Due to complete my purchase in Woburn Sands next Tuesday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the bank. What does the insurance need to cover?

Any lawyer on acting for lenders 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 requirements are not unique to conveyancing in Woburn Sands.

What will a local search tell me about the property I am buying in Woburn Sands?

Woburn Sands conveyancing often starts with the ordering local authority searches directly from your local Authority or via a personal search organisations for example PSG The local search is essential in every Woburn Sands conveyancing purchase; that is if you don’t want any unpleasant once you have moved into your property. The search should provide data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject sections.

Due to the advice of my in-laws I had a survey completed on a house in Woburn Sands ahead of retaining solicitors. I have been told that there is a flying freehold overhang to the house. The surveyor advised that some mortgage companies may refuse to issue a mortgage on this type of home.

It varies from the lender to lender. HSBC has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Woburn Sands. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Woburn Sands to see if the conveyancing will be more expensive.

I need to instruct a conveyancing solicitor for sale conveyancing in Woburn Sands. I have discover a web site which appears to be the ideal solution If it is possible to get all formalities completed via web that would be preferable. Should I be concerned? What are the potential pitfalls?

As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?

I am employed by a long established estate agency in Woburn Sands where we have witnessed a few leasehold sales derailed as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Woburn Sands conveyancing firms. Could you confirm whether the seller of a flat can commence the lease extension formalities for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.

An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

I inherited a 1st floor flat in Woburn Sands, conveyancing having been completed in 1998. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Woburn Sands with over 90 years remaining are worth £197,000. The ground rent is £55 invoiced every year. The lease ends on 21st October 2080

With just 56 years remaining on your lease the likely cost is going to span between £29,500 and £34,000 plus costs.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.