Due to complete my purchase in Broadclyst next Friday. 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 requirements. These requirements are not specific to conveyancing in Broadclyst.

Are there restrictive covenants that are commonly picked up as part of conveyancing in Broadclyst?

Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Broadclyst. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

I'm buying a new build house in Broadclyst with a mortgage from Britannia. The builders refused to reduce the price so I negotiated 6k of additionals instead. The sale representative advised me not reveal to my lawyer about this extras as it would affect my loan with Britannia. Is this normal?.

All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

I've recently found out that there is a flying freehold issue on a property I put an offer in last month in what was supposed to be a quick, no chain conveyancing. Broadclyst is where the house is located. Is there any guidance you can impart?

Flying freeholds in Broadclyst are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Broadclyst you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Broadclyst 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 property.

Completion is due on the disposal of our £450,000 maisonette in Broadclyst next week. The landlords agents has quoted £312 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Broadclyst?

Broadclyst conveyancing on leasehold apartments more often than not requires the purchaser’s solicitor sending questions for the landlord to answer. Although the landlord is not legally bound to address such questions most will be willing to do so. They may levy a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some cases it exceeds £800. The administration charge demanded by the landlord must be accompanied by a summary of rights and obligations in relation to administration fees, otherwise the charge is technically not due. Reality however dictates that you have little choice but to pay whatever is requested of you if you want to sell the property.

Broadclyst Leasehold Conveyancing - Examples of Questions you should consider Prior to buying

How many of the leaseholders are in arrears for their service charge payments? On the whole the cost for major works are not wrapped into the service charges, although some managing agents in Broadclyst require tenants to contribute towards a reserve fund created for the specific intention of establishing a fund for major works. Plenty Broadclyst leasehold flats will incur a service charge for the upkeep of the block invoiced on behalf of the freeholder. Where you purchase the flat you will have to pay this liability, normally in instalments accross the year. This may differ from two or three hundred pounds to thousands of pounds for buildings with lifts and large communal grounds. There will also be a rentcharge for you to pay annual, this is usually not a large sum, say about £50-£100 but you need to check as sometimes it could be surprisingly expensive.