Due to move into my new home in Treharris 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 bank. What does the insurance need 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 instructions. These obligations are not unique to conveyancing in Treharris.

Do all mortgage companies provide you with an approved list of Treharris conveyancing solicitors? How do you know who is on the Aldermore conveyancing panel?

Treharris conveyancing firms themselves provide us confirmation that they are on the Aldermore conveyancing panel as opposed to being supplied with a list from Aldermore directly.

The estate agent has sent us the confirmation of our purchase of a new build flat in Treharris. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.

Here are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Treharris

If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please confirm the Lease plans are architect prepared.

I opted to have a survey completed on a property in Treharris prior to retaining conveyancers. I have been advised that there is a flying freehold aspect to the house. Our surveyor has said that some mortgage companies tend refuse to issue a mortgage on this type of property.

It depends who your proposed lender is. Bank of Scotland has different requirements from Nationwide. Should you wish to telephone us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Treharris. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Treharris to see if the conveyancing will be more expensive.

I work for a busy estate agency in Treharris where we have experienced a few leasehold sales derailed due to short leases. I have been given contradictory information from local Treharris conveyancing solicitors. Could you confirm whether the owner of a flat can initiate 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 kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder 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.

Treharris Leasehold Conveyancing - A selection of Questions you should ask Prior to Purchasing

How long is the Lease? If a Treharris lease has less than 80 years it will impact the marketability of the flat. Check with your mortgage company that they are content with residual term of the lease. A short lease means that you will probably have to extend the lease at some point and it is worth finding out what this will be. For most Treharrislease extensions you will need to own the premises for 24 months in order to be eligible to extend the lease. Be sure to find out if there is anything that is prohibited in the lease. By way of example it is very common in Treharris leases that pets are not permitted in certain buildings in Treharris. If you like the apartmentin Treharris however your cat is not allowed to move with you then you will be presented with a difficult choice.