All was ready to complete my purchase in Corby 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 bank. What risks does the lender 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 Corby.

It is is a decade since I purchased my house in Corby. Conveyancing solicitors have just been instructed on the sale but I can't track down the title documents. Is this a problem?

You need not be too concerned. Firstly the deeds may be with the lender or they could still be with the lawyers who oversaw your purchase. Secondly in all probability the title will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors procuring up to date copy of the land registers. The vast majority of conveyancing in Corby relates to registered property but in the unlikely event that your home is not registered it adds to the complexity but is not insurmountable.

I require quick conveyancing in Corby as I am faced with pressure to exchange contracts inside one month. Thankfully I do not need a mortgage. Is it possible to avoid the conveyancing searches to save fees and time?

As you are not obtaining a mortgage you are at free not to do searches although no law firm would advise that you don't. With lots of history conveyancing in Corby the following are examples of issues that can arise and adversely impact future mortgageability: Enforcement Notices, Overdue Fees, Outstanding Grants, Road Schemes,...

How does conveyancing in Corby differ for newly converted properties?

Most buyers of new build property in Corby approach us having been asked by the seller to sign contracts and commit to the purchase even before the premises is ready to move into. This is because new home sellers in Corby usually purchase 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 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 Corby or who has acted in the same development.

What advice can you give us when it comes to appointing a Corby conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a conveyancer for your lease extension (regardless if they are a Corby conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non Corby conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be of use:

Can they put you in touch with clients in Corby who can give a testimonial?

I acquired a 1st floor flat in Corby, conveyancing was carried out 8 years ago. How much will my lease extension cost? Comparable properties in Corby with a long lease are worth £175,000. The ground rent is £65 charged once a year. The lease comes to an end on 21st October 2083

With 58 years unexpired the likely cost is going to be between £23,800 and £27,400 plus costs.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.