Due to complete my purchase in East Boldon next Thursday. 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 mortgage company. What risks does the mortgage company expect the insurance to cover?
Any lawyer 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 UK Finance Lenders’ Handbook instructions. These obligations are not specific to conveyancing in East Boldon.
Can I use your services to recommend a Conveyancing solicitor in East Boldon even where I’m not buying or selling a house, for example where I intend to acquire a shop in East Boldon with a mortgage from The Royal Bank of Scotland?
Our search tool is primarily there to find residential conveyancing solicitors in East Boldon but we have listed towards the bottom of this page a few East Boldon commercial conveyancing firms. You should enquire with the solicitors directly to see if they can also act for The Royal Bank of Scotland
Do the Building Society Association intend to launch a searchable register to list practices on the Loughborough BS conveyancing panel for example in East Boldon?
Lexsure has not been advised of any intention on the part of the BSA to develop such a register.
I am on look out for some leasehold conveyancing in East Boldon. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.
If the lease is registered - and 99.9% are in East Boldon - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I invested in buying a 2 bed flat in East Boldon, conveyancing having been completed in 2002. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in East Boldon with over 90 years remaining are worth £227,000. The ground rent is £50 per annum. The lease terminates on 21st October 2091
With 72 years unexpired we estimate the price of your lease extension to span between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.
I pay a maintenance fee for my flat in East Boldon. Due to losing my job and other issues I fell behind with remittance. The managing agents agreed a clearance schedule but there remains around £2000 currently due.
I want to sell and I am concerned this can threaten to derail the sale if I have to discharge the arrears now. I'd like to sell up and then pay them back with the completion monies - is this achievable?
Do check with the solicitor carrying out your East Boldon conveyancing but one option might be to agree for the debt to be attributed to the purchasers. The contractual price payable would be reduced to reflect the amount of debt they assume. They could then discharge the fees post completion of the sale.