All was ready to move into my new home in Dagenham next Monday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the bank. What risks does the lender expect the insurance to cover?
Any lawyer 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 UK Finance Lenders’ Handbook requirements. These obligations are not unique to conveyancing in Dagenham.
It is a dozen years since I purchased my home in Dagenham. Conveyancing lawyers have recently been appointed on the sale but I am unable to locate my deeds. Is this a major issue?
You need not be too concerned. Firstly the deeds may be retained by your lender or they could be in the possession of the solicitor who oversaw the purchase. Secondly the chances are that the property will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing solicitors obtaining up to date copy of the land registers. Almost all conveyancing in Dagenham relates to registered property but in the unlikely event that your property is unregistered it adds to the complexity but is not insurmountable.
Should our conveyancer be making enquiries about flooding as part of the conveyancing in Dagenham.
The risk of flooding is if increasing concern for solicitors conducting conveyancing in Dagenham. Some people will acquire a property in Dagenham, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or sell the property. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.
Conveyancers are not qualified to offer advice on flood risk, but there are a numerous checks that can be initiated by the purchaser or on a buyer’s behalf which can figure out the risks in Dagenham. The conventional set of information supplied to a buyer’s lawyer (where the Conveyancing Protocol is adopted) includes a usual question of the owner to determine whether the premises has ever been flooded. In the event that the premises has been flooded in past and is not disclosed by the owner, then a buyer could commence a claim for damages stemming from an misleading answer. A purchaser’s solicitors should also commission an environmental report. This will reveal whether there is a recorded flood risk. If so, further investigations will need to be initiated.
The deeds to our home can not be found. The lawyers who did the conveyancing in Dagenham 5 years ago no longer exist. What do I do?
Gone are the days when you need to have the physical original deeds to evidence that you are the registered proprietor of land or property, as the Land Registry have everything they need in a digital format.
My husband and I are novice buyers - agreed a price, but the selling agent advised that the owners will only move forward if we use their preferred lawyers as they need an ‘expedited deal’. My instinct tells me that we should use a family solicitor who is accustomed to conveyancing in Dagenham
It is highly unlikely the owners are driving this. Should the seller desire ‘a quick sale', taking such a hostile approach to a genuine buyer is is going to put the whole deal at risk. Try to communicate with the vendors directly and explain that (a)you are keen to buy (b)you are ready to go, with finances arranged © you do not need to sell (d) you wish to move quickly (e)but you will continue to instruct your own,trusted Dagenham conveyancing lawyers - not the ones that will provide their estate agent a commission or meet his conveyancing figures demanded by corporate headquarters.
I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have since been informed that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Dagenham. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Dagenham ?
The majority of houses in Dagenham are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Dagenham in which case you should be looking for a Dagenham conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’spermission to conduct alterations. You may also be required to pay a service charge towards the maintenance of the estate where the house is part of an estate. Your solicitor should report to you on the legal implications.
Having spent years of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Dagenham. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
if there is a missing freeholder or if there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to decide the amount due.
An example of a Lease Extension decision for a Dagenham flat is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case related to 1 flat. The unexpired lease term was 61.36 years.