All was ready to complete my purchase in Tibshelf next Tuesday. 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 mortgage company. What risks does the mortgage company expect the insurance to cover?

All property lawyers 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 Part 2 instructions. These requirements are not limited to conveyancing in Tibshelf.

My uncle passed away six months ago and as sole heir and executor I was left the property in Tibshelf. The house had a small mortgage left on it of around £4500. I want to have the title changed into my name whilst I re-mortgage to Clydesdale, pay off the mortgage. Is this allowed?

If you intend to re-mortgage then Clydesdale will insist on your using a conveyancer on the Clydesdale conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Clydesdale conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Clydesdale mortgage is registered as a charge at the Land Registry.

Hoping to buy a property located in Tibshelf and I am already nervous. I couldn't find anything specific about Tibshelf. Conveyancing will be needed in due course but do you know about the Tibshelf area? or perhaps some other tips you can share?

Rather than looking online forget looking online you should go and have a look at Tibshelf. In the meantime here are some basic statistics that we found

My husband and I are new on the property ladder - had an offer accepted, yet the selling agent advised that the seller will only move forward if we instruct the agent's preferred lawyers as they want an ‘expedited deal’. Our preferred option is to instruct a local solicitor with experience of conveyancing in Tibshelf

We suspect that the owner is unaware of this request. Should the vendor want ‘a quick sale', turning down a motivated purchaser is counter productive. Speak to the vendors direct and make sure they understand (a)you are genuine purchasers (b)you are ready to go, with finances in place © you have nothing to sell (d) you wish to move quickly (e)but you will continue to use your own,trusted Tibshelf conveyancing lawyers - not the ones that will provide the estate agent a introducer fee or meet his conveyancing figures pre-set by HQ.

I am looking at a two apartments in Tibshelf both have in the region of 50 years remaining on the leases. should I be concerned?

There is no doubt about it. A leasehold flat in Tibshelf is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the salability of the property. For most purchasers and banks, leases with less than 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Tibshelf conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Leasehold Conveyancing in Tibshelf - Sample of Questions you should ask Prior to buying

It would be sensible to discover as much as possible about the managing agents as they will either make your life much simpler or a lot more difficult. As the proprietor of a leasehold property you are often at the mercy of the managing agents both financially and when it comes to daily issues such as the cleanliness of the common parts. Ask prospective neighbours what they think of them. In conclusion, find out the dates that you are obliged pay the maintenance charge to the managing agents and precisely what you get for your money. What is the name of the managing agents?