Due to move into my new home in Haverhill next Monday. 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 does the insurance need to cover?
Any lawyer on acting for lenders 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 requirements are not limited to conveyancing in Haverhill.
We're in Haverhill, First time buyers buying with a mortgage (lender is Kent Reliance , and our solicitor is on the Kent Reliance conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Kent Reliance conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
My wife and I buying a end of terrace house in Haverhill. Our aim is to convert the garage to a playroom at the house.Will the conveyancing process include checks to determine if these works are allowed?
Your solicitor should review the registered title as conveyancing in Haverhill will sometimes reveal restrictions in the title deeds which prohibit categories of works or need the consent of a 3rd party. Certain additions need local authority planning permissions and approval in compliance with building regulations. Some areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. It would be wise to check these things with a surveyor prior to committing yourself to a purchase.
How can we tell if a Haverhill conveyancing solicitor on the Nottingham panel is any good?
When it comes to conveyancing in Haverhill getting recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the solicitor conducting your transaction.
We expect to receive a DIP from TSB this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do TSB recommend any Haverhill solicitors on the TSB conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Haverhill solicitors independently although you'll need to choose one on the TSB conveyancing panel. The solicitor represents both you and TSB through the process.
How does conveyancing in Haverhill differ for newly converted properties?
Most buyers of new build property in Haverhill approach us having been asked by the seller to sign contracts and commit to the purchase even before the house is completed. This is because builders in Haverhill typically buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Haverhill or who has acted in the same development.
I opted to have a survey done on a house in Haverhill before instructing lawyers. I have been informed that there is a flying freehold overhang to the house. Our surveyor advised that some banks tend refuse to give a mortgage on a flying freehold home.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Halifax. If you contact us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Haverhill. Conveyancing may be slightly more expensive based on your lender's requirements.