All was ready to move into my new home in Abbeymeads next Friday. My conveyancer now wants me to supply her with evidence of content and building insurance for the property as as she informs me that she is duty bound to validate that it is in order for the mortgage company. What does the insurance need to cover?
Any lawyer on acting for mortgage companies would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 requirements. These obligations are not limited to conveyancing in Abbeymeads.
Having sold my house in Abbeymeads last October but our buyer keeps telephoning daily to moan that their solicitor needs to hear from mysolicitor. What should have happened following completion?
Following your disposal your conveyancer is committed to send the transfer documentation and all of the paperwork to the buyer’s conveyancer. Where appropriate, your conveyancer should also evidence that the mortgage has been discharged to the purchasers conveyancers. There are no post completion requirements unique to conveyancing in Abbeymeads.
I have todaybecome aware that Stirling Law have been shut down. They conducted my conveyancing in Abbeymeads for a purchase of a freehold house 18 months ago. How can I establish that my home is registered correctly in the name of the previous owner?
The easiest way to see if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Abbeymeads conveyancing specialists.
I have been on the look out for a ground for flat up to £305k and identified one near me in Abbeymeads I like with a park and station nearby, however it's only got 49 years on the lease. I can't really find anything else in Abbeymeads for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a home loan the shortness of the lease will be problematic. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of 2 years you could ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.
I’m about to sell my ground floor flat in Abbeymeads. Conveyancing has not commenced, but I have recently had a yearly service charge demand – should I leave it to the buyer to sort out?
It best that you discharge the invoice as you normally would as all ground rent and service payments will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I own a garden flat in Abbeymeads, conveyancing was carried out March 1998. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Abbeymeads with a long lease are worth £260,000. The ground rent is £50 per annum. The lease ceases on 21st October 2100
With just 75 years left to run we estimate the premium for your lease extension to range between £8,600 and £9,800 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.
Do I have to attend the offices of the mortgage company conveyancing panel solicitor to sign the legal charge? If so, I will instruct a firm who offer conveyancing in Abbeymeads so that I can pop in to their offices if required.
As opposed to twenty years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Abbeymeads.