Will my conveyancing lawyers need to check that the building insurance when buying a house in Cilcain. My lender is Accord Mortgages

Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 8/7/2019, the requirements read as follows :

What does a local search reveal about the house my wife and I purchasing in Cilcain?

Cilcain conveyancing often commences with the submitting local authority searches directly from your local Authority or through a personal search organisations for example Onsearch The local search is essential in every Cilcain conveyancing purchase; as long as you wish to avoid any nasty surprises after you move into your new home. The search should reveal 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 thirteen topic areas.

I've recently found out that there is a flying freehold element on a property I put an offer in a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. Cilcain is where the house is located. Can you shed any light on this issue?

Flying freeholds in Cilcain are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Cilcain you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cilcain may determine 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.

I've recently bought a leasehold flat in Cilcain. Do I have any liability for service charges for periods before my ownership?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I inherited a 2 bed flat in Cilcain, conveyancing was carried out 3 years ago. How much will my lease extension cost? Equivalent flats in Cilcain with over 90 years remaining are worth £186,000. The ground rent is £55 charged once a year. The lease expires on 21st October 2071

With only 52 years unexpired we estimate the price of your lease extension to range between £29,500 and £34,000 plus costs.

The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.

I am unable to travel my Cilcain conveyancing practitioners office to sign documents connected to my conveyancing in Cilcain – is this a problem?

No. Cilcain conveyancing lawyers can handle conveyancing transactions for clients nationally. You are unlikely to be required to be present a Cilcain conveyancers office. They can deal with everything via post, email, telephone and fax.