All was ready to complete my purchase in Freshwater Bay next Thursday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the lender. What risks does the mortgage company 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 UK Finance Lenders’ Handbook instructions. These requirements are not unique to conveyancing in Freshwater Bay.
We are due to move property in June. Will my conveyancing solicitor communicate with the removal company on the completion day. As an aside, can you recommend a removal company in Freshwater Bay. Conveyancing firm was found before I stumbled across this website.
On the afternoon of completion you will need to pick up the house keys from your estate agent but this should only happen after the previous owners conveyancers inform the agent that the monies to complete are in and the keys can be released. Subsequently you will need to advise the removal men that you are ready to move in. As a matter of policy we do not suggest a particular removal organisation but can help you find a residential property solicitor in Freshwater Bay or a legal practice that specialises in conveyancing in Freshwater Bay.
I am buying a terrace house in Freshwater Bay. We would like to carry out a loft conversion at the property.Will legal work on the property include investigations to ascertain if these works are allowed?
Your property lawyer should check the registered title as conveyancing in Freshwater Bay can occasionally reveal restrictions in the title deeds which prevent categories of changes or need the consent of a 3rd party. Some additions need local authority planning consent and approval in accordance building regulations. Certain areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. It would be prudent to check these things with a surveyor ahead of any purchase.
I recently had an offer agreed on a house in Freshwater Bay. My financial adviser recommended their conveyancers. I paid an upfront payment of £175. Not long after, the solicitor contacted me embarrassingly acknowledging that they were not on the TSB conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the TSB panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Should my lawyer be asking questions about flooding during the conveyancing in Freshwater Bay.
Flooding is a growing risk for conveyancers carrying out conveyancing in Freshwater Bay. Some people will buy a house in Freshwater Bay, fully aware that at some time, it may suffer from flooding. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Solicitors are not best placed to give advice on flood risk, but there are a number of checks that may be carried out by the buyer or by their solicitors which will give them a better appreciation of the risks in Freshwater Bay. The standard property information forms given to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard question of the vendor to determine if the property has historically flooded. If the residence has been flooded in past and is not disclosed by the vendor, then a buyer could bring a compensation claim as a result of such an incorrect reply. The buyer’s conveyancers should also conduct an enviro search. This will higlight whether there is a recorded flood risk. If so, additional investigations should be initiated.
I have been on the look out for a flat up to £195,000 and identified one near me in Freshwater Bay I like with amenity areas and railway links in the vicinity, however it only has 49 remaining years left on the lease. I can't really find anything else in Freshwater Bay in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a mortgage the remaining unexpired lease term will likely be problematic. Discount the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of 2 years you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
I am a sole trader planning to lease a unit on the high street. Can you recommend conveyancers offering no-sale-no charges for commercial conveyancing in Freshwater Bay for less than £1,200?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Freshwater Bay, including the disposal and purchase of businesses as well as simply premises. If you are intending to purchase or lease a shop, pub, restaurant, office, retail unit or a whole business we can put you in touch with the right lawyer. Regarding the fees these will vary based on the structure and complexity of the deal. Let us have your contact information or email so as to enable us to furnish you with a detailed commercial conveyancing quote.