Due to move into my new home in Cornwall next Tuesday. 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 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 conditions. These obligations are not unique to conveyancing in Cornwall.
I have an AIP. The bank mentioned the mortgage came with free conveyancing. Does this mean I have to use their panel conveyancer as I would prefer to instruct a Cornwall based conveyancing firm?
You should check but the the probability is that allocate you one of their panel lawyers where you want the "fee-free" incentive. Speak to the mortgage company and check if they offer you a monetary alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case you could put that amount towards the cost for your conveyancing solicitor in Cornwall.
Me and my brother own a renovated Georgian house in Cornwall. Conveyancing lawyer acted for me and Lloyds TSB Bank. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, the second leasehold under the exact same address. Is it worth asking Lloyds TSB Bank to clarify?
You need to read the Freehold register you have again and check the Charges Register as there may be 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 Cornwall and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the position with your conveyancing solicitor who completed the work.
I was advised by three or four local selling agents in Cornwall to locate a property lawyer on your site. Is there a financial incentive for Estate Agents to market your lawyers rather than a competitor’s?
We refuse to offer any financial incentive for directing people in our direction. We found it would be just too difficult a fee because members of the public would think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
On the look out for a conveyancing solicitor in Cornwall. I did have one sorted but he's not on the panel for Bank of Ireland. It would appear that nowadays most building societies only allow lawyers on their panel. Extremely annoying restricting the choice for the paying public. Please can you refer me to a cheap Cornwall conveyancer that can help us as well as represent Bank of Ireland?
The purpose of this site is restricted to being a directory service for conveyancing practitioners who wish to be listed as being on the approved conveyancing panel for Bank of Ireland in certain locations such as Cornwall . We dont recommend any particular lawyer.