All was ready to move into my new home in Piccadilly next Thursday. My conveyancing practitioner now wants me to supply her with proof of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the mortgage company. 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 instructions. These obligations are not specific to conveyancing in Piccadilly.

How does conveyancing in Piccadilly differ for newly converted properties?

Most buyers of new build residence in Piccadilly approach us having been asked by the seller to sign contracts and commit to the purchase even before the property is completed. This is because developers in Piccadilly tend to purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Piccadilly or who has acted in the same development.

Yesterday I discovered that there is a flying freehold issue on a property I put an offer in last month in what was supposed to be a straight forward, no chain conveyancing. Piccadilly is where the house is located. Can you shed any light on this issue?

Flying freeholds in Piccadilly are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Piccadilly you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Piccadilly 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 premises.

As co-executor for the will of my father I am disposing of a residence in Swansea but I am based in Piccadilly. My conveyancer (who is 250 miles from merequires that I sign a statutory declaration ahead of the transaction finalising. Can you recommend a conveyancing practitioner in Piccadilly who can witness and place their company stamp on the document?

Technically speaking you are not likely to be required to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will be fine regardless of whether they are based in Piccadilly

What advice can you give us when it comes to appointing a Piccadilly conveyancing practice to deal with our lease extension?

When appointing a solicitor for your lease extension (regardless if they are a Piccadilly conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Piccadilly conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be of use:

How familiar is the practice with lease extension legislation? If they are not ALEP accredited then what is the reason?

We have reached the end of our tether in trying to reach an agreement for a lease extension in Piccadilly. Can this matter be resolved via the Leasehold Valuation Tribunal?

in cases 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 judgment on the amount due.

An example of a Lease Extension decision for a Piccadilly property is Flat 1 3 Upper Belgrave Street in December 2010. The Tribunal determined that the price payablefor the Lease extension in respect of the subject premises was £2,202,007 This case affected 1 flat. The number of years remaining on the existing lease(s) was 21 years.