Due to move into my new home in Summertown next Thursday. 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 lender. What risks does the bank expect the insurance to cover?

Any lawyer on acting for lenders 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 conditions. These requirements are not limited to conveyancing in Summertown.

In what way does my ID and proof of funds have anything to do with my conveyancing in Summertown? What am I being asked for?

Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to verify the identification documents of the potential client they are dealing with before they can accept their conveyancing instruction. The Terms of Engagement that you are required to sign should stipulate this. Your lender will also require certain documents to be viewed. Where you refuse to hand over identification documents, your lawyer will not be able to take you on as a client.

My company is looking to take over a lease of a shop on the high street. Can you recommend lawyers offering no-sale-no charges for non-domestic conveyancing in Summertown for less than 1500k?

We can recommend firms who have an in-depth of experience of commercial conveyancing in Summertown, including the sale and acquisition of businesses as well as simply property. Whether you are hoping to purchase or lease a shop, pub, restaurant, office, retail premises or a complete business we can find you the right firm. Regarding the charges these will vary based on the structure and complexity of the proposed transaction. Please provide us with your contact information or email us so that we may furnish you with a fixed commercial conveyancing quote.

I work for a reputable estate agent office in Summertown where we have witnessed a number of flat sales put at risk as a result of leases having less than 80 years remaining. I have received conflicting advice from local Summertown conveyancing solicitors. Could you confirm whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means 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 needs to be completed 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.

Summertown Leasehold Conveyancing - Sample of Queries before buying

This question is important as a) areas may result in problems in the building as the communal areas may begin to deteriorate if services are not paid for b) if the leaseholders have an issue with the running of the building you will wish to have all the details How many of the leaseholders are in arrears for their service charge payments? Does the lease have onerous restrictions?

I have just had an offer accepted on an apartment in Summertown and the estate agent that we are using recommended his lawyer. She quoted £900 excluding VAT and 3rd party costs. Does this sound expensive?

Don't just go on a single quote. One should seek like-for-like quotes for your conveyancing in Summertown. Then pick one that you are comfortable with and crucially, is on the approved list of the mortgage company that you have applied for a mortgage from.