My mortgage broker has asked me for my Wooburn Green law firm’s panel member for the Lloyds conveyancing panel. How do I obtain this. I have called my local Wooburn Green office but they cant find it on their system.

The sensible thing to do is ask for this information from your Wooburn Green conveyancer . They should have a central record lender panel numbers.

I am hoping to complete my purchase in Wooburn Green next Thursday. 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 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 specific to conveyancing in Wooburn Green.

A relative advised me that where I am buying in Wooburn Green I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?

A search of this type is usually included in the estimate for your Wooburn Green conveyancing searches. It is not a small document of about 40 pages, listing and setting out significant information about Wooburn Green around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Wooburn Green Education with maps and statistics, Local Amenities and other useful information concerning Wooburn Green.

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

Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Wooburn Green. 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…’

I am a negotiator for a reputable estate agent office in Wooburn Green where we have experienced a number of flat sales jeopardised due to short leases. I have received inconsistent advice from local Wooburn Green conveyancing solicitors. Please can you clarify whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.

An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Wooburn Green Leasehold Conveyancing - Sample of Queries before Purchasing

Are any of leasehold owners in arrears of their service charge payments? Is anyone aware of any major works on the horizon that will increase the service costs? Most Wooburn Green leasehold flats will be liable to pay a service charge for maintenance of the block set on behalf of the freeholder. If you purchase the flat you will have to meet this liability, normally in instalments during the year. This may vary from two or three hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. In all probability there will be a ground rent for you to pay yearly, ordinarily this is not a significant amount, say approximately £50-£100 but you should to check as occasionally it can be prohibitively expensive.