I am hoping to move into my new home in Brunswick Park next Friday. My solicitor now wants me to supply her with proof of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the lender. What does the insurance need to cover?
Any lawyer on acting for lenders 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 requirements are not specific to conveyancing in Brunswick Park.
Is there a reason why leasehold purchase conveyancing in Brunswick Park is more expensive?
The conveyancing charges on a leasehold premises in Brunswick Park is inevitably higher as compared to a freehold acquisition or disposal. This is because there is an amount of additional time necessary in liaising with the freeholder and managing agents to collate the evidence about whether the rent and maintenance charges have been paid and whether there are any large sums expected to be spent in the near future on repairs or maintenance of the building.
It has been four months since my purchase conveyancing in Brunswick Park took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. 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.
What makes your site different to other online quote calculators when it comes to conveyancing in Brunswick Park?
At this site secure an accurate quote from a Solicitor or Licensed Conveyancer that has a full understanding of the issues of your conveyancing in Brunswick Park. As opposed to estate agents and brokerage sites we are not in the business of charging firms a fee if you choose them for your conveyancing in Brunswick Park
I am looking at a couple of maisonettes in Brunswick Park both have in the region of forty five years unexpired on the leases. Will this present a problem?
A lease is a legal document that entitles you to use the property for a period of time. As a lease shortens the saleability of the lease reduces and results in it becoming more costly to extend the lease. This is why it is generally wise to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional help from a solicitor and surveyor with experience in this arena.
I own a ground-floor 1960’s flat in Brunswick Park. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?
Where there is a absentee landlord or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to determine the premium.
An example of a Freehold Enfranchisement decision for a Brunswick Park premises is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case was in relation to 2 flats. The unexpired residue of the current lease was 70.31 years.
Our conveyancer in Brunswick Park has discovered a a problem with the lease for the apartment we are purchasing in Brunswick Park. The other side have suggested title insurance as a solution. We are happy with insurance and will cover the costs. Our solicitor says that as he is on the bank conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is the lender?
Just because you have a mortgage offer from the mortgage company does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Brunswick Park conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the lender are the client. The appropriate lender requirements have to be complied with by the lender conveyancing panel who has to balance acting for you and the mortgage company