All was ready to move into my new home in Wolviston next Friday. My 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 lender. What risks does the lender 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 UK Finance Lenders’ Handbook requirements. These requirements are not unique to conveyancing in Wolviston.

What does my ID and proof of funds have anything to do with my conveyancing in Wolviston? Is this really necessary?

Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identification documents of the person or body they are dealing with prior to agreeing to accepting their conveyancing business. The Terms of Engagement that you are required to sign will no doubt confirm this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Should you are unwilling to supply identification documents, your solicitor can not take you on as a client.

Are there restrictive covenants that are commonly identified during conveyancing in Wolviston?

Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Wolviston. 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…’

Over the last few months I have been searching for a flat up to £195,000 and identified one round the corner in Wolviston I like with amenity areas and railway links nearby, however it's only got 49 years on the lease. I can't really find anything else in Wolviston suitable, so just wondered if I would be making a grave error acquiring a short lease?

If you require a home loan the shortness of the lease will be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you may request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this.

I have just started marketing my garden apartment in Wolviston. Conveyancing is yet to be initiated, however I have recently received a yearly service charge invoice – should I leave it to the buyer to sort out?

It best that you clear the invoice as usual because all rents and service payments will be allotted on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless 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 leasehold flat in Wolviston, conveyancing having been completed 3 years ago. How much will my lease extension cost? Equivalent flats in Wolviston with an extended lease are worth £165,000. The ground rent is £45 yearly. The lease ceases on 21st October 50

With only 50 years unexpired the likely cost is going to be between £36,100 and £41,800 as well as professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.