Due to move into my new home in Axmouth and Branscombe next Friday. My conveyancing practitioner 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 bank 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 conditions. These requirements are not limited to conveyancing in Axmouth and Branscombe.
What is the first thing I need to know regarding purchase conveyancing in Axmouth and Branscombe?
Not many law firms or advisers will tell you this but conveyancing in Axmouth and Branscombe or throughout England and Wales is an adversarial process. Put another way, when it comes to conveyancing there exists plenty of opportunity for conflict between you and others involved in the ownership transfer. For instance, the seller, estate agent and even potentially your mortgage company. Appointing a lawyer for your conveyancing in Axmouth and Branscombe is a critical decision as your conveyancer is your adviser, and is the ONLY person in the transaction whose role it is to protect your best interests and to protect you.
There is a distinct ongoing adversarial element to conveyancing- someone has to be at fault for the process being so protracted. We recommend that you must always trust your conveyancer above the other players in the home moving process.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a simple, chain free conveyancing. Axmouth and Branscombe is the location of the property. What do you suggest?
Flying freeholds in Axmouth and Branscombe are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Axmouth and Branscombe you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Axmouth and Branscombe may decide 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.
In my capacity as executor for the will of my grandmother I am disposing of a residence in Cardiff but reside in Axmouth and Branscombe. My lawyer (approximately 300 kilometers from meneeds me to sign a statutory declaration prior to completion. Can you recommend a conveyancing lawyer in Axmouth and Branscombe to attest this legal document for me?
strictly speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Normally any notary public or solicitor will be fine regardless of whether they are Axmouth and Branscombe based
Back In 2007, I bought a leasehold flat in Axmouth and Branscombe. Conveyancing and Godiva Mortgages Ltd mortgage are in place. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Axmouth and Branscombe who previously acted has now retired. Any advice?
First contact the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Axmouth and Branscombe conveyancing solicitor to do this as it can be done on-line for £3. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I acquired a basement flat in Axmouth and Branscombe, conveyancing having been completed May 1998. How much will my lease extension cost? Similar flats in Axmouth and Branscombe with an extended lease are worth £181,000. The ground rent is £55 per annum. The lease terminates on 21st October 2075
With only 51 years remaining on your lease we estimate the premium for your lease extension to range between £30,400 and £35,200 as well as legals.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.