Due to move into my new home in Felixstowe next Monday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the mortgage company. What does the insurance need to cover?

All property lawyers 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 instructions. These requirements are not limited to conveyancing in Felixstowe.

Why do I have to pay up front for my conveyancing in Felixstowe?

If you are buying a property in Felixstowe your lawyer will request that you put them with funds to cover the search fees. This will be the total of the cost of the conveyancing searches. When the down payment is as part of the total price then this will be needed shortly in advance of contracts are exchanged. The final balance that is needed should be sent to your lawyer a couple of days prior to the day of completion.

Are there restrictive covenants that are commonly picked up as part of conveyancing in Felixstowe?

Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Felixstowe. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

Hoping to buy a property located in Felixstowe and I am already nervous. I couldn't find anything specific about Felixstowe. Conveyancing will be needed in due course but do you know about the Felixstowe area? or perhaps some other tips you can share?

Rather than looking online forget looking online you should go and have a look at Felixstowe. In the meantime here are some basic statistics that we found

I've found a house that appears to be perfect, at a great figure which is making it all the more appealing. I have since discovered that the title is leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Felixstowe. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Felixstowe ?

The majority of houses in Felixstowe are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are buying in Felixstowe so you should seriously consider shopping around for a Felixstowe conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’spermission to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is part of an estate. Your lawyer will appraise you on the various issues.

Felixstowe Conveyancing for Leasehold Flats - Sample of Questions you should ask before Purchasing

Please note if it is less than 80 years it will affect the marketability of the flat. Check with your mortgage company that they are content with residual term of the lease. Leases with less than 80 years remaining means that you will almost definitely need a lease extension sooner rather than later and it is worth discovering what this would cost. Remember, in most cases you will need to own the property for two years in order to be entitled to extend the lease. Most Felixstowe leasehold flats will be liable to pay a service bill for the upkeep of the building set on behalf of the management company. Should you purchase the apartment you will have to meet this liability, usually quarterly throughout the year. This can vary from a few hundred pounds to thousands of pounds for large purpose-built blocks. There will also be a ground rent to be met yearly, ordinarily this is not a exorbitant figure, say approximately £25-£75 but you need to check as sometimes it can be surprisingly expensive. The answer will be important as a) areas may result in problems for the building as the communal areas may start to deteriorate if services remain unpaid b) if the tenants have a dispute with the running of the building you will need to have all the details