All was ready to complete my purchase in Great Dunmow 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 bank. What risks does the bank 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 Part 2 conditions. These requirements are not limited to conveyancing in Great Dunmow.

In what way does my ID and proof of funds have anything to do with my conveyancing in Great Dunmow? Is this really warranted?

In order to comply with Money Laundering Regulations any Great Dunmow conveyancing firm will require proof of identity in all conveyancing transactions. This is usually dealt with by provision of a passport and an original bank statement or utility account showing your correct address.

In accordance with Money Laundering Regulations, conveyancing solicitors are duty bound to check not simply the identity of conveyancing clients but also the origin of monies that they receive in respect of any matter. Refusal to disclose this will result in your conveyancer cancelling their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.

Your conveyancers will have an obligation to make a disclosure to the relevant authorities should they believe that any monies received by them may contravene the Money Laundering Regulations.

I am purchasing a house and need a conveyancing solicitor in Great Dunmow who is on the Aldermore approved. Can you recommend a local firm?

Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Aldermore in certain locations such as Great Dunmow. We dont recommend any particular firm.

Due to the input of my in-laws I had a survey completed on a property in Great Dunmow prior to retaining lawyers. I have been advised that there is a flying freehold overhang to the house. My surveyor advised that some banks tend not grant a mortgage on such a property.

It depends who your proposed lender is. HSBC has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Great Dunmow. Conveyancing may be slightly more expensive based on your lender's requirements.

I only have Sixty One years left on my lease in Great Dunmow. I am keen to extend my lease but my landlord is absent. What should I do?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to prove that you or your lawyers have made all reasonable attempts to locate the landlord. For most situations an enquiry agent would be useful to carry out a search and to produce an expert document which can be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s disappearance and the application to the County Court overseeing Great Dunmow.

I acquired a basement flat in Great Dunmow, conveyancing having been completed February 1995. How much will my lease extension cost? Similar properties in Great Dunmow with an extended lease are worth £176,000. The average or mid-range amount of ground rent is £50 per annum. The lease finishes on 21st October 2104

With only 79 years left to run we estimate the premium for your lease extension to be between £7,600 and £8,800 as well as costs.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. 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 want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.