All was ready to complete my purchase in Great Baddow next Thursday. 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 lender expect the insurance 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 Part 2 instructions. These obligations are not unique to conveyancing in Great Baddow.
We have a mortgage agreed in principle with Aldermore. Great Baddow conveyancing lawyers were instructed. What is the average time that one could expect to receive a mortgage offer from Aldermore?
Some lenders take longer than others. Have Aldermore done the survey? Have you informed Aldermore as to your lawyers' details and checked that your lawyers are on the Aldermore conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I am purchasing a property in Great Baddow. One unusual aspect is that the roof has a solar panel. Nottingham have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Nottingham your lawyer must follow the formal requirements set out in Section 2 of UK Finance Lenders’ Handbook for Nottingham. The CML Handbook sets out minimum provisions for solar panel roof-space leases, and solicitors are required to report to Nottingham where a lease does not comply with these provisions. The conditions relate to the installation of panels on properties in England and Wales and is not isolated to Great Baddow.
I have paid off my mortgage with Virgin Money. I assume I don't need a Great Baddow conveyancer on the Virgin Money panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Virgin Money 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 Virgin Money mortgage from the register. Virgin Money, 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 Virgin Money has sent the Land Registry the discharge electronically, and
- Virgin Money has instructed the Land Registry to do so
I own a semi-detached Georgian house in Great Baddow. Conveyancing practitioner represented me and Skipton Building Society. I did a free Land Registry search last week and I saw two entries: the first freehold, the second leasehold with the exact same property. I'd like to know for sure, how can I find out??
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Great Baddow and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with the conveyancing solicitor who carried out the work.
I am using a search engine for the words on line conveyancing in Great Baddow it reveals numerous conveyancersin the vicinity. How do I determine which is the suitable property lawyer for my move?
The ideal method of choosing a suitable conveyancer is through a trusted testimonial, so seek the opinion of colleagues and those you trust who have purchased a property in Great Baddow or a respected estate agent or mortgage broker. Costs for conveyancing in Great Baddow differ, so it's sensible to obtain at least four fee estimates from varying types of property lawyers. Make sure that you know that the fees are fixed.
The property lawyers carrying out our conveyancing in Great Baddow has forwarded documents to review that reveal that the property is unregistered with epitome documents. Surely all properties in Great Baddow are registered?
Over ninety percent of property in Great Baddow is registered. An 'epitome' is basically a dossier of photocopies of documents affecting an unregistered title. Plenty of Great Baddow conveyancing solicitors should be capable of dealing with such matters but if any uncertainty reigns the usual proposition these days is for the vendor’s solicitor to undertake the registration formalities first and subsequently sell - this will have a domino effect to cause a significant delay.