Due to move into my new home in Aldermanbury next Monday. My conveyancing practitioner now wants me to supply her with evidence of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the lender. What does the insurance need to cover?
Any lawyer 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 Part 2 instructions. These obligations are not limited to conveyancing in Aldermanbury.
Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Aldermanbury. My lender is Tesco Bank
Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 7/7/2019, the requirements read as follows :
I have been on the look out for a ground for flat up to £195,000 and found one near me in Aldermanbury I like with a park and transport links nearby, the downside is that it's only got 49 remaining years left on the lease. There is not much else in Aldermanbury for this price, so just wondered if I would be making a grave error buying a short lease?
Should you need a mortgage the shortness of the lease will be an issue. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this matter.
Are there any apps to help locate a Aldermanbury law firm on the Virgin Money conveyancing panel? I have a car and am willing to travel upto 25kilometers to meet the solicitor.
Feel free to make use of the tool on this website. Please choose the bank and your location and you will see a number of Aldermanbury conveyancing lawyers located nearest you. We have listed some Aldermanbury conveyancing firms towards the end of this page and you can contact them to verify whether they are on the Virgin Money panel
In my capacity as executor for the estate of my grandfather I am selling a property in Monmouth but live in Aldermanbury. My conveyancer (who is 200 miles awayrequires that I execute a statutory declaration prior to completion. Can you recommend a conveyancing solicitor in Aldermanbury to witness this legal document for me?
Technically speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or solicitor will be fine regardless of whether they are Aldermanbury based