Due to move into my new home in New Eltham next Tuesday. My lawyer 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 lender. What does the insurance need 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 instructions. These obligations are not unique to conveyancing in New Eltham.
My uncle informed me that in purchasing a property in New Eltham there may be various restrictions prohibiting external alterations to the property. Is this right?
There are a number of properties in New Eltham which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in New Eltham should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
When it comes to mortgage companies such as Bank of Ireland, do New Eltham lawyers incur a yearly amount to be on the list of approved solicitors?
We are unaware of any lender fees to be on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I have instructed a New Eltham lawyer having made sure that they are on the Barclays conveyancing panel. Does my lawyer arrange the survey of the property?
Barclays will need an independent valuation of the property. Your lawyer will not arrange this. Usually Barclays will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your New Eltham postcode. As you are getting a mortgage with Barclays, you could contact them to see if they have a list of approved surveyors in New Eltham.
Will commercial conveyancing searches reveal impending roadworks that may affect a commercial property in New Eltham?
Its becoming the norm that commercial conveyancing solicitors in New Eltham will perform a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in researching accurate data on highways that impact buildings and development assets in New Eltham. The report sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in New Eltham.
For every commercial conveyancing transaction in New Eltham it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately could result in delays to New Eltham commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not ordered for domestic conveyancing in New Eltham.
I purchased a 4 bedroom Georgian house in New Eltham. Conveyancing practitioner acted for me and Virgin Money. I did a free Land Registry search last week and there are two entries: one for freehold, another for leasehold under the matching address. I thought I was buying a freehold how can I check?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in New Eltham and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the situation with your conveyancing lawyer who conducted the conveyancing.
Planning to complete next month on a ground floor flat in New Eltham. Conveyancing solicitors assured me that they report fully within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in New Eltham should include some of the following:
The landlord’s rights to access the flat. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided. Changes to the flat Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? specifics of the parties to the lease, for example these could be the tennant, head lessor, landlord Repair and maintenance of the flat
I am the registered owner of a basement flat in New Eltham. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the amount due for the purchase of the freehold?
in cases where there is a missing landlord or if there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the LVT to make a decision on the amount due.
An example of a Lease Extension matter before the tribunal for a New Eltham premises is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case related to 1 flat.
I’m about to sell my ground floor apartment in New Eltham.Conveyancing is yet to be initiated however I have just had a yearly maintenance charge invoice – what should I do?
The sensible thing to do is pay the service charge as usual as all rents and maintenance invoices should be apportionedas part of the financial calculations for completion monies, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most managing agents 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