I am hoping to complete my purchase in South Molton next Tuesday. My property lawyer 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 mortgage company. What does the insurance need 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 Part 2 instructions. These obligations are not unique to conveyancing in South Molton.

It is a dozen years since I purchased my home in South Molton. Conveyancing lawyers have now been instructed on the sale but I am unable to find the deeds. Will this cause complications?

You need not be too concerned. First the deeds may be retained by your lender or they may be in the possession of the conveyancers who handled your purchase. Secondly the chances are that the land will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors obtaining current official copies of the land registers. Most conveyancing in South Molton relates to registered property but in the rare situation where your property is unregistered it adds to the complexity but is resolvable.

Taking into account that I will soon spend 450k on a house in South Molton I wish to have a conversation with the solicitor regarding theconveyancing before instructing the firm. Is this something that you can arrange?

This is something that we encourage - it is our preference to talk to you we do not take any clients on without you first talking to the solicitor who will be doing your conveyancing in South Molton.There is no ‘factory style conveyancing’ - each client is an important individual, not a file number. The law firms that we put you in touch with believe that the fees you are quoted for residential conveyancing in South Molton should be the amount on the final invoice that you are charged.

I need to retain a conveyancing solicitor for some conveyancing in South Molton. I happened to discover a site which looks to be the ideal answer If there is a chance to get all the legals done via phone that would be ideal. Should I be concerned? What should out be looking out for?

As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?

In relation to leasehold conveyancing in South Molton what are the most frequent lease problems?

Leasehold conveyancing in South Molton is not unique. Most leases are unique and drafting errors can sometimes mean that certain provisions are not included. 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 will have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Coventry Building Society, and Bank of Ireland all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the buyer to pull out.

South Molton Leasehold Conveyancing - A selection of Queries before Purchasing

Who is in charge of the building? Be sure to discover if there are any onerous prohibitions in the lease. By way of example plenty of leases prohibit pets being allowed in in a block in South Molton. If you like the flatin South Molton however your cat can’t live with you then you will be faced difficult compromise. It is important to be aware whether a new roof is being put on or some other major work is coming up to be shared amongst the leaseholders and will materially increase the the service charges or require a specific payment.