I am hoping to complete my purchase in Raunds next Tuesday. 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 does the insurance need to cover?
All property lawyers 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 UK Finance Lenders’ Handbook instructions. These requirements are not specific to conveyancing in Raunds.
My wife and I are downsizing from our home in Raunds and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. A local conveyancer would know this is not the case. It does beg the question why the buyers instructed a national conveyancing firm as opposed to a conveyancing solicitor in Raunds. We have lived in Raunds for six years we know that this is a non issue. Do we get in touch with our local Authority to get clarification that the buyers are looking for.
It would appear that you have a conveyancing solicitor currently acting for you. Are they able to advise? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
I acquired my home on 5 November and my personal details are still not on the land registry website. Need I be worried? My conveyancing solicitor in Raunds said it should be registered in less than a month. Are titles in Raunds uniquely lengthy to register?
There is nothing unique when it comes to conveyancing in Raunds registration formalities. As opposed to being determined by geographic area, timescales can adjust depending on who lodges the application, whether it is in order and if the Land registry have to notify any third persons or bodies. At present in the region of three quarters of submission are fully dealt with within 12 days but occasionally there can be longer delays. Registration is effected after the new owner has moved in to the property thus an expedited registration is not typically top priority yet where there is a degree of urgency associated with the registration then you or your solicitor should communicate with the Registry to express the reasoning for an expedited registration.
I am buying a new build flat in Raunds. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Raunds
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Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? There must be mutual enforceability of lessee’s covenants. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
I've recently found out that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a simple, no chain conveyancing. Raunds is the location of the property. Can you offer any guidance?
Flying freeholds in Raunds are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Raunds you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Raunds may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
All being well we will complete the disposal of our £225,000 maisonette in Raunds in 10 days. The managing agents has quoted £336 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Raunds?
Raunds conveyancing on leasehold flats nine out of ten times necessitates fees being raised by management companies :
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Addressing pre-exchange enquiries
Where consent is required before sale in Raunds
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Raunds Leasehold Conveyancing - Sample of Queries Prior to Purchasing
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For most Raunds leaseholds the cost for major works tend not to be included within maintenance charges, although a few managing agents in Raunds require leasehold owners to contribute towards a sinking fund and this is used to offset against major repairs or maintenance. What is the annual maintenance fee and ground rent?