Due to complete my purchase in Knotty Ash next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the mortgage company. What risks does the bank 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 Part 2 requirements. These requirements are not limited to conveyancing in Knotty Ash.

I am aiming to move home in March. Does my conveyancing solicitor call the removal company on the day of completion. Incidentally, can you put forward a removal company in Knotty Ash. Conveyancing firm was chosen prior to coming across this website.

On the afternoon of completion you will need to pick up the keys from the selling agent but this should only happen once the vendors solicitors confirm to the agent that they have the completion monies and the keys can be collected. You can advise the removal company that they can start moving you in. As a matter of policy we do not recommend a specific removal organisation but can assist you in locating a residential property solicitor in Knotty Ash or a legal practice that specialises in conveyancing in Knotty Ash.

Last month we had a mortgage agreed in principle with Skipton. Knotty Ash conveyancing practitioners were instructed. How long does it take for Skipton to forward the offer to the lawyer?

There is no definitive answer here. Have Skipton conducted the valuation? Have you informed Skipton as to your lawyers' details and checked that your lawyers are on the Skipton conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.

We were going to get a OIP from Nationwide this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Nationwide recommend any Knotty Ash solicitors on the Nationwide conveyancing panel, or is it better to go independently?

You will need to appoint Knotty Ash solicitors independently although you'll need to choose one on the Nationwide conveyancing panel. The solicitor represents both you and Nationwide through the process.

What can a local search tell me about the property my wife and I purchasing in Knotty Ash?

Knotty Ash conveyancing often commences with the submitting local authority searches directly from your local Authority or through a personal search organisations for instance PSG The local search is essential in every Knotty Ash conveyancing purchase; as long as you don’t want any nasty once you have moved into your new home. The search will supply data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject areas.

Due to the input of my in-laws I had a survey completed on a property in Knotty Ash in advance of retaining solicitors. I have been told that there is a flying freehold overhang to the house. The surveyor has said that some banks tend not grant a mortgage on a flying freehold house.

It depends who your proposed lender is. HSBC has different instructions from Birmingham Midshires. If you e-mail us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Knotty Ash. Conveyancing will be smoother if you use a solicitor in Knotty Ash especially if they are accustomed to such properties in Knotty Ash.

I am looking at a two apartments in Knotty Ash which have approximately forty five years remaining on the lease term. Will this present a problem?

There is no doubt about it. A leasehold apartment in Knotty Ash is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the value of the property. For most buyers and lenders, leases with less than eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Knotty Ash conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Knotty Ash Conveyancing for Leasehold Flats - A selection of Queries Prior to buying

How is the lease structured? Please note if it is fewer than eighty years it will affect the salability of the apartment. It is worth checking with your bank that they are willing to lend given the lease term. Leases with less than 80 years remaining means that you will most likely have to extend the lease sooner rather than later and it is worth discovering how much this would cost. For most Knotty Ashlease extensions you will be be obliged to have been the owner of the premises for 24 months before you are entitled to extend the lease. The best form of lease structure is if the freehold title is owned by the leaseholders. In this situation the lessees have control and although a managing agent is often employed if the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves.