All was ready to move into my new home in Hethersett 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 mortgage company. 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 limited to conveyancing in Hethersett.

At what point does exchange of contracts take place for sale conveyancing in Hethersett and do I need to be at the conveyancers office?

Where you are near to our conveyancing solicitors in Hethersett you are invited in to sign documents. That being said, the lender approved solicitors we work with provide countrywide coverage for conveyancing and give just as comprehensive and professional a job for you when dealing with you electronically. The signing of the contract is not the critical part. Signing on the dotted line simply enables the solicitor to exchange contracts when the time is right, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Hethersett)to be in the office at the appropriate time.

What happens if my lawyer’s firm is suspended from the Lloyds Solicitor panel ahead of completing my conveyancing in Hethersett?

First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.

Will my lawyer be raising questions concerning flooding as part of the conveyancing in Hethersett.

The risk of flooding is if increasing concern for solicitors specialising in conveyancing in Hethersett. Plenty of people will purchase a property in Hethersett, fully expectant that at some time, it may be flooded. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the property. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.

Lawyers are not best placed to impart advice on flood risk, however there are a various checks that can be undertaken by the purchaser or on a buyer’s behalf which should give them a better appreciation of the risks in Hethersett. The conventional set of completed inquiry forms sent to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual question of the owner to determine if the property has suffered from flooding. If the premises has been flooded in past and is not notified by the vendor, then a buyer could issue a claim for damages stemming from an misleading answer. A purchaser’s conveyancers may also carry out an enviro report. This will higlight if there is any known flood risk. If so, additional investigations should be made.

My partner and I may need to let out our Hethersett 1st floor flat for a while due to a new job. We instructed a Hethersett conveyancing practice in 2003 but they have closed and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?

Some leases for properties in Hethersett do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

I bought a basement flat in Hethersett, conveyancing having been completed 5 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Hethersett with a long lease are worth £255,000. The ground rent is £45 yearly. The lease ceases on 21st October 2097

With 73 years left to run we estimate the premium for your lease extension to span between £8,600 and £9,800 as well as legals.

The figure 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 in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.