All was ready to complete my purchase in Liphook next Tuesday. 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 mortgage company. What does the insurance need 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 requirements. These obligations are not unique to conveyancing in Liphook.

I need some fast conveyancing in Liphook as I am faced with pressure to complete in less than 3 weeks. A mortgage is not required. Is it possible to decline from having conveyancing searches to save fees and time?

As you are not taking a home loan you are at liberty not to have searches carried out although no lawyer would suggest that you don't. With plenty of history conveyancing in Liphook the following are instances of issues that can arise and adversely affect the marketability of the property: Refused Planning Applications, Outstanding Fees, Outstanding Grants, Road Schemes,...

I purchased my apartment on 5 March and the transaction details are still not on the land registry website. Should I be concerned? My conveyancing solicitor in Liphook expressed confidence that it should be formalised inside ten days. Are properties in Liphook uniquely lengthy to register?

As far as conveyancing in Liphook is concerned, registration is no faster or slower than the rest of England and Wales. Rather than based on location, timescales can adjust according to who lodges the application, whether it is in order and if the Land registry communicate with any other persons or bodies. As of today roughly three quarters of such applications are fully dealt with in less than three weeks but occasionally there can be extensive hold-ups. Historically registration occurs once the buyer has moved in to the premises thus 'speed' is not always an essential issue yet if it is urgent that the the registration takes place urgently then you or your lawyers could speak with the land registry and explain the circumstances.

I am looking for a flat up to £195,000 and found one close by in Liphook I like with open areas and station in the vicinity, however it's only got 61 years unexpired on the lease. There is not much else in Liphook in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?

If you need a mortgage the shortness of the lease will likely be an issue. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of twenty four months you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.

What are the frequently found defects that you see in leases for Liphook properties?

Leasehold conveyancing in Liphook is not unique. All leases are drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are missing. For example, if your lease is missing any of the following, it could be defective:

Clauses dealing with recovering service charges for expenditure on the building or common parts.

You could encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Leeds Building Society, and Clydesdale all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the buyer to pull out.

Liphook Leasehold Conveyancing - A selection of Questions you should ask before buying

Is there a share of the freehold? How many years remain on the lease? Many Liphook leasehold flats will incur a service charge for maintenance of the block invoiced by the landlord. If you acquire the property you will have to meet this liability, usually in instalments during the year. This may vary from a couple of hundred pounds to thousands of pounds for bigger purpose-built buildings. In all likelihood there will be a ground rent for you to pay yearly, this is usually not a exorbitant figure, say approximately £50-£100 but you should to enquire as sometimes it can be prohibitively expensive.