I am hoping to complete my purchase in Fradley 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 risks does the bank expect the insurance to cover?

Any lawyer 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 requirements are not limited to conveyancing in Fradley.

We wanted to use a conveyancing solicitor in Fradley for our house move. Our broker has since advised us that our bank Norwich and Peterborough Building Society won't deal with them. Surely this is unduly restrictive?

Mortgage Companies on the whole restrict either the type or the number of conveyancing practices on their member panel. Typical examples of such criteria being that a law practice must have two or more partners. As well as restricting the type of firm, some have reduced the amount of solicitor practices they use to act for them. Be aware that Norwich and Peterborough Building Society have no responsibility for the quality of advice provided by any member of Norwich and Peterborough Building Society Conveyancer Panel. Mortgage fraud was a primary driver in the reduction of conveyancing panels a few years ago even though there remains mixed opinions concerning the extent of solicitor engagement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms, including some in or near Fradley only perform very few conveyances per annum.

Have purchased a a semi-detached house in Fradley , What is the estimated time for the Land Registry to record my proprietorship? My Fradley conveyancing solicitor works at snail pace, so I want to be sure that my purchase is registered.

As far as conveyancing in Fradley is concerned, registration is no faster or slower than the rest of the country. Rather than based on location, timeframes can adjust according to who lodges the application, whether there are errors and whether the Land registry communicate with any other parties. Currently roughly three quarters of such applications are completed in less than three weeks but occasionally there can be extensive hold-ups. Registration occurs once the new owner is living at the premises therefore 'speed' is not always top priority yet where it is urgent that the the registration takes place urgently then you or your conveyancer must communicate with the Registry to express the reasoning for the application to be prioritised.

Estate agents have just been given the go-ahead to market my basement apartment in Fradley. Conveyancing is yet to be initiated, but I have just received a quarterly service charge invoice – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should pay the maintenance contribution as usual given that all rents and service payments will be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

Fradley Leasehold Conveyancing - A selection of Queries Prior to Purchasing

Be sure to enquire if the the lease includes any onerous restrictions in the lease. For example plenty of leases prohibit pets being allowed in in a block in Fradley. If you love the apartmentin Fradley however your cat is not allowed to live with you then you have a very difficult decision. What is the maintenance charge and ground rent on the flat? It is important to be aware if fixing the lift or some other major work is anticipated to be shared amongst the leasehold owners and will materially impact the level of the service costs or result in a specific payment.

Our solicitor in Fradley has uncovered a defect with the lease for the flat we are buying in Fradley. The seller’s lawyers have offered defective title insurance as a solution. We are content with insurance and will cover the costs. Our lawyer has advised that as he is on the lender conveyancing panel he must be satisfied that the lender is happy with this solution. Who is the client here, us or the bank?

Just because you have a mortgage offer from the bank does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Fradley conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the lender are the client. The appropriate lender requirements have to be complied with by the bank conveyancing panel who has to balance acting for you and the lender