All was ready to move into my new home in Royton next Monday. My lawyer now wants me to supply her with evidence of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the mortgage company. What risks does the lender expect the insurance 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 Part 2 instructions. These obligations are not specific to conveyancing in Royton.
Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Royton. My lender is Chelsea Building Society
Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 8/1/2025, the requirements read as follows :
What will a local search reveal about the property I am buying in Royton?
Royton conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search organisations for instance PSG The local search is essential in every Royton conveyancing purchase; that is if you don’t want any nasty once you have moved into your property. The search should provide information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic areas.
five months have elapsed following my purchase conveyancing in Royton took place. I have checked the Land Registry site which shows that I paid £175,000 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 premises 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.
How does the Landlord & Tenant Act 1954 impact my business property in Royton and how can you help?
The 1954 Act provides a safeguard to commercial tenants, granting the right to make a request to court for a new lease and continue in occupation at the end of the lease term. There are limited grounds that a landlord can refuse a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing practices who use the act to your advantage and assist with commercial conveyancing in Royton
I am looking at a couple of apartments in Royton both have about forty five years left on the leases. Will this present a problem?
There are plenty of short leases in Royton. The lease is a right to use the property for a prescribed time frame. As a lease shortens the value of the lease deteriorates and results in it becoming more costly to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this area.
Royton Leasehold Conveyancing - A selection of Queries Prior to Purchasing
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Who are the managing agents? Does the lease include onerous restrictions? How many years are left on the lease?