I am hoping to complete my purchase in Rumney next Monday. My property lawyer now wants me to supply her with evidence 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 bank. What risks does the lender 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 requirements. These requirements are not unique to conveyancing in Rumney.

Will my lawyer be raising enquiries regarding flooding during the conveyancing in Rumney.

The risk of flooding is if increasing concern for solicitors dealing with homes in Rumney. There are those who buy a house in Rumney, fully aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.

Lawyers are not qualified to offer advice on flood risk, but there are a numerous checks that may be undertaken by the buyer or by their lawyers which can figure out the risks in Rumney. The standard information given to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a standard question of the owner to discover if the property has suffered from flooding. If flooding has previously occurred which is not disclosed by the seller, then a buyer could commence a compensation claim as a result of such an incorrect response. A buyer’s solicitors may also conduct an environmental search. This should disclose if there is a recorded flood risk. If so, more detailed investigations should be made.

Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what should have been a straight forward, no chain conveyancing. Rumney is the location of the property. What do you suggest?

Flying freeholds in Rumney are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Rumney you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Rumney 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 property.

I have been pointed in your direction by a couple of local estate agents in Rumney to select a property lawyer on your site. What’s the financial advantage for Estate Agents to recommend your services ahead of alternative conveyancing organisations?

We refuse to make any referral fee for directing people to this site. We found it would be just too difficult to pay a commission because home movers will think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.

Why do Rumney conveyancing charges are more expensive for leasehold and freehold properties?

If buying a leasehold property there is more work involved purely due to the fact that usually there are further parties involved in the form of the freeholder and/or Management Agents. As part of a lawyers enquiries they will check that all ground rent and service charges are paid up to date amongst other general leasehold matters. For this reason, the Sellers lawyers usually have to refer to the freeholder or Managing Agent for their replies to our questions. This may be time consuming and beyond the lawyers control