I am hoping to complete my purchase in Hornsea next Tuesday. My lawyer now wants me to supply her with evidence of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the mortgage company. What does the insurance need to cover?
All property lawyers 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 Part 2 requirements. These obligations are not unique to conveyancing in Hornsea.
It is a dozen years since I purchased my property in Hornsea. Conveyancing lawyers have now been instructed on the sale but I am unable to find the title deeds. Will this jeopardise the sale?
You need not be too concerned. Firstly there is a chance that the deeds will be with the mortgage company or they may be archived with the solicitor who oversaw the purchase. Secondly in all probability the property will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors obtaining current official copies of the land registers. The vast majority of conveyancing in Hornsea relates to registered property but in the unlikely event that your home is not registered it is more problematic but is not insurmountable.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Hornsea. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Hornsea
Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.
I opted to have a survey carried out on a property in Hornsea before retaining solicitors. I have been informed that there is a flying freehold overhang to the property. My surveyor advised that some mortgage companies will refuse to give a mortgage on a flying freehold house.
It varies from the lender to lender. HSBC has different requirements from Halifax. Should you wish to telephone us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Hornsea. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Hornsea to see if the conveyancing will be more expensive.
My step-father has urged me to use his conveyancers in Hornsea. Should I use them?
There are no two ways about it the best way to choose a conveyancing solicitor is to seek feedback from friends or relatives who have used the conveyancer that you are considering.