Due to complete my purchase in Brecon Beacons next Monday. 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 lender. 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 UK Finance Lenders’ Handbook conditions. These requirements are not specific to conveyancing in Brecon Beacons.
It is is a decade since I bought my house in Brecon Beacons. Conveyancing lawyers have just been retained on the sale but I can't track down my title deeds. Will this cause complications?
You need not be too concerned. First there is a possibility that the deeds will be with the mortgage company or they may be in the possession of the solicitor who handled your purchase. Secondly in most cases the property will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers obtaining up to date copy of the land registers. Nearly all conveyancing in Brecon Beacons involves registered property but in the unlikely event that your property is unregistered it is more problematic but is not insurmountable.
We just had an offer accepted to purchase with Norwich and Peterborough Building Society. We have called around locally but cant to find a Brecon Beacons conveyancing firm on the Norwich and Peterborough Building Society panel. Please you assist?
Feel free to take advantage of the find a conveyancing panel solicitor tool on this web page. Please choose the lender and type Brecon Beacons or your location and you will be presented with numerous solicitors offices in Brecon Beacons or by proximity to you.
Will my conveyancer be asking questions about flooding during the conveyancing in Brecon Beacons.
The risk of flooding is if increasing concern for conveyancers specialising in conveyancing in Brecon Beacons. There are those who purchase a house in Brecon Beacons, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or dispose of the premises. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Conveyancers are not best placed to impart advice on flood risk, but there are a numerous checks that can be initiated by the purchaser or on a buyer’s behalf which will figure out the risks in Brecon Beacons. The standard property information forms supplied to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a standard question of the owner to find out if the premises has ever been flooded. In the event that flooding has previously occurred and is not revealed by the seller, then a buyer could commence a compensation claim stemming from an inaccurate response. The purchaser’s solicitors will also conduct an enviro report. This should indicate whether there is any known flood risk. If so, additional investigations will need to be carried out.
What are your top tips when it comes to choosing a Brecon Beacons conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for lease extension works (regardless if they are a Brecon Beacons conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggest that you talk with two or three firms including non Brecon Beacons conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be of use:
What volume of lease extensions has the firm carried out in Brecon Beacons in the last 12 months? What are the costs for lease extension conveyancing?
I own a studio flat in Brecon Beacons, conveyancing was carried out 9 years ago. How much will my lease extension cost? Similar flats in Brecon Beacons with an extended lease are worth £196,000. The ground rent is £45 per annum. The lease ceases on 21st October 2083
You have 64 years left to run the likely cost is going to span between £15,200 and £17,600 as well as legals.
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 in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.