Due to move into my new home in Cottenham next Monday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the lender. What risks does the lender 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 Part 2 instructions. These requirements are not limited to conveyancing in Cottenham.

Do the Building Society Association intend to launch a search tool with a view to list law firms on the Coventry BS conveyancing panel for example in Cottenham?

We would not expect to be advised of any intention on the part of the BSA to promote such a tool.

I am buying a new build flat in Cottenham. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.

Set out below are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Cottenham

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. Please supply a car parking plan. Forfeiture - bankruptcy or liquidation must not apply under this provision. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Please confirm the Lease plans are surveyor prepared.

Is it best to choose a Cottenham conveyancing solicitor in close proximity to the house I am hoping to buy? I have an old university friend who can deal with the conveyancing but they are based 400kilometers drive away.

The primary upside of using a high street Cottenham conveyancing firm is that you can pop in to execute documents, present your ID and pester them if necessary. They will also have local insight which is a benefit. However it's more important to get someone that will pull out all the stops for you. If if people you trust instructed your friend and in the main were happy that should outweigh using an unknown Cottenham conveyancing solicitor just because they are Cottenham based.

Do you have any top tips for leasehold conveyancing in Cottenham from the perspective of saving time on the sale process?

• A significant proportion of the delay in leasehold conveyancing in Cottenham can be avoided where you appoint lawyers as soon as you market your property and request that they start to collate the leasehold documentation needed by the purchasers’ representatives.
The majority of landlords or Management Companies in Cottenham levy fees for supplying management packs for a leasehold home. You or your lawyers should discover the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Cottenham. You may think that you are aware of the number of years remaining on your lease but you should verify this by asking your conveyancers. A purchaser's conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is less than 80 years. It is therefore essential at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale. If there is a history of any disputes with your landlord or managing agents it is essential that these are settled before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to present the dispute as historic rather than unsettled. If you have carried out any alterations to the premises would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Cottenham state that internal structural changes or laying down wooden flooring require a licence from the Landlord consenting to such works. Should you dont have the paperwork to hand you should not communicate with the landlord without contacting your lawyer in advance.

Leasehold Conveyancing in Cottenham - A selection of Questions you should ask before buying

Best to be warned if fixing the lift or some other major work is anticipated that will be shared by the leaseholders and will materially increase the the maintenance costs or require a specific invoice. Where a Cottenham lease has fewer than eighty years it will affect the salability of the apartment. It is worth checking with your bank that they are willing to lend given the lease term. A short lease means that you will probably have to extend the lease at some point and you need to have some idea of what this will be. Remember, in most cases you will be be obliged to have owned the premises for two years before you are entitled to extend the lease. How many of the leaseholders are in arrears for their maintenance charge payments?