Due to move into my new home in Towcester next Thursday. 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 lender. What does the insurance need to cover?

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

Can you explain why leasehold purchase conveyancing in Towcester costs more?

Towcester leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving relevant notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.

We're in Towcester, FTBs purchasing with a mortgage (lender is , and our lawyer is on the conveyancing panel). How long should the conveyancing process take?

The fact that your lawyer is on the conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.

I am buying a new build flat in Towcester. 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.

Here are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Towcester

Please confirm the Lease plans are surveyor prepared. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Forfeiture - bankruptcy or liquidation must not apply under this provision.

My work colleague mentioned that before selecting a conveyancing solicitors they need approved by your bank. I am new to the process but I have an offer in principle via Nat West Bank and I already have a bricks and morter conveyancing lawyer in Towcester on standby. Will Halifax need an approved lawyer to be used? If so, where can I find that list for my conveyancing in Towcester?

You need to use a solicitor that is on the Halifax panel. The simplest thing to do is ring your chosen Towcester conveyancing lawyer and ask if they are on the Halifax panel. If they are not approved you have numerous alternatives open to you here:

• Complete the purchase with your existing Towcester but Halifax will no doubt use a from their approved panel. This will result in additional fees together with potential delay.
• Appoint a fresh to conduct the conveyancing, ensuring that they are on the Halifax conveyancing panel.
• Convince your to do everything within their powers to get listed on the Halifax conveyancing panel.