Due to complete my purchase in Wraysbury next Monday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the bank. What risks does the bank expect the insurance to cover?
Any lawyer 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 instructions. These requirements are not specific to conveyancing in Wraysbury.
When can the exchange of contracts occur in domestic conveyancing in Wraysbury and am I required to be at the lawyers office?
Where you are round the corner to our conveyancing solicitors in Wraysbury you are invited in to sign documents. That being said, the firms we work with supply countrywide coverage for conveyancing and provide as equally comprehensive and professional a job for you when dealing with you electronically. The executing of the contract is not the point of no return. Signing on the dotted line is just a prerequisite for the conveyancer to exchange contracts when the time is right, which is ordinarily shortly after signing. The procedure is is usually a five minute process, although where a lengthy "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Wraysbury)to be in the office at the appropriate time.
I own a terraced Victorian property in Wraysbury. Conveyancing solicitor represented me and Birmingham Midshires. I did a free Land Registry search last week and I saw two entries: one for freehold, the second leasehold with the matching property. I thought I was buying a freehold how can I check?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Wraysbury and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with the conveyancing lawyer who conducted the purchase.
I've recently found out that there is a flying freehold element on a property I have offered on a fortnight ago in what should have been a quick, no chain conveyancing. Wraysbury is where the house is located. Can you offer any advice?
Flying freeholds in Wraysbury are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Wraysbury you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wraysbury may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Back In 2004, I bought a leasehold flat in Wraysbury. Conveyancing and Skipton Building Society mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Wraysbury who acted for me is not around. Any advice?
First contact HMLR to be sure that this person is indeed the registered owner of the freehold reversion. There is no need to instruct a Wraysbury conveyancing solicitor to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Wraysbury Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to buying
What is the name of the managing agents? Are there any major works in the near future that will likely add a premium to the service fees? Best to be warned if window replacement or some other significant cost is anticipated that will be shared amongst the leaseholders and may well dramatically impact the level of the maintenance fees or necessitate a specific payment.