I am hoping to complete my purchase in Tonbridge 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 mortgage company. What does the insurance need to cover?
Any lawyer 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 requirements. These requirements are not limited to conveyancing in Tonbridge.
Is there a reason why leasehold purchase conveyancing in Tonbridge costs more?
The conveyancing fees on a leasehold property in Tonbridge is often higher when contrasted to a freehold transaction. This is because there is an amount of extra investigations necessary in liaising with the freeholder and managing agents to collate the information concerning whether the rent and service fee have been discharged and whether there are any major works due in the near future on repairs or maintenance of the block.
Do commercial conveyancing searches reveal proposed roadworks that could affect a commercial property in Tonbridge?
Many commercial conveyancing solicitors in Tonbridge will perform a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in Tonbridge. The search result provides definitive data 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 Tonbridge.
For each commercial conveyancing transaction in Tonbridge it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately can result in delays to Tonbridge commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not carried out for domestic conveyancing in Tonbridge.
The estate agent has sent us the confirmation of our purchase of a new build flat in Tonbridge. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Tonbridge
Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Forfeiture - bankruptcy or liquidation must not apply under this provision. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please confirm the Lease plans are architect prepared.
Due to the guidance of my in-laws I had a survey completed on a property in Tonbridge ahead of instructing lawyers. I have been advised that there is a flying freehold aspect to the house. The surveyor has said that some mortgage companies may not grant a loan on this type of property.
It depends who your proposed lender is. Santander has different instructions from Nationwide. Should you wish to telephone us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Tonbridge. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Tonbridge to see if the conveyancing will be more expensive.
Estate agents have just been given the go-ahead to market my basement flat in Tonbridge.Conveyancing is yet to be initiated but I have just had a half-yearly service charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should pay the invoice as you normally would given that all rents and service charges should be apportionedon completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice 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