All was ready to complete my purchase in Copse Hill next Friday. 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 lender. What risks does the bank expect the insurance to cover?
Any lawyer 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 conditions. These obligations are not limited to conveyancing in Copse Hill.
We see that you have a post code search directory identifying solicitors on the RBS conveyancing panel. Do firms pay you a referral fee if I instruct them for our own conveyancing in Copse Hill?
We are a listing service only for law firms wishing to communicate if they are on the RBS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Copse Hill.
I need some fast conveyancing in Copse Hill as I am under pressure to exchange contracts in less than one month. A mortgage is not required. Can I avoid the conveyancing searches to save money and time?
As you are are a mortgage free purchaser you are at liberty not to do searches although no solicitor would suggest that you don't. With lots of history conveyancing in Copse Hill the following are examples of what can appear and adversely impact future mortgageability: Enforcement Notices, Outstanding Charges, Overdue Grants, Railway Schemes,...
Despite weeks of looking the Title Certificate and documents to my property are lost. The conveyancers who dealt with the conveyancing in Copse Hill 10 years ago have long since closed. Will I be able to sell the house?
As long as you have a registered title the information relating to your proprietorship will be documented by the Land Registry under a Title Number. It is easy to carry out a search at the Land Registry, find your house and order current copies of the property title for a small fee. If the property is Leasehold then the Land Registry will also normally retain a file duplicate of the Registered Lease and again, a copy can be obtained for twenty pounds.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what should have been a quick, chain free conveyancing. Copse Hill is where the house is located. Is there any guidance you can give?
Flying freeholds in Copse Hill are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Copse Hill you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Copse Hill may determine 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 residence.
I am the proprietor of a basement flat in Copse Hill. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the sum due for a lease extension?
Where there is a absentee freeholder or where there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the LVT to determine the sum to be paid.
An example of a Lease Extension decision for a Copse Hill property is 83 Balvernie Grove in February 2012. The Tribunal assessed the price to be paid by the leaseholder to the freeholder for the lease extension pursuant to section 48 of the Leasehold Reform Housing & Urban Development Act 1993 should be£16,603.00 This case was in relation to 1 flat. The unexpired term was 69.32 years.
What are the common problems that you encounter in leases for Copse Hill properties?
There is nothing unique about leasehold conveyancing in Copse Hill. Most leases are drafted differently and legal mistakes in the legal wording can result in certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:
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A provision to repair to or maintain elements of the premises Clauses dealing with recovering service charges for expenditure on the building or common parts.
A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Leeds Building Society, and TSB all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the purchaser to withdraw.