All was ready to complete my purchase in Aldridge next Tuesday. 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 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 Part 2 conditions. These obligations are not unique to conveyancing in Aldridge.
Having sold my house in Aldridge last August yet the purchaser is e-mailing me to say his solicitor is waiting to hear from mine. What should my lawyer have done following completion?
Post completion of your sale your conveyancer is committed to deliver the transfer deeds and all additional paperwork to the purchaser's conveyancer. If applicable, your lawyer should also evidence that the mortgage has been discharged to the purchasers lawyers. There are no post completion steps peculiar conveyancing in Aldridge.
Is it the case that all Aldridge solicitors on the Barclays conveyancing panel are overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Barclays conveyancing panel they would need to be overseen by the Solicitors Regulatory Authority. The majority of mortgage companies do allow licenced conveyancers on their panel in which case such practice would be overseen by the Council of Licensed Conveyancers.
The formalities of my purchase has taken place for my property in Aldridge. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
All lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. We understand that complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I am due to exchange contracts on my house. I had a double glazing fitted in December 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Barclays are being pedantic. The Aldridge solicitor who is on the Barclays conveyancing panel is saying indemnity insurance will be fine but Barclays are requiring a building regulation certificate. Why do Barclays have a conveyancing panel if they don't accept advice from them?
It is probably the case that Barclays have referred the matter to their valuer. The reason why Barclays may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
How does conveyancing in Aldridge differ for newly converted properties?
Most buyers of new build residence in Aldridge approach us having been asked by the seller to exchange contracts and commit to the purchase even before the house is finished. This is because developers in Aldridge usually acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Aldridge or who has acted in the same development.
What could I expect to pay for conveyancing in Aldridge?
The total sum levied for conveyancing in Aldridge can vary significantly from lawyer to lawyer. Given these differences it especially important that you find this out before you instruct a lawyer. It is advisable to find three or four fee estimate.