I am hoping to move into my new home in Crowborough next Monday. My conveyancing practitioner now wants me to supply her with proof of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the bank. What does the insurance need to cover?
Any lawyer 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 UK Finance Lenders’ Handbook requirements. These obligations are not limited to conveyancing in Crowborough.
My lawyer has informed me that lack of right of way insurance is needed on my purchase. What is the level of cover for Crowborough conveyancing?
The appropriate level of lack of right of way indemnity insurance depends on your lender. It would differ for example between Yorkshire Building Society and The Royal Bank of Scotland. Conveyancing lawyers as opposed to borrowers take out such insurances.
Last month we had a mortgage agreed in principle with Virgin Money. Crowborough conveyancing practitioners have been instructed. How long does it take for Virgin Money to issue the offer to the solicitor?
Some lenders take longer than others. Have Virgin Money conducted the valuation? Have you advised Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
My offer was accepted on an apartment in Crowborough on 1/12/2021, valuation was booked 3 days later, received a clean bill of health. Solicitor appointed, so the only thing outstanding was my mortgage offer. Having made daily calls to Skipton and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Skipton conveyancing panel. Are Skipton entitled to hold back the Mortgage pending the lawyer being on the approved list?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Skipton to deal with your lawyer's application to be on the Skipton conveyancing panel. There's no guarantee that your solicitor will be accepted.
I require quick conveyancing in Crowborough as I have a deadline to sign on the dotted line within 3 weeks. Luckily I do not require a mortgage. Can I decline from having conveyancing searches to save fees and time?
If.Given you are not obtaining a home loan you are at liberty not to do searches although no solicitor would advise that you don't. With lots of history conveyancing in Crowborough the following are instances of what can show up and adversely impact the marketability of the property: Refused Planning Applications, Outstanding Charges, Outstanding Grants, Railway Schemes,...
Are there restrictive covenants that are commonly picked up during conveyancing in Crowborough?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Crowborough. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
My step-father has suggested that I use his conveyancers in Crowborough. Should I use them?
No doubt the best way to choose a conveyancing solicitor is to have feedback from friends or relatives who have used the solicitor you're considering.