All was ready to move into my new home in Hyde next Thursday. My conveyancing practitioner now wants me to supply her with proof of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the mortgage company. What risks does the mortgage company expect the insurance 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 UK Finance Lenders’ Handbook conditions. These requirements are not unique to conveyancing in Hyde.

I own a freehold house in Hyde yet invoiced for rent, why is this and what is this?

It is rare for properties in Hyde and has limited impact for conveyancing in Hyde 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 post 1977.

Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.

We are buying a house and the conveyancer has raised the issue of Chancel Repair for which the property could be obligated to pay as it falls into the area of such a church. She has suggested insurance. Is this really necessary for conveyancing in Hyde

Unless a prior purchase of the premises took place after 12 October 2013 you could expect lawyers conducting conveyancing in Hyde to continue to propose a a chancel search and or insurance against a claim.

My brother has recommend that I appoint his conveyancers in Hyde. Should I use them?

Much as we are happy to recommend a Hyde conveyancing lawyer it’s preferable to select a conveyancing lawyer is to have referrals from friends or family who have actually experience in using the solicitor you're are thinking of instructing.

What makes a Hyde lease unmortgageable?

There is nothing unique about leasehold conveyancing in Hyde. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are erroneous. The following missing provisions could result in a defective lease:

Repairing obligations to or maintain elements of the premises A provision for the recovery of money spent for the benefit of another party.

A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Leeds Building Society, and Bank of Ireland all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to pull out.

Hyde Leasehold Conveyancing - Sample of Questions you should ask before Purchasing

It would be a good idea to enquire if the the lease includes any adverse restrictions in the lease. By way of example it is very common in Hyde leases that pets are not permitted in certain buildings in Hyde. If you love the flatin Hyde yet your dog can’t make the move with you then you have a very hard compromise. Plenty Hyde leasehold properties will have a service bill for maintenance of the building levied by the freeholder. Should you purchase the property you will have to pay this charge, usually in instalments throughout the year. This can be anything from two or three hundred pounds to thousands of pounds for large purpose-built buildings. There will also be a ground rent for you to pay annual, this is usually not a significant amount, say approximately £25-£75 but you need to check it because on occasion it could be many hundreds of pounds. Who is in charge of the building?