I am hoping to move into my new home in Sunningdale next Monday. 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 mortgage company 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 specific to conveyancing in Sunningdale.
Are there restrictive covenants that are commonly identified as part of conveyancing in Sunningdale?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Sunningdale. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I have been advised by a few selling agents in Sunningdale to select a solicitor using your seach tool. Is there a financial incentive for Estate Agents to offer your site rather than another?
We don’t make any financial incentive for directing people our way. We thought it would be too underhand to pay a commission because home movers will think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
I need to instruct a conveyancing lawyer in Sunningdale for my sale. Can I review a solicitor's record with the legal regulator?
Members of the public may review presented Solicitor Regulator Association (SRA) decisions stemming from inquisitions started on or after Jan 2008. Go to Check a solicitor's record. To find records Pre 2008, or to check a firm's record, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, use +44 (0)121 329 6800. The regulator may recorded call for training purposes.
I have just started marketing my garden flat in Sunningdale. Conveyancing solicitors are to be appointed soon, however I have recently received a quarterly service charge invoice – should I leave it to the buyer to sort out?
It best that you clear the maintenance contribution as usual because all ground rent and maintenance charges will be allotted on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I own a ground floor flat in Sunningdale, conveyancing having been completed in 2009. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Sunningdale with an extended lease are worth £180,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease terminates on 21st October 2083
With only 59 years remaining on your lease we estimate the price of your lease extension to range between £20,900 and £24,200 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.