Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Crickhowell. My lender is Nationwide Building Society
Nationwide Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 18/2/2019, the requirements read as follows :
Me and my partner are buying a apartment in Crickhowell. It might be a silly question but how we can trust a solicitor? On completion day we will need to put funds into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I have paid off my mortgage with RBS. I assume I don't need a Crickhowell solicitor on the RBS panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your RBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the RBS mortgage from the register. RBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where RBS has sent the Land Registry the discharge electronically, and
- RBS has instructed the Land Registry to do so
I currently have a mortgage with Coventry BS for my property in Crickhowell. Conveyancing was finalised 12 months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Coventry BS?
Your original mortgage agreement with Coventry BS will provide that you need their approval in advance of letting out your property as this is likely to be a breach of Coventry BS’s mortgage conditions. It may be that Coventry BS will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Coventry BS directly. You need not do this via a Coventry BS conveyancing panel lawyer.
I am purchasing a property and the lawyer has mentioned Chancel Repair to which the property may be liable given it’s proximity to the area of such a church. She has mentioned insurance. Is this really required for conveyancing in Crickhowell
Unless a previous purchase of the house completed after 12 October 2013 you may expect lawyers handling conveyancing in Crickhowell to continue to propose a a chancel search and or chancel repair liability insurance.
I decided to have a survey completed on a house in Crickhowell before appointing lawyers. I have been advised that there is a flying freehold aspect to the house. My surveyor has said that some mortgage companies may not give a mortgage on a flying freehold property.
It depends who your proposed lender is. HSBC has different requirements from Birmingham Midshires. Should you wish to telephone us we can investigate further with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Crickhowell. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Crickhowell to see if the conveyancing costs will increase in light of this.
I bought a house in Crickhowell last 20/12/2017 and to date it is still not recorded with HM Land Registry. It was part of a new estate and my property lawyer told me that it may take twelve months to complete the registration formalities. I have called HM Land Registry directly and they have informed me the initial application was cancelled due to failure to reply to requisitions. Do I need to be concerned?
It is your conveyancer that you really need to get in touch with in order to satisfy any issues which have been raised as part of the registration formalities for your Crickhowell property. Normal Crickhowell conveyancing practice includes an undertaking on the part of the previous owner’s conveyancer that they will help resolve any requirements raised by HMLR so it may be a case of taking action to enforce that undertaking in some way.