I am hoping to move into my new home in Risca next Tuesday. 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 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 conditions. These obligations are not unique to conveyancing in Risca.

I have justdiscovered that Wolstenholmes have closed. They conducted my conveyancing in Risca for a purchase of a freehold house 9 months ago. How can I establish that the property is in my name in the name of the previous owner?

The easiest way to see if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Risca conveyancing specialists.

The estate agent has sent us the confirmation of our purchase of a new build apartment in Risca. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.

Set out below are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Risca

Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Please supply a car parking plan. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.

Looking forward to complete next month on a garden flat in Risca. Conveyancing solicitors assured me that they are sending me a report on Monday. What should I be looking out for?

The report on title for your leasehold conveyancing in Risca should include some of the following:

Changes to the property You should be informed what constitutes a Nuisance as far as the lease is concerned Specifying your legal entitlements in respect of the communal areas in the block.E.G., does the lease include a right of way over an accessway or staircase? The landlord’s rights to access the property. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided. Responsibility to repair and maintain the block. It is essential that you know who is responsible the repair and maintenance of all parts of the block and communal areas

Risca Conveyancing for Leasehold Flats - Examples of Queries Prior to buying

On the whole the outlay for major works tend not to be included within service charges, albeit that a few managing agents in Risca obliged leasehold owners to pay into a reserve fund created for the specific purpose of establishing a fund for larger works. Is anyone aware of any major works on the horizon that will likely increase the service charges? You should be aware that where the lease has fewer than eighty years it will have adverse implications on the marketability of the property. Check with your mortgage company that they are willing to lend given the lease term. Leases with fewer than 80 years remaining means that you will almost definitely have to extend the lease at some point and you need to have some idea of how much this will be. For most Riscalease extensions you would need to own the residence for a couple of years before you are entitled to exercise a lease extension.

I am buying a leasehold flat in Risca. Conveyancing estimates are averaging around £1650. Is that reasonable?

The average cost last year for conveyancing in Risca was £1,419 excluding Stamp Duty and HM Land Registry charges.