Due to complete my purchase in Bamber Bridge next Tuesday. My property lawyer now wants me to supply her with proof 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 bank. What does the insurance need to cover?
All property lawyers on acting for lenders 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 Bamber Bridge.
I need some expedited conveyancing in Bamber Bridge as I am faced with a deadline to sign on the dotted line in less than 2 weeks. A mortgage is not required. Is it possible to escape the need for conveyancing searches to save fees and time?
As you are not taking a mortgage you are at liberty not to do searches although no conveyancer would recommend that you don't. Drawing on years of experience of conveyancing in Bamber Bridge the following are examples of what can arise and adversely affect future saleability: Refused Planning Applications, Outstanding Charges, Outstanding Grants, Road Schemes,...
The deeds to our house can not be found. The conveyancers who did the conveyancing in Bamber Bridge 4 years ago no longer exist. What do I do?
You no longer need to hold title original deeds to establish that you are the registered proprietor of land or premises, given that the Land Registry hold details of all registered land or property electronically.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Bamber Bridge. Conveyancing is daunting 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.
Set out below is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Bamber Bridge
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please confirm the Lease plans are surveyor prepared. 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. There must be mutual enforceability of lessee’s covenants. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
My company is looking to take over a lease of a shop on the high street. Can you recommend lawyers offering fixed fees for non-domestic conveyancing in Bamber Bridge for below £2000?
We can recommend firms who host a wealth of experience of commercial conveyancing in Bamber Bridge, including the disposal and acquisition of businesses as well as simply premises. If you are looking to acquire or dispose of a shop, pub, restaurant, office, retail unit or a whole business we will put you in touch with the right solicitor. As for the costs this will depend on the structure and complexity of the proposed transaction. Please provide us with your contact information or phone so as to enable us to provide you with a detailed commercial conveyancing quote.
I am employed by a busy estate agency in Bamber Bridge where we have witnessed a number of leasehold sales jeopardised as a result of short leases. I have received conflicting advice from local Bamber Bridge conveyancing solicitors. Please can you clarify whether the vendor of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I purchased a studio flat in Bamber Bridge, conveyancing having been completed February 2009. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Bamber Bridge with over 90 years remaining are worth £176,000. The ground rent is £50 charged once a year. The lease ends on 21st October 2104
You have 80 years remaining on your lease we estimate the price of your lease extension to range between £7,600 and £8,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.