I am hoping to move into my new home in Cawthorne next Thursday. My 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 banks 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 Cawthorne.
My lender has recommended solicitors on their panel based in Cawthorne but I would rather instruct a conveyancing lawyer in Cawthorne round the corner to me. Are you able to help?
Far from all Cawthorne conveyancing practices are on all banks conveyancing panel. Do make use of the above search tool to locate a Cawthorne conveyancing firm on the on the lender panel.
I have been on the look out for a leasehold apartment up to £195,000 and identified one round the corner in Cawthorne I like with a park and transport links in the vicinity, however it's only got 51 remaining years left on the lease. There is not much else in Cawthorne in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a mortgage the remaining unexpired lease term will likely be problematic. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of 2 years you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
As co-executor for the will of my father I am disposing of a property in Neath but live in Cawthorne. My conveyancer (approximately 260 kilometers awayhas requested that I execute a stat dec before the transaction finalising. Can you recommend a conveyancing solicitor in Cawthorne who can witness this legal document for me?
strictly speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Normally or notary public or solicitor will suffice regardless of whether they are located in Cawthorne
My wife and I purchased a leasehold house in Cawthorne. Conveyancing and TSB mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Cawthorne who acted for me is not around. Any advice?
First make enquiries of HMLR to be sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Cawthorne conveyancing lawyer to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am the registered owner of a split level flat in Cawthorne, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Similar flats in Cawthorne with over 90 years remaining are worth £201,000. The ground rent is £45 charged once a year. The lease expires on 21st October 2089
You have 64 years remaining on your lease we estimate the price of your lease extension to be between £14,300 and £16,400 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.
Is there a reason that Cawthorne conveyancing fees are higher for leasehold and freehold properties?
There is always more work needed in leasehold conveyancing. Cawthorne has many leasehold properties. There is more hours involved in the purchase: for example, the lease and leasehold information (including current service charge, ground rent and buildings insurance details) obtained from the freeholder or managing agents. There are strict criteria that the lease must meet in order to be acceptable to a mortgage company. If it does not meet these requirements, the lease must be amended, which can involve additional expense for the seller.