Due to move into my new home in Kendal next Tuesday. My lawyer now wants me to supply her with proof of content and building insurance for the property as as she informs me that she is duty bound to validate that it is in order for the lender. 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 Kendal.
I am buying a property and need a conveyancing solicitor in Kendal who is on the Godiva Mortgages Ltd solicitor. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Godiva Mortgages Ltd in certain locations such as Kendal. We dont recommend any particular firm.
I'm buying a new build house in Kendal with a mortgage from Clydesdale. The builders refused to move on the amount so I negotiated five thousand pounds worth of additionals instead. The property agent suggested that I not reveal to my conveyancer about this extras as it will impact my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I opted to have a survey done on a house in Kendal before instructing conveyancers. I have been told that there is a flying freehold element to the house. My surveyor has said that some banks will refuse to grant a mortgage on a flying freehold premises.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Nationwide. If you e-mail us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Kendal. Conveyancing may be slightly more expensive based on your lender's requirements.
Are you able to set out the scope of conveyancing provided by Kendal conveyancing firms?
By and large Kendal conveyancing firms will carry out a wide array of legal advice to domestic and agricultural land owners, vendors, buyers, freeholders and tenants and you can expect them to offer expert advice on some of the following services:
Home sale conveyancing in Kendal and nationwide
Residential purchase conveyancing in Kendal and further afield
Shariah Compliant Finance including sales, purchases and refinances All types of leasehold premises including, apartments and maisonettes Planning and boundary enquiries Staircasing where you are buying an additional or final share in a shared ownership home