Due to complete my purchase in Wadebridge next Friday. 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 lender. What does the insurance need to cover?

All property lawyers 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 Wadebridge.

2 months have elapsed since my purchase conveyancing in Wadebridge took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

Am I better off to choose a Wadebridge conveyancing lawyer based in the area that I am buying? We have a good friend who can carry out the conveyancing but his firm is located over three hundred miles away.

The primary upside of using a local Wadebridge conveyancing practice is that you can visit the firm to sign documents, present your ID and apply pressure on them if necessary. Having local Wadebridge know how is a benefit. That being said nothing is more important than finding someone that will do a good and efficient job. If you know people who instructed your friend and they were content that must surpass using an unfamiliar Wadebridge conveyancing solicitor solely due to them being Wadebridge based.

Expecting to complete next month on a leasehold property in Wadebridge. Conveyancing lawyers have said that they are sending me a report next week. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Wadebridge should include some of the following:

specifics of the parties to the lease, for example these could be the (you), superior lessor, landlord Setting out your legal entitlements in relation to the communal areas in the block.For example, does the lease permit a right of way over an accessway or staircase? Who has the liability to repair and maintain the block. It is important for you to know who is responsible the repair and maintenance of every part of the building Whether the lease restricts you from subletting the flat, or working from home The landlord’s rights to access the premises. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided.

I inherited a leasehold flat in Wadebridge, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Wadebridge with a long lease are worth £202,000. The ground rent is £60 per annum. The lease runs out on 21st October 2082

With just 57 years unexpired the likely cost is going to range between £28,500 and £33,000 plus costs.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs without more detailed due diligence. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.

I note that you have a post code search directory identifying solicitors on the mortgage company conveyancing panel. Do Wadebridge conveyancing firms pay you a referral fee if I retain them for my own house purchase?

We are a listing service only for law firms wishing to communicate if they are on the mortgage company conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Wadebridge.