I am in need of a property lawyer. Do I opt for a national conveyancer rather than a family Malmesbury conveyancing solicitor?

Established third party relationships is an important consideration when appointing conveyancing lawyers. Malmesbury conveyancers benefit from connections with lenders and agents, local authorities, valuers and other law firms meaning the whole process is going to be much more straightforward for you. Possessing a wealth of intelligence of the local area is also a plus .

All was ready to complete my purchase in Malmesbury next Tuesday. My conveyancer now wants me to supply her with evidence of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the mortgage company. What risks does the bank expect the insurance 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 UK Finance Lenders’ Handbook conditions. These obligations are not limited to conveyancing in Malmesbury.

Over the last few months I have been searching for a ground for flat up to £305k and identified one close by in Malmesbury I like with a park and railway links nearby, however it's only got 51 years on the lease. There is not much else in Malmesbury in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?

If you need a mortgage the remaining unexpired lease term will likely be problematic. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for at least twenty four months you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.

Can you provide any top tips for leasehold conveyancing in Malmesbury with the purpose of expediting the sale process?

• Much of the delay in leasehold conveyancing in Malmesbury can be bypassed where you instruct lawyers the minute you market your property and request that they start to collate the leasehold information needed by the purchasers’ representatives.
You believe that you know the number of years left on your lease but it would be wise to verify this by asking your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is under 75 years. It is therefore important at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. If there is a history of any disputes with your freeholder or managing agents it is essential that these are settled prior to the flat being marketed. The purchasers and their solicitors will be nervous about purchasing a property where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic as opposed to ongoing. The majority of freeholders or managing agents in Malmesbury charge for supplying management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management information sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Malmesbury.

Malmesbury Leasehold Conveyancing - Sample of Questions you should ask before Purchasing

Does this lease have in excess of 80 years left? The answer will be helpful as a) areas can cause problems in the building as the common areas may start to deteriorate where maintenance are not paid for b) if the tenants have a dispute with the running of the building you will want to know about it It would be sensible to discover as much as you can concerning the managing agents as they can either make life much easier or problematic. As the owner of a leasehold property you are frequently at the mercy of the managing agents from a financial perspective and when it comes to every day issues like the tidiness of the common parts. Ask other tenants if they are happy with them. On a final note, investigate as to the dates that the maintenance charges are due to the managing agents and precisely what it includes.

Two months into purchasing a residence in Malmesbury. Conveyancing solicitor has told us the property is "Leasehold". Does this impact our HSBC valuation?

Malmesbury conveyancing does not in most situations involve leasehold houses. The key factor here is the length of lease and the ground rent. If there are over a hundred years remaining with a nominal rent, it's virtually freehold, so it shouldn't impact the marketability too much.

On the flip side, if it's, say, 50 years it is bound to have a adverse impact on the saleability, and probably wouldn't be mortgageable. The length of lease and ground rent will be specified in the lease to be supplied to your lawyer.