All was ready to complete my purchase in Peacehaven next Thursday. My lawyer now wants me to supply her with evidence 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 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 requirements. These requirements are not specific to conveyancing in Peacehaven.
Completed the sale of my flat in Peacehaven last May but my buyer keeps texting me to moan that her solicitor is waiting to hear from mine. What should have happened following completion?
Post completion of your house sale your lawyer is obliged to deliver the transfer documentation and all of the paperwork to the buyer’s lawyers. If applicable, your lawyer should also confirm that the home loan has been repaid to the purchasers solicitors. There is unlikely to be post completion tasks specific conveyancing in Peacehaven.
I am planning on selling our house in Peacehaven and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. Any high street Peacehaven lawyer would know that there is no such problem. For the life of me I don't know why the buyers are using a factory type conveyancing firm as opposed to a conveyancing solicitor in Peacehaven. Having lived in Peacehaven for 5 years we know that this is a non issue. Do we contact our local Authority to get confirmation that the buyers are looking for.
It sounds as though you may have a conveyancing firm already. What do they say? You should check with 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 life insurance to cover that same illness)
Over the last few months I have been searching for a flat up to £195,000 and found one round the corner in Peacehaven I like with open areas and station in the vicinity, the downside is that it only has 51 years unexpired on the lease. There is not much else in Peacehaven suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you need a mortgage the shortness of the lease will be problematic. Discount the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this matter.
I am a sole trader hoping to take over a lease of a shop on the high street. Can you recommend solicitors offering fixed fees for commercial conveyancing in Peacehaven for under £1,200?
We are happy to recommend firms who host a wealth of experience of commercial conveyancing in Peacehaven, including the disposal and acquisition of businesses as well as simply premises. Whether you are hoping to buy or sell a shop, pub, restaurant, office, retail premises or a whole business we will find you the right firm. As for the charges this will depend on the structure and terms of the deal. Let us have your contact information or telephone us so that we can furnish you with a fixed commercial conveyancing calculation.
Jane (my partner) and I may need to rent out our Peacehaven basement flat for a while due to a career opportunity. We used a Peacehaven conveyancing firm in 2004 but they have closed and we did not think at the time seek any guidance as to whether the lease allows us to sublet. How do we find out?
The lease governs relations between the landlord and you the flat owner; specifically, it will say if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Peacehaven do not prevent an absolute prevention of subletting – such a provision would undoubtedly devalue the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.
Leasehold Conveyancing in Peacehaven - A selection of Queries Prior to Purchasing
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How much is the yearly service fee and ground rent? On the whole the outlay for major works are not included within maintenance charges, albeit that there some managing agents in Peacehaven require tenants to pay into a sinking fund created for the specific purpose of building a fund for larger repairs or maintenance. The majority of Peacehaven leasehold apartments will incur a service charge for the upkeep of the block levied on behalf of the management company. If you buy the flat you will have to meet this liability, usually in instalments accross the year. This could vary from a couple of hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. There will also be a rentcharge to be met annual, this is usually not a large sum, say around £50-£100 but you need to check as occasionally it can be many hundreds of pounds.