All was ready to complete my purchase in Corsham next Tuesday. My solicitor now wants me to supply her with evidence of content and building insurance for the property as as she informs me that she is duty bound to validate that it is in order for the mortgage company. What risks does the lender expect the insurance to cover?
All property lawyers on acting for lenders 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 obligations are not unique to conveyancing in Corsham.
Is there a search tool that I can use to check that the solicitor carrying out my conveyancing in Corsham is on the mortgage lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Coventry Building Society thus spending £175.00 in further legal costs.
Please do make the most of the search tool on this page. Please choose the mortgage company and type ‘Corsham’ or your location and you will see numerous solicitors located in Corsham or by proximity to you.
I am purchasing a house and the conveyancer has referenced Chancel Repair to which the property may be obligated to contribute to given it’s proximity to the area of such a church. He has suggested insurance. Is this really required for conveyancing in Corsham
Unless a prior acquisition of the premises took place post 12 October 2013 you can take it that conveyancing practitioners conducting conveyancing in Corsham to continue to propose a a chancel search and or insurance against a claim.
Yesterday I discovered that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a simple, no chain conveyancing. Corsham is the location of the property. Can you offer any assistance?
Flying freeholds in Corsham are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Corsham you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Corsham may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Should I use a Corsham conveyancing solicitor in close proximity to the house I am hoping to buy? We have a good friend who can handle the legal work however his firm is located approximately 350miles away.
The benefit of a local Corsham conveyancing practice is that you can visit the firm to execute paperwork, hand in your identification documents and apply pressure on them where appropriate. Having local Corsham know how is a bonus. However nothing is more important than finding someone that will pull out all the stops for you. If other friends have used your friend and in the main were happy that must outweigh using an unknown Corsham conveyancing lawyer just because they are based in the area.