Due to complete my purchase in Comberton next Thursday. My property lawyer now wants me to supply her with evidence of content and building insurance for the property as as she informs me that she is duty bound to validate that it is in order for the mortgage company. What does the insurance need to cover?

All property lawyers 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 obligations are not unique to conveyancing in Comberton.

My bid for a property was accepted at auction in Comberton. Conveyancing is necessary. What happens now?

Given that you are now exchanged you will need to hire the services of a conveyancing practitioner soon as you now have a tight deadline in which to complete the transaction. An auction property will have a corresponding auction pack. This should include evidence of title and search results. In the case of leasehold property the auction papers may contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation pertinent to leasehold premises. You should hand this to your appointed conveyancing solicitor at the earliest opportunity. Do make sure that that you have the requisite funding in order to complete the transaction on the set completion date.

When it comes to lenders such as Barclays, do Comberton solicitors incur a yearly amount to be on the conveyancing panel?

We are unaware of any bank fees to register on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.

It is unclear whether my lender requires a lease extension. I have called my Comberton building society branch on numerous occasions and was informed it wasn't an issue and they would lend. My Comberton conveyancing solicitor - who is on the bank conveyancing panel- called to say that they refuse to lend in accordance with their published requirements. Who do I believe?

Provided that the solicitor is on the lender panel, they must adhere to the CML Handbook requirements for the lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.

What will a local search reveal concerning the house we're buying in Comberton?

Comberton conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search organisations such as Searchflow The local search plays an important role in many a Comberton conveyancing purchase; as long as you wish to avoid any unpleasant once you have moved into your new home. The search should reveal information on, amongst other things, details on planning applications relevant to the property (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 topic areas.

Just had an offer accepted on a new build apartment in Comberton. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.

Here are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Comberton

Please confirm the Lease plans are surveyor prepared. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Forfeiture - bankruptcy or liquidation must not apply under this provision. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. There must be mutual enforceability of lessee’s covenants.

I am a negotiator for a reputable estate agent office in Comberton where we have witnessed a number of flat sales derailed as a result of short leases. I have received inconsistent advice from local Comberton conveyancing solicitors. Please can you shed some light as to whether the vendor of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has owned the lease 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 for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.

Alternatively, it may be possible 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 invested in buying a ground floor flat in Comberton, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Comberton with a long lease are worth £195,000. The ground rent is £45 charged once a year. The lease comes to an end on 21st October 2087

With 63 years remaining on your lease the likely cost is going to be between £16,200 and £18,600 plus legals.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.