All was ready to move into my new home in Blackley next Thursday. My lawyer now wants me to supply her with proof of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the bank. 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 Part 2 requirements. These obligations are not specific to conveyancing in Blackley.
Are the Blackley conveyancing solicitors identified as being on the Leeds Building Society conveyancing panel, together with their details provided by Leeds Building Society?
Blackley conveyancing firms themselves provide us confirmation that they are on the Leeds Building Society conveyancing panel as opposed to being supplied with a list from Leeds Building Society directly.
Does a directory service exist listing Santander panel solicitors in Blackley on the Council of Mortgage Lender’s Website?
No. There is no such tool on the CML or Building Society Association websites. Very few lenders make their panel listings available online. If you are in need of a Blackley conveyancing practitioner on the Santander please make the most of our facility.
I have paid off my mortgage with RBS. I assume I don't need a Blackley solicitor on the RBS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your RBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the RBS mortgage from the register. RBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where RBS has sent the Land Registry the discharge electronically, and
- RBS has instructed the Land Registry to do so
My sealed bid on a detached house in Blackley has been accepted, but there is a chain. The owners have put an offer on on an apartment, but it’s not yet tied up, and are looking at other apartments in the pipeline. I have instructed a bricks and mortar conveyancing solicitor in Blackley. What should be my next step? When should I get the mortgage application with TSB started?
It is normal to have concerns where there is a chain as you are unlikely to want to incur expenses too early (mortgage application is in the region of one thousand pounds, then valuation, Blackley conveyancing search costs, etc). The first course of action is to check that your conveyancer is on the TSB conveyancing panel. As to the next steps this very much dictated by the circumstances of your case, attraction to this property and on the state of the market. During a hot market some purchasers would apply for a home loan with TSB and arrange for the valuation and only if it comes back ok would they ask their conveyancing practitioner to move forward with the conveyancing in Blackley.
I am looking for a ground for flat up to £305k and found one round the corner in Blackley I like with open areas and station in the vicinity, the downside is that it's only got 61 years on the lease. I can't really find anything else in Blackley in this price bracket, so just wondered if I would be making a mistake buying a short lease?
If you require a mortgage that many years will likely be problematic. Discount the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this.
I pay a maintenance contribution for my property in Blackley. Due to redundancy and personal issues I slipped behind with payments. The management company agreed a clearance plan but there remains two currently due.
I want to sell and I am worried this will hold me back if I have to settle the amount due now. Do I have to settle before - is this achievable?
It would be wise to clarify with the solicitor carrying out your Blackley conveyancing but it might be possible to arrange for the arrears to be transferred to the purchasers. The purchase price due would be reduced to reflect the amount of debt they take on. They could then pay the outstanding monies post completion of the sale.