I am hoping to move into my new home in Holme On Spalding Moor next Tuesday. 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 bank. What does the insurance need 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 conditions. These requirements are not specific to conveyancing in Holme On Spalding Moor.
I purchased a freehold premises in Holme On Spalding Moor yet charged rent, why is this and what is this?
It is rare for properties in Holme On Spalding Moor and has limited impact for conveyancing in Holme On Spalding Moor but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
The deeds to our house can not be found. The lawyers who conducted the conveyancing in Holme On Spalding Moor 10 years ago are no longer around. What are my next steps?
You no longer need to hold title original deeds to prove you are the owner of your registered land or property, given that the Land Registry hold details of all registered land or property electronically.
Given that I will soon part with 450k on 3 bedroom house in Holme On Spalding Moor I wish to have a conversation with the solicitor about myconveyancing ahead of instructing the firm. Is this something that you can arrange?
Absolutely - we would be happy to talk to you we do not take any clients on without you speaking to the solicitor due to be carrying out your property ownership legalities in Holme On Spalding Moor.There is no ‘factory style conveyancing’ - every client is unique person, not a file reference. The solicitors that we put you in touch with believe that the fees you are provided with for residential conveyancing in Holme On Spalding Moor should be the amount on the final invoice that you are charged.
I work for a long established estate agent office in Holme On Spalding Moor where we have experienced a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have been given inconsistent advice from local Holme On Spalding Moor conveyancing firms. Please can you confirm whether the seller of a flat can instigate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Holme On Spalding Moor Leasehold Conveyancing - Examples of Queries Prior to Purchasing
Are any of leasehold owners in arrears of their service charge payments? Best to be warned whether window replacement or some other significant cost is pending to be shared between the leaseholders and will materially impact the level of the maintenance charges or require a specific invoice. What restrictions are contained in the Holme On Spalding Moor Lease?