I am hoping to move into my new home in Comberton 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 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 instructions. These requirements are not specific to conveyancing in Comberton.
We are purchasing a 3 bedroom semi in Comberton. Our aim is to carry out an extension to the side at the property.Will legal due diligence on the property involve checks to see if these works are permitted?
Your solicitor should check the registered title as conveyancing in Comberton will sometimes identify restrictions in the title deeds which prevent categories of alterations or require the consent of a 3rd party. Some extensions need local authority planning consent and approval in accordance building regulations. Some areas are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. You should check these things with a surveyor ahead of any purchase.
My conveyancer has informed me that lack of right of way insurance is needed on my purchase. What is the level of cover for Comberton conveyancing?
The right level of lack of right of way indemnity insurance should be dictated by who who your lender is. It would differ for example between Lloyds TSB Bank and Barnsley Building Society. Conveyancing solicitors as opposed to borrowers take out such policies.
I happen to be the single beneficiary of my late mum's estate and I have everything in my name alone, including the house in Comberton. Conveyancing formalities meant that the Land Registry date was in August. I now wish to sell up. I do know about the CML six month 'rule', meaning my property ownership may be treated the same way as if I'd bought the property in August. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be impacted by that. Most banks would take a practical view as this requirement is principally there to capture the purchase and immediately sell or the wholesaling and assigning of property.
Me and my brother have a 4 bedroom Georgian property in Comberton. Conveyancing practitioner represented me and Godiva Mortgages Ltd. I did a free Land Registry search last week and I saw two entries: one for freehold, another for leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Comberton and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the position with the conveyancing practitioner who carried out the work.
My husband and I are novice buyers - agreed a price, yet the selling agent informed us that the vendor will only move forward if we appoint the agent's preferred lawyers as they want an ‘expedited deal’. Our preferred option is to instruct a local conveyancer with experience of conveyancing in Comberton
We suspect that the seller is unaware of this request. If they want ‘a quick sale', turning down a genuine buyer is is going to put the whole deal at risk. Avoid the agents and go straight to the sellers and make the point that (a)you are genuine purchasers (b)you are ready to progress, with finances arranged © you are unencumbered (d) you intend to proceed fast (e)however you will continue to use your own,trusted Comberton conveyancing solicitors - not the ones that will earn the negotiator at the agency a kickback or hit his conveyancing targets pre-set by senior management.
My wife and I purchased a leasehold house in Comberton. Conveyancing and Lloyds TSB Bank mortgage organised. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Comberton who acted for me is not around. What should I do?
First make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Comberton conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am the registered owner of a 2 bed flat in Comberton, conveyancing having been completed 9 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Comberton with over 90 years remaining are worth £211,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease expires on 21st October 2088
With just 68 years unexpired we estimate the premium for your lease extension to span between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.