I am hoping to move into my new home in Ashford Kent next Monday. My solicitor 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 mortgage company. 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 Part 2 instructions. These obligations are not specific to conveyancing in Ashford Kent.
What is the first thing I need to know about purchase conveyancing in Ashford Kent?
Not many law firms shout this from the rooftops but conveyancing in Ashford Kent or throughout Kent is an adversarial experience. Put another way, when it comes to conveyancing there is plenty of room for conflict between you and others involved in the ownership transfer. E.g., the vendor, selling agent and on occasion a lender. Selecting a lawyer for your conveyancing in Ashford Kent is a critical decision as your conveyancer is your adviser, and is the ONLY party in the legal process whose responsibility is to look after your best interests and to protect you.
There is a definite ongoing adversarial element to conveyancing- someone has to be blamed for the process being so protracted. You should always trust your conveyancer ahead of the other parties when it comes to the legal assignment of property.
We are buying a property and the conveyancer has raised the issue of Chancel Repair to which the house could be liable given it’s proximity to the area of such a church. He has recommended insurance. Is this really warranted for conveyancing in Ashford Kent
Unless a previous acquisition of the premises took place post 12 October 2013 you may assume that solicitors conducting conveyancing in Ashford Kent to continue to recommend a chancel search and or insurance against a claim.
Me and my brother have a terraced Edwardian property in Ashford Kent. Conveyancing lawyer acted for me and Yorkshire Building Society. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, another for leasehold under the matching address. I'd like to know for sure, how can I find out??
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Ashford Kent and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the situation with your conveyancing solicitor who completed the work.
I opted to have a survey done on a house in Ashford Kent in advance of instructing solicitors. I have been informed that there is a flying freehold aspect to the property. The surveyor has said that some mortgage companies tend refuse to grant a loan on such a premises.
It varies from the lender to lender. Santander has different instructions from Birmingham Midshires. Should you wish to call us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Ashford Kent. Conveyancing will be smoother if you use a solicitor in Ashford Kent especially if they are accustomed to such properties in Ashford Kent.
Last June I purchased a leasehold house in Ashford Kent. Do I have any liability for service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Ashford Kent Leasehold Conveyancing - Sample of Questions you should ask Prior to Purchasing
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Where a Ashford Kent lease has no more than 80 years it will impact the salability of the apartment. It is worth checking with your mortgage company that they are content with residual term of the lease. A short lease means that you will most likely require a lease extension at some point and it is worth discovering how much this will be. For most Ashford Kentlease extensions you would be be obliged to have been the owner of the residence for a couple of years before you are eligible to extend the lease. The best form of lease arrangement is if the freehold reversion is owned by the leaseholders. In this situation the tenants have control and even though a managing agent is usually employed if the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves. In the main the outlay for major works tend not to be included within service charges, albeit that some managing agents in Ashford Kent require tenants to contribute towards a sinking fund created for the specific intention of establishing a fund for major repairs or maintenance.