All was ready to complete my purchase in Peak District 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 lender. 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 UK Finance Lenders’ Handbook instructions. These obligations are not limited to conveyancing in Peak District.

I completed on my house on 10 January and the transaction details are still not on the land registry website. Should I be concerned? My conveyancing solicitor in Peak District expressed confidence that it should be formalised in less than a month. Are titles in Peak District particularly slow to register?

As far as conveyancing in Peak District registration is no quicker or slower than anywhere else in England and Wales. As opposed to being determined by geographic area, timescales can differ subject to who lodges the application, whether there are errors and if the Land registry need to notify any other persons or bodies. Currently approximately three quarters of such applications are fully addressed within two weeks but occasionally there can be protracted hold-ups. Registration is effected after the buyer is living at the premises therefore an expedited registration is not always an essential issue yet where it is urgent that the the registration takes place urgently then you or your lawyers should contact the land registry and explain the circumstances.

How does conveyancing in Peak District differ for new build properties?

Most buyers of new build premises in Peak District come to us having been asked by the developer to sign contracts and commit to the purchase even before the house is finished. This is because builders in Peak District typically acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Peak District or who has acted in the same development.

My business partner and I are hoping to take over a lease of a shop on a shopping parade. Can you recommend conveyancers offering fixed charges for commercial conveyancing in Peak District for less than 1500k?

We are happy to recommend firms who host a wealth of experience of commercial conveyancing in Peak District, including the disposal and purchase of businesses as well as simply premises. Whether you are hoping to acquire or sell a shop, pub, restaurant, office, retail unit or a complete business we will find you the right lawyer. As for the charges this will depend on the structure and terms of the deal. Let us have your details or telephone us so that we may furnish you with comprehensive commercial conveyancing calculation.

I work for a reputable estate agent office in Peak District where we have witnessed a number of leasehold sales derailed due to short leases. I have received conflicting advice from local Peak District conveyancing solicitors. Could you clarify whether the owner of a flat can instigate the lease extension process for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, 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 purchaser.

Peak District Conveyancing for Leasehold Flats - A selection of Questions you should ask Prior to buying

It would be prudent to discover as much as possible concerning the company managing the block as they will impact your use and enjoyment of the property. Being a leasehold owner you will be in the clutches of the managing agents from a financial perspective and when it comes to daily issues like the cleanliness of the common parts. Don't be afraid to ask other people if they are happy with their service. On a final note, be sure you understand the dates that you are obliged pay the maintenance charge to the appropriate party and specifically what it includes. Does the lease have onerous restrictions? What is the yearly service fee and ground rent?