All was ready to complete my purchase in Lancing next Friday. My conveyancing practitioner 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 mortgage company. What does the insurance need 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 Lancing.
I purchased a freehold house in Lancing but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Lancing and has limited impact for conveyancing in Lancing but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
What is the difference between a licensed conveyancer and conveyancing solicitor in Lancing
There are many recorded licenced Conveyancers in Lancing and Solicitor firms in Lancing offering conveyancing We would stress that both are supervised by regulatory bodies with both specialising in the legal aspects of transferring property. Both can handle other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
This question may be naive but I am new to the house moving as FTB of a ground floor flat in Lancing. Do I receive the keys to the house on the completion date from my conveyancer? If this is the case, I will instruct a High Street conveyancing solicitor in Lancing?
On the day of completion you do not need to attend the conveyancers office in Lancing. Conveyancing lawyers for you will electronically transfer the completion advance to the vendor’s solicitors, and once they have received this, you should be invited to receive the keys from the Estate Agents and start moving into the property. This tends to happen between 1 and 3pm.
I had an offer accepted on an apartment in Lancing on 3/3/2025, valuation was booked 3 days later, all came back fine. Property lawyer instructed, so the only thing outstanding was my mortgage offer. Having made daily calls to Kent Reliance and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Kent Reliance conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Kent Reliance to deal with your lawyer's application to be on the Kent Reliance conveyancing panel. There's no guarantee that your solicitor will be accepted.
I am close to exchanging contracts on the sale of our property in Lancing and according to the buyers it appears that there is a possibility that the property was built on contaminated land. Any high street Lancing lawyer would know this is not the case. For the life of me I don't know why the buyers used a national conveyancing practice as opposed to a conveyancing solicitor in Lancing. We have lived in Lancing for three years we know of no issue. Should we get in touch with our local Authority to obtain confirmation that there is no issue.
It would appear that you have a conveyancing solicitor currently acting for you. What do they say? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a straight forward, chain free conveyancing. Lancing is where the house is located. What do you suggest?
Flying freeholds in Lancing are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Lancing you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lancing may ascertain 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 property.
I’m about to sell my 2 bed apartment in Lancing. Conveyancing is yet to be initiated, but I have just received a yearly maintenance charge invoice – Do I pay up?
It best that you discharge the service charge as usual because all ground rent and service invoices will be apportioned on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I bought a leasehold flat in Lancing, conveyancing was carried out July 2011. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Lancing with a long lease are worth £206,000. The average or mid-range amount of ground rent is £45 per annum. The lease comes to an end on 21st October 2091
With only 66 years remaining on your lease we estimate the premium for your lease extension to range between £12,400 and £14,200 as well as costs.
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 in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.