I am hoping to move into my new home in Kempshott next Thursday. 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 lender. What risks does the mortgage company expect the insurance to cover?
Any lawyer 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 UK Finance Lenders’ Handbook requirements. These obligations are not specific to conveyancing in Kempshott.
Do commercial conveyancing searches reveal proposed roadworks that could affect a commercial property in Kempshott?
Many commercial conveyancing solicitors in Kempshott will order a SiteSolutions Highways report as it reduces the time that conveyancers invest in sourcing accurate data on highways that impact buildings and development assets in Kempshott. The search result provides 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 Kempshott.
For every commercial conveyancing transaction in Kempshott it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately could cause delays to Kempshott commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not conducted for domestic conveyancing in Kempshott.
My wife and I have a semi-detached Edwardian house in Kempshott. Conveyancing solicitor acted for me and The Royal Bank of Scotland. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, the second leasehold under the matching address. If a house is not a freehold shouldn't I have been informed?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Kempshott and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the situation with your conveyancing solicitor who conducted the work.
I need to appoint a conveyancing solicitor for freehold conveyancing in Kempshott. I've stumble across a site which seems to have the ideal solution If there is a chance to get all this stuff completed via web that would be preferable. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
My wife and I purchased a leasehold house in Kempshott. Conveyancing and Bank of Scotland mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Kempshott who previously acted has long since retired. Any advice?
First contact the Land Registry to be sure that the individual claiming to own the freehold is in fact the new freeholder. It is not necessary to instruct a Kempshott conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am the registered owner of a garden flat in Kempshott, conveyancing having been completed April 1999. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Kempshott with a long lease are worth £255,000. The average or mid-range amount of ground rent is £45 per annum. The lease runs out on 21st October 2091
With only 73 years left to run we estimate the price of your lease extension to span between £8,600 and £9,800 plus professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be other 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 before seeking the advice of a professional.