I am hoping to move into my new home in Basingstoke next Friday. My conveyancer now wants me to supply her with proof of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the lender. What risks does the lender expect the insurance 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 conditions. These obligations are not specific to conveyancing in Basingstoke.
Will my conveyancing lawyers need to check that the building insurance when buying a house in Basingstoke. My lender is Platform
Platform have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 1/3/2025, the requirements read as follows :
What is the difference between a licensed conveyancer and conveyancing solicitor in Basingstoke
Two types of professional can do conveyancing in Basingstoke namely CLC regulated conveyancers or solicitors. The two can administer the legal services that you need to complete the disposal or purchase of property. Both are required to conduct Basingstoke conveyancing to the same standards and guidelines so you may be safe in the knowledge that your conveyancing will be professionally conducted and that all requisite procedures will be correctly taken.
I am assisting my niece sell her property in Basingstoke. Will the conveyancer arrange the energy assessment or do I organise this?
Following the abolition of Home Packs, EPC’s was left as a required part of selling a property. An energy performance certificate should be to hand in advance of the property being marketed. It is not a task that conveyancers ordinarily organise. Where you are instructing a Basingstoke conveyancing solicitor they might be able to arrange energy assessments due to their relationships with long established Basingstoke providers
Completion of my remortgage has taken place for my property in Basingstoke. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Most banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Department at head office. We understand that complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
I've recently found out that there is a flying freehold element on a property I have offered on a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. Basingstoke is the location of the property. What do you suggest?
Flying freeholds in Basingstoke are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Basingstoke 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 Basingstoke 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 premises.
I am a negotiator for a long established estate agent office in Basingstoke where we see a number of leasehold sales derailed as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Basingstoke conveyancing solicitors. Can you confirm whether the seller of a flat can instigate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
An alternative approach is 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 buyer.
I am the registered owner of a studio flat in Basingstoke, conveyancing was carried out 3 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Basingstoke with an extended lease are worth £170,000. The ground rent is £50 charged once a year. The lease terminates on 21st October 2103
With just 78 years remaining on your lease we estimate the premium for your lease extension to span between £7,600 and £8,800 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.
Are the Basingstoke conveyancing lawyers identified as being on the bank conveyancing panel, together with their details provided by the mortgage company?
Basingstoke law firm practices and firms conducting conveyancing in Basingstoke themselves provide us confirmation that they are on the bank conveyancing panel as opposed to being supplied with a list from the mortgage company directly.