Due to complete my purchase in Repton next Monday. My conveyancer now wants me to supply her with proof of content and building insurance for the property 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?

All property lawyers 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 instructions. These obligations are not unique to conveyancing in Repton.

Two weeks ago we had a mortgage agreed in principle with Barclays. Repton conveyancing solicitors were instructed. What is the average time that one could expect to receive a mortgage offer from Barclays?

Some lenders take longer than others. Have Barclays done the survey? Have you informed Barclays as to your lawyers' details and checked that your lawyers are on the Barclays conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.

I have a mortgage with Barclays for my property in Repton. Conveyancing has been completed months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Barclays?

You must advise Barclays prior to letting out your property as this is likely to be a breach of Barclays’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Barclays directly. It should not be necessary to do this via a Barclays conveyancing panel firm.

After shopping around on the internet I have found a Repton solicitor having made sure that they are on the Principality conveyancing panel. Does my lawyer arrange the survey of the property?

Principality will need an independent valuation of the property. Your lawyer will not arrange this. Usually Principality will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Repton surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.

I've recently found out that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a quick, chain free conveyancing. Repton is the location of the property. What do you suggest?

Flying freeholds in Repton are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Repton you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Repton 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.

Last March I purchased a leasehold property in Repton. Do I have any liability for service charges relating to a period prior to completion of my purchase?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I purchased a split level flat in Repton, conveyancing formalities finalised in 2011. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Repton with an extended lease are worth £186,000. The ground rent is £55 yearly. The lease terminates on 21st October 2076

With only 52 years left to run we estimate the premium for your lease extension to span between £29,500 and £34,000 plus costs.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.

My wife and I are looking at buying our first property in Repton. Is it possible for you to recommend a good Repton conveyancer that will help us as well as act for Virgin Money?

LenderPanel.com is limited to being a directory service for solicitors who wish to be listed as being on the approved conveyancing panel for Virgin Money in certain locations for example Repton . Our intention is not to recommend any particular property lawyer.