All was ready to move into my new home in Lutterworth next Monday. My solicitor 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 bank. What risks does the lender 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 instructions. These obligations are not limited to conveyancing in Lutterworth.

Do I select a Licenced Conveyancer or Solicitor for conveyancing in Lutterworth?

Two types of professional can execute conveyancing in Lutterworth namely CLC regulated conveyancers or solicitors. Both professionals administer conveyancing services that required to complete the sale or purchase of property. Both are obliged to handle Lutterworth conveyancing on similar standards and guidelines so you can be sure that your conveyancing will be properly conducted and that the requisite steps should be correctly taken.

I am expecting a AIP from Co-operative this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Co-operative recommend any Lutterworth solicitors on the Co-operative conveyancing panel, or is it better to find our own lawyer?

You will need to appoint Lutterworth solicitors independently although you'll need to choose one on the Co-operative conveyancing panel. The solicitor represents both you and Co-operative through the process.

Nottingham have agreed my home loan in principle, my bid on a flat in Lutterworth has been accepted, what are the next steps?

The estate agent will wish to be informed of your lawyer's details (ensure that the solicitors are on the bank’s approved list). Contact Nottingham or your financial adviser and complete any relevant paperwork. Nottingham will appoint a valuer who will get in touch with the selling agent or vendor to book an appointment. Once carried out (assuming no problems) it takes approximately a fortnight to get a mortgage offer. Nottingham will issue the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Lutterworth.

I have recentlybeen informed that Arc property Solicitors have been shut down. They conducted my conveyancing in Lutterworth for a purchase of a leasehold flat 10 months ago. How can I check that the property is not still registered in the name of the former proprietor?

The quickest way to see if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Lutterworth conveyancing specialists.

Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what was supposed to be a quick, no chain conveyancing. Lutterworth is where the house is located. What do you suggest?

Flying freeholds in Lutterworth are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Lutterworth you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lutterworth may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.

I am a negotiator for a busy estate agent office in Lutterworth where we have experienced a few flat sales jeopardised due to leases having less than 80 years remaining. I have been given inconsistent advice from local Lutterworth conveyancing solicitors. Could you confirm whether the vendor of a flat can commence the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord 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 buyer.

Lutterworth Leasehold Conveyancing - A selection of Queries before Purchasing

Please inform me if there are any major works in the near future that could add a premium to the maintenance costs? What prohibitions are contained in the Lutterworth Lease?