All was ready to move into my new home in Bracknell next Monday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the mortgage company. What does the insurance need 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 Bracknell.
We see that you have a post code search directory identifying solicitors on the Co-operative conveyancing panel. Do companies pay you a referral fee if I appoint them for our own conveyancing in Bracknell?
We are a listing service only for law firms wishing to communicate if they are on the Co-operative conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Bracknell.
Me and my brother purchased a terraced Victorian house in Bracknell. Conveyancing solicitor represented me and The Royal Bank of Scotland. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, another for leasehold with the matching property. Is it worth asking The Royal Bank of Scotland to clarify?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bracknell and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the position with your conveyancing lawyer who conducted the conveyancing.
I am buying my first flat in Bracknell with the aid of help to buy. The developers refused to move on the price so I negotiated five thousand pounds worth of additionals instead. The estate agent told me not inform my conveyancer about this side-deal as it will put at risk my loan with Skipton Building Society. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
My husband and I are first time buyers - agreed a price, but the selling agent told us that the vendor will only issue a contract if we appoint the agent's recommended solicitors as they need a ‘quick sale’. My instinct tells me that we should use a local solicitor with experience of conveyancing in Bracknell
It is highly unlikely the vendors are driving this. Should the seller desire ‘a quick sale', taking such a hostile approach to a genuine buyer is is going to put the whole deal at risk. Contact the vendors directly and make the point that (a)you are keen to buy (b)you are ready to progress, with finances arranged © you are unencumbered (d) you intend to proceed fast (e)however you are going to appoint your preferred Bracknell conveyancing firm - not the ones that will provide the estate agent a referral fee or hit his conveyancing targets set by head office.