease hits 80 years as when the lease is less than 80 years the amount you have to pay to extend starts to increase.