Due to complete my purchase in Belbroughton next Friday. 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 mortgage company expect the insurance to cover?

Any lawyer on acting for mortgage companies 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 specific to conveyancing in Belbroughton.

I completed on my home on 3 July and the transaction details are still not on the land registry website. Should I be concerned? My conveyancing solicitor in Belbroughton said it will be concluded in a couple of weeks. Are transfers in Belbroughton particularly slow to register?

There is nothing unique when it comes to conveyancing in Belbroughton registration formalities. As opposed to being determined by geographic area, timescales can adjust subject to who lodges the application, whether it is in order and if the Land registry communicate with any interested persons or bodies. Currently approximately 80% of such applications are fully addressed in less than three weeks but some can be subject to longer hold-ups. Registration is effected once the buyer is living at the premises therefore an expedited registration is not usually an essential issue but if there is a degree of urgency associated with the registration then you or your solicitor can communicate with the Registry to express the reasoning for the application to be prioritised.

How does conveyancing in Belbroughton differ for newly converted properties?

Most buyers of new build property in Belbroughton approach us having been asked by the developer to sign contracts and commit to the purchase even before the house is built. This is because new home sellers in Belbroughton usually purchase the site, 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 conveyancing solicitors 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 accustomed to new build conveyancing in Belbroughton or who has acted in the same development.

Am I better off to choose a Belbroughton conveyancing solicitor based in the vicinity that I am hoping to buy? An old friend can handle the legal work however they are based approximately 350miles drive away.

The benefit of a high street Belbroughton conveyancing practice is that you can visit the firm to sign paperwork, deliver your ID and pester them if necessary. Having local Belbroughton know how is a plus. However nothing is more important than finding someone that will do a good and efficient job. If other friends have instructed your friend and the majority were impressed that must outweigh using an unknown Belbroughton conveyancing lawyer solely due to them being local.

I am attracted to a two apartments in Belbroughton which have approximately forty five years unexpired on the leases. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease gets shorter the value of the lease deteriorates and it becomes more expensive to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this arena.

I purchased a 1st floor flat in Belbroughton, conveyancing formalities finalised 3 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Belbroughton with over 90 years remaining are worth £176,000. The average or mid-range amount of ground rent is £50 per annum. The lease finishes on 21st October 2105

With just 80 years left to run the likely cost is going to range between £8,600 and £9,800 as well as legals.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.