I am hoping to complete my purchase in Fishponds next Friday. My solicitor now wants me to supply her with evidence of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the lender. 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 UK Finance Lenders’ Handbook conditions. These obligations are not specific to conveyancing in Fishponds.

It is 10 years ago since I purchased my house in Fishponds. Conveyancing lawyers have just been retained on the sale but I am unable to locate the deeds. Is this a problem?

Don’t worry too much. First the deeds may be with the lender or they may be in the possession of the conveyancers who acted in the purchase. Secondly in all probability the property will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing solicitors procuring current official copies of the land registers. Most conveyancing in Fishponds relates to registered property but in the rare situation where your property is not registered it adds to the complexity but is not insurmountable.

I have todaydiscovered that Arc property Solicitors have closed. They carried out my conveyancing in Fishponds for a purchase of a leasehold flat 9 months ago. How can I establish that the property is not still registered in the name of the former proprietor?

The easiest method to see if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Fishponds conveyancing specialists.

I am looking at a couple of apartments in Fishponds which have about 50 years unexpired on the lease term. Will this present a problem?

There are plenty of short leases in Fishponds. The lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the marketability of the lease decreases and results in it becoming more expensive to extend the lease. For this reason it is advisable to increase the term of the lease. More often than not it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this area.

Leasehold Conveyancing in Fishponds - Sample of Queries before Purchasing

How much is the service charge and ground rent on the property? Does the lease have onerous restrictions? The answer will be important as a) areas could cause problems in the building as the common areas may begin to deteriorate if repairs remain unpaid b) if the tenants have a dispute with the managing agents you will need to have all the details

My wife and I yesterday discovered that one of the directors of the firm handling the purchase conveyancing in Fishponds is a relative of the seller. Is this acceptable?

On the basis that there is no conflict of interest this should be fine. If you are needing mortgage finance then the lender may have a say as many lenders have specific instructions concerning this. For example for RBS - Direct Line One as of 6/5/2024, the requirements read as follows :