I am hoping to complete my purchase in Congleton next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the lender. What does the insurance need to cover?
All property lawyers on acting for banks 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 instructions. These requirements are not unique to conveyancing in Congleton.
As someone unfamiliar with the Congleton conveyancing process what’s the number one tip you can impart for the ownership transfer in Congleton
Not many law firms shout this from the rooftops but conveyancing in Congleton and elsewhere in Cheshire is an adversarial process. In other words, when it comes to conveyancing there is plenty of opportunity for friction between you and others involved in the legal transfer of property. E.g., the seller, property agent and sometimes your lender. Choosing a law firm for your conveyancing in Congleton should not be taken lightly as your conveyancer is your adviser, and is the ONLY party in the process whose interest is to protect your legal interests and to keep you safe.
There is a definite emergence in the "blame" culture- someone has to be at fault for the process being so protracted. We recommend that you your first instinct should be to trust your conveyancer ahead of all other parties when it comes to the legal transfer of property.
Are there restrictive covenants that are commonly identified as part of conveyancing in Congleton?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Congleton. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I have been on the look out for a flat up to £195,000 and identified one round the corner in Congleton I like with open areas and railway links in the vicinity, the downside is that it only has 51 years on the lease. There is not much else in Congleton suitable, so just wondered if I would be making a grave error buying a short lease?
If you need a mortgage the remaining unexpired lease term will likely be an issue. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of twenty four months you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
I have just appointed agents to market my basement apartment in Congleton. Conveyancing solicitors are to be appointed soon, but I have just received a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is pay the maintenance contribution as normal because all ground rent and service payments should be apportioned as part of the financial calculations for completion monies, 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. This will smooth the conveyancing process.
Leasehold Conveyancing in Congleton - A selection of Queries Prior to buying
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The prefered form of lease arrangement is a share of the freehold. In this arrangement the tenants have being in charge if their destiny and notwithstanding that a managing agent is usually retained where the building is bigger than a house conversion, the managing agent is directed by the tenants. What is the maintenance charge and ground rent on the property? The answer will be useful as a) areas could cause problems in the building as the communal areas may begin to deteriorate if services remain unpaid b) if the leaseholders have a dispute with the running of the building you will want to have all the details
Can you set out the scope of conveyancing supplied by Congleton conveyancing organisations?
Almost all Congleton conveyancing companies tend to handle a number of services to residential and agricultural land proprietors, vendors, purchasers, freeholders and tenants such as:
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Home sale conveyancing in Congleton or elsewhere in the country
Residential purchase conveyancing in Congleton and throughout England and Wales
Islamic Compliant Finance including sales, purchases and refinances Resolving boundary disputes between neighbours Holiday and buy-to-let purchases Congleton conveyancing for Buying off mortgagees in possession in and outside of Congleton