All was ready to complete my purchase in Forest of Dean next Tuesday. 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 bank. What does the insurance need to cover?

All property lawyers on acting for mortgage companies 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 obligations are not limited to conveyancing in Forest of Dean.

Why is leasehold purchase conveyancing in Forest of Dean costs more?

In short, leasehold conveyancing in Forest of Dean and elsewhere usually requires additional work compared to freehold transactions. This includes reviewing the lease, communicating with the landlord about the service of required notices, procuring current service charge and management information, procuring the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first granted.

Will commercial conveyancing searches reveal planned roadworks that may impact a commercial land in Forest of Dean?

Many commercial conveyancing solicitors in Forest of Dean will conduct a SiteSolutions Highways report as it reduces the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in Forest of Dean. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Forest of Dean.

For each commercial conveyancing transaction in Forest of Dean it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately can cause delays to Forest of Dean commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not carried out for domestic conveyancing in Forest of Dean.

In my capacity as executor for the will of my grandfather I am selling a residence in Swansea but reside in Forest of Dean. My solicitor (approximately 300 kilometers from meneeds me to execute a stat dec before completion. Could you suggest a conveyancing practitioner in Forest of Dean to witness and place their company stamp on the document?

Technically speaking you are not likely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or solicitor will suffice regardless of whether they are located in Forest of Dean

Do you have any top tips for leasehold conveyancing in Forest of Dean from the perspective of speeding up the sale process?

• Much of the frustration in leasehold conveyancing in Forest of Dean can be bypassed if you appoint lawyers as soon as you market your property and request that they start to collate the leasehold documentation which will be required by the purchasers’ conveyancers.
You may think that you are aware of the number of years remaining on your lease but it would be wise to double-check by asking your lawyers. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is below 75 years. It is therefore essential at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. If there is a history of conflict with your landlord or managing agents it is very important that these are settled prior to the flat being marketed. 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 settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic rather than unsettled. A minority of Forest of Dean leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors.

I invested in buying a 1 bedroom flat in Forest of Dean, conveyancing formalities finalised August 2012. How much will my lease extension cost? Similar flats in Forest of Dean with over 90 years remaining are worth £211,000. The average or mid-range amount of ground rent is £45 yearly. The lease expires on 21st October 2091

With 67 years left to run we estimate the premium for your lease extension to span between £10,500 and £12,000 as well as professional fees.

The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.