Due to complete my purchase in Spondon next Thursday. My conveyancer 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 lender. What does the insurance need to cover?

Any lawyer 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 Part 2 requirements. These requirements are not unique to conveyancing in Spondon.

The Spondon conveyancing firm that just started acting on my purchase in Spondon have suddenly closed. I chose them because I had to have a lawyer on the Lloyds conveyancing panel and my previous Spondon lawyer was not. I sent them a cheque for £250 in advance. What are my options?

If you have an estate agent involved then inform them straight away so that they can let the sellers know that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Lloyds conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help.

I require quick conveyancing in Spondon as I am under an ultimatum to sign on the dotted line inside one month. A home loan is not required. Is it possible to escape the need for conveyancing searches to save fees and time?

As you are not obtaining a mortgage you have the choice not to do searches although no lawyer would advise that you don't. Drawing on years of experience of conveyancing in Spondon the following are examples of issues that can arise and therefore affect future saleability: Enforcement Actions, Overdue Charges, Overdue Grants, Unadopted Roads,...

I have been sourcing a conveyancing solicitor in Spondon for my remortgage. Can I see a firm’s record with the profession’s regulator?

One may read documented Solicitor Regulator Association (SRA) determinations stemming from investigations from 2008 onwards. Go to Check a solicitor's record. For details Pre 2008, or to check a firm's record, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, use +44 (0)121 329 6800. The regulator sometimes monitor telephone calls for training purposes.

In relation to leasehold conveyancing in Spondon what are the most common lease defects?

Leasehold conveyancing in Spondon is not unique. All leases are individual and drafting errors can sometimes mean that certain clauses are not included. The following missing provisions could result in a defective lease:

Repairing obligations to or maintain parts of the building A duty to insure the building

A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , The Royal Bank of Scotland, and Aldermore all have very detailed 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 grant the mortgage, obliging the purchaser to pull out.

I inherited a 2 bed flat in Spondon, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Spondon with an extended lease are worth £197,000. The ground rent is £55 levied per year. The lease expires on 21st October 2080

You have 56 years left to run we estimate the price of your lease extension to range between £29,500 and £34,000 plus costs.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.