I have an AIP. The bank mentioned the home loan came with free conveyancing. Is the implication that I have to appoint their panel solicitor as I would prefer to instruct a high street conveyancing solicitor in Dunnington?
You should check but the chances are that appoint one of their panel lawyers if you accept the "fee-free" offer. Contact the bank to ask if they make available a cash alternative. In the past a few mortgage companies offered a £250 cashback as an alternative in which case that money can go towards your preferred conveyancing solicitor near Dunnington.
Should our conveyancer be making enquiries about flooding as part of the conveyancing in Dunnington.
Flooding is a growing risk for solicitors carrying out conveyancing in Dunnington. Plenty of people will buy a property in Dunnington, completely aware that at some time, it may suffer from flooding. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the premises. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.
Solicitors are not best placed to impart advice on flood risk, however there are a number of checks that can be initiated by the purchaser or by their lawyers which can give them a better appreciation of the risks in Dunnington. The conventional set of information given to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual inquiry of the owner to discover if the property has ever been flooded. In the event that the property has been flooded in past which is not disclosed by the seller, then a purchaser could bring a compensation claim resulting from an incorrect answer. A buyer’s solicitors will also order an enviro search. This should reveal if there is a recorded flood risk. If so, more detailed investigations should be initiated.
How does conveyancing in Dunnington differ for newly converted properties?
Most buyers of new build premises in Dunnington come to us having been asked by the builder to sign contracts and commit to the purchase even before the premises is finished. This is because new home sellers in Dunnington typically buy the land, 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 used to new build conveyancing in Dunnington or who has acted in the same development.