Due to complete my purchase in Cannock next Monday. 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 lenders 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 requirements. These requirements are not limited to conveyancing in Cannock.

In what way does my ID and proof of funds have anything to do with my conveyancing in Cannock? What am I being asked for?

Cannock conveyancing solicitors and indeed property lawyers accross the UK have a duty under money laundering regulations to check the identity of any client with a view to satisfy themselves that clients are who they say they are.

Conveyancing clients will need to supply two forms of certified identification; proof of identity (usually a Passport or Driving Licence) and proof of address (usually a Bank Statement less than 3 months old).

Evidence of source of funds is also required under the money laundering laws as lawyers have a duty to check that the money you are using to acquire a property (be it the exchange deposit or the total purchase monies if you are a cash purchaser) has originated from an acceptable source (such as employment savings) rather than the product of illegitimate activity.

Do commercial conveyancing searches disclose impending roadworks that could affect a commercial estate in Cannock?

Its becoming the norm that commercial conveyancing solicitors in Cannock will carry out a SiteSolutions Highways report as it reduces the time that conveyancers invest in looking into accurate data on highways that impact buildings and development assets in Cannock. The search result provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Cannock.

For every commercial conveyancing transaction in Cannock it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately may cause delays to Cannock commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not conducted for residential conveyancing in Cannock.

I've recently found out that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a simple, chain free conveyancing. Cannock is the location of the property. Can you shed any light on this issue?

Flying freeholds in Cannock are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Cannock you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cannock may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.

My wife and I purchased a leasehold house in Cannock. Conveyancing and Bank of Scotland mortgage organised. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Cannock who acted for me is not around. Any advice?

First make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Cannock conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Cannock Conveyancing for Leasehold Flats - A selection of Questions you should consider before Purchasing

The best form of lease arrangement is where the freehold title is owned by the leaseholders. In this situation the leaseholders benefit from being in charge if their destiny and although a managing agent is usually retained if the building is bigger than a house conversion, the managing agent retained by the leaseholders. Plenty Cannock leasehold properties will have a service bill for maintenance of the building levied by the freeholder. Should you buy the flat you will have to meet this amount, usually quarterly during the year. This could differ from several hundred pounds to thousands of pounds for bigger purpose-built buildings. In all likelihood there will be a rentcharge to be met yearly, normally this is not a large amount, say about £50-£100 but you need to enquire it because sometimes it could be prohibitively expensive. Is the freehold owned collectively by the tenants?