Due to move into my new home in Faversham next Friday. My solicitor now wants me to supply her with proof of content and building insurance for the property as as she informs me that she is duty bound to validate that it is in order for the mortgage company. What does the insurance need to cover?
All property lawyers on acting for mortgage companies 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 instructions. These obligations are not limited to conveyancing in Faversham.
We are looking to buy a house and need a conveyancing solicitor in Faversham who is on the Nationwide approved panel. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Nationwide . We don't recommend any particular firms conducting conveyancing in Faversham.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Faversham?
There are two types of lawyers who can conduct conveyancing in Faversham namely licenced conveyancers or solicitors. The two can administer conveyancing services that you need to complete the disposal or purchase of property. Both are duty bound to conduct Faversham conveyancing on similar standards and guidelines so you can be sure that your conveyancing will be professionally administered and that the requisite procedures will be appropriately followed.
I happen to be the single recipient of my late mum's will and I have everything in my name alone, including the house in Faversham. The Faversham property was put into my name in October. I want to move. I do know about the CML 6 month 'rule', meaning my proprietorship may be regarded the same way as though I had purchased the house in October. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be affected by that. How practical a view mortgage companies take of it, depend on the lender as this clause is principally there to identify the purchase and immediately sell or the wholesaling and assigning of property.
At last I have had an offer on an apartment in Faversham accepted, but there is a chain. The vendors have put an offer on somewhere, but it’s not yet agreed to, and are looking at other properties booked. I have selected a local conveyancing solicitor in Faversham. What do I do now? At what stage do I apply for the mortgage with Kent Reliance?
It is understandable to have concerns where there is a chain as you are unlikely to want to incur expenses too early (mortgage application is approx £1k, then valuation, Faversham conveyancing search costs, etc). The first course of action is to check that your solicitor is on the Kent Reliance approved list. Regarding the next phase this very much dictated by the uniqueness of your case, attraction to this property and on the state of the market. In a buoyant market many home buyers would apply for the mortgage with Kent Reliance and pay for the valuation and only if it was satisfactory would they ask their property lawyer to move forward with the conveyancing in Faversham.
It has been four months since my purchase conveyancing in Faversham completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
What does commercial conveyancing in Faversham cover?
Faversham conveyancing for business premises covers a broad array of advice, offered by qualified solicitors, relating to business premises. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.