Is it necessary to get a chancel search? I am buying a maisonette in Crymych.
The Law Lords decision in Aston Cantlow (PCC) v Wallbank confirmed that chancel repair liability could be enforced. Owners who have bought property prior to 2003 may be totally unaware that a liability exists if a chancel search was not carried out. The solicitor handling your conveyancing will confirm that a chancel search is appropriate.
How does a Help to Buy scheme work for me?
This government-sponsored scheme aims to assist homebuyers with three ways of purchasing a property:
- Help to Buy ISA - if you are a first-time buyer and don’t own any other property (anywhere in the world), and you don’t have another cash ISA opened in the same tax year, when you buy your first home, the solicitor will apply for the government bonus on your behalf when closure of your Home to Buy ISA used to buy the property is confirmed.
- Help to Buy: Equity Loan - if you have no other property and are buying a newly-built home, the government will provide 20% of the cost of the house (up to a maximum of £600,000), leaving you with the saved 5% deposit and a 75% mortgage to cover the remainder. This is open to current homeowners and first-time buyers, and the home cannot be sublet nor can it be used in a part-exchange deal.
- Help to Buy: Shared Ownership - if your household earns less than £80,000, you could be eligible for this scheme, which allows you to buy between 25% and 75% of the home’s value, while the government pays the remainder on which you would then pay rent.
(information retrieved from HM Government’s Help to Buy website on 16 April 2019).
Contact the Money Advice Service, the government’s Help to Buy website, or your local ‘Help to Buy’ agent for more information.
How is contaminated land in Crymych checked?
Many of contaminants can damage land in Crymych. Contaminants like a proximate telecommunications base station and landfill sites will be detailed in an appropriate search.
How can we protect against being gazumped?
The practice of rejecting a previously accepted offer after a second buyer has made a better offer is called gazumping. The chance of getting gazumped exists for almost any purchase. Instructing a law firm early, and even before acceptance of an offer to handle your transaction should help to reduce the likelihood of gazumping.
I am purchasing a modern property. Is it necessary that searches are done?
These searches are a commonly-used set of queries ordered by the property solicitor through local and national authorities, and will only cover the legal aspects of the purchase.
I am interested in purchasing in Crymych. Are there many conservation areas?
Areas deemed to be of historical merit, such as stretches of canals, will be defined as conservation areas. A solicitor will discuss what specific restrictions are in place and be able to advise further.
Should I list my property with more than one estate agent?
The choice is entirely up to you and your specific circumstances. Going with a sole agent is probably the cheapest option (although the reach to buyers is dependent on how many clients are on their books), while multiple agents will be more expensive (but will reach a broader client base).
If you’re looking for a quick sale or the market is rather sluggish, it makes sense to put your property on with a number of agents. If the market is buoyant, it makes more sense to place the property with a sole agent.
Whichever you choose, you should always check the terms and conditions so that you know what service you’re getting for your money and how much it will cost you once the home is sold. You should also understand if there are penalties should you decide to place the property with more or fewer agents later on during the agreement period.