Due to move into my new home in Shrivenham next Tuesday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the lender. What does the insurance need 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 conditions. These requirements are not limited to conveyancing in Shrivenham.
It has been three months since my purchase conveyancing in Shrivenham completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Just had an offer accepted on a new build flat in Shrivenham. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Shrivenham
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Forfeiture - bankruptcy or liquidation must not apply under this provision. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
I am 14 days into a leasehold purchase having been directed to conveyancers by the selling agent to carry out the conveyancing in Shrivenham. I am not happy. Can you help me find new conveyancers?
They would have to be very bad to suggest diss instructing them. Has your mortgage offer been generated? If so you must make them aware of the new conveyancer and have the mortgage documents are re-sent. Your solicitor ideally needs to be on the banks approved list to avoid escalating charges and complications. So that should be your first question of the new conveyancers. Our find a solicitor tool should assist you in finding a lender approved conveyancer for your home move in Shrivenham
Having checked my lease I have discovered that there are only Fifty years unexpired on my flat in Shrivenham. I now want to extend my lease but my freeholder is can not be found. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. However, you will be required to prove that you have used your best endeavours to track down the freeholder. In some cases a specialist would be helpful to carry out a search and to produce a report to be used as evidence that the landlord can not be located. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s disappearance and the application to the County Court covering Shrivenham.
I inherited a 2 bed flat in Shrivenham, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Shrivenham with over 90 years remaining are worth £185,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease finishes on 21st October 2084
With only 60 years unexpired we estimate the premium for your lease extension to range between £20,000 and £23,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.
The property lawyers handling our conveyancing in Shrivenham has sent papers to review that indicate that the land is unregistered with epitome documents. Is it not the case that all houses in Shrivenham are registered?
Although the vast majorities of properties in Shrivenham are now registered with HM Land Registry there are still some that are unregistered. Any property in Shrivenham that has been purchased since the late 1980’s will have been registered at the Land Registry under the compulsory ‘first registration’ scheme. However, if a Shrivenham property has not changed hands in that time then it’s likely the old fashioned title deeds will be the only evidence of ownership.Plenty of Shrivenham conveyancing solicitors should be capable of dealing with such matters but in the event that uncertainty exists the usual guidance nowadays is for the vendor’s solicitor to undertake the registration formalities first and subsequently deal with the dispose of the property to the purchaser - this will have a knock on effect to result in a prolonged transaction.