I am hoping to complete my purchase in Brunswick Park next Monday. I have now been asked to send a copy of my building insurance schedule by my solicitor 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?
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 UK Finance Lenders’ Handbook conditions. These requirements are not unique to conveyancing in Brunswick Park.
We are expecting a mortgage offer soon. The lender mentioned the mortgage came with free conveyancing. Does this mean I have to use their panel conveyancer as I would much rather appoint a Brunswick Park based conveyancing firm?
You should check but the the likelihood is that appoint one of their panel lawyers if you accept the "fee-free" offer. Contact the lender and see if they make available a monetary alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor near Brunswick Park.
How does conveyancing in Brunswick Park differ for new build properties?
Most buyers of new build premises in Brunswick Park come to us having been asked by the builder to sign contracts and commit to the purchase even before the house is completed. This is because house builders in Brunswick Park typically purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Brunswick Park or who has acted in the same development.
I opted to have a survey done on a property in Brunswick Park in advance of instructing solicitors. I have been told that there is a flying freehold element to the property. My surveyor has said that some lenders tend refuse to issue a mortgage on this type of house.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Nationwide. Should you wish to call us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Brunswick Park. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Brunswick Park to see if the conveyancing costs will increase in light of this.
Am I best advised to appoint a Brunswick Park conveyancing practitioner based in the area that I am hoping to buy? An old friend can carry out the legal work but her office is 400miles away.
The primary upside of using a high street Brunswick Park conveyancing firm is that you can pop in to execute documents, deliver your identification documents and apply pressure on them if necessary. Having local Brunswick Park know how is a benefit. However it's more important to get someone that will do a good and efficient job. If if people you trust instructed your friend and on the whole were happy that must outweigh using an unfamiliar Brunswick Park conveyancing lawyer just because they are based in the area.
Harry (my fiance) and I may need to rent out our Brunswick Park ground floor flat for a while due to a new job. We used a Brunswick Park conveyancing firm in 2001 but they have closed and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?
Notwithstanding that your last Brunswick Park conveyancing lawyer is no longer around you can check your lease to check if you are permitted to let out the apartment. The accepted inference is that if the deeds are non-specific, subletting is allowed. There may be a precondition that you are obliged to seek permission from your landlord or other appropriate person prior to subletting. The net result is you not allowed to sublet in the absence of first obtaining permission. The consent is not allowed to be unreasonably turned down. If the lease prohibits you from letting out the property you should ask your landlord if they are willing to waive this restriction.
I am the registered owner of a ground floor flat in Brunswick Park. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the amount due for a lease extension?
Where there is a missing freeholder or if there is dispute about what the lease extension should cost, under the relevant legislation it is possible to make an application to the First-tier Tribunal (Property Chamber) to make a decision on the premium.
An example of a Freehold Enfranchisement case for a Brunswick Park residence is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case was in relation to 2 flats. The unexpired lease term was 70.31 years.