Am I correct in assuming that the fact that my conveyancer in Kidsgrove is not on my lender's conveyancing panel that there is a problem with the quality of her work?
That is more than likely a wrong assumption to make. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should simply call the Kidsgrove conveyancing practice and enquire why they are no longer on the approved list for your bank.
Due to complete my purchase in Kidsgrove next Monday. 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 does the insurance need to cover?
All property lawyers 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 specific to conveyancing in Kidsgrove.
My grandmother passed away 10 months ago and as sole heir and executor I was left the property in Kidsgrove. The house had a relatively small loan left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to UBS, pay off the mortgage. Is this possible?
If you intend to refinance then UBS will insist on your using a conveyancer on the UBS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your UBS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the UBS mortgage is registered as a charge at the Land Registry.
I have been told that property searches are a common reason for delay in Kidsgrove house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not figure amongst the common causes of hindrances in the conveyancing process. Searches are unlikely to be the root cause of delay in conveyancing in Kidsgrove.
Are there common problems that you witness in leases for Kidsgrove properties?
There is nothing unique about leasehold conveyancing in Kidsgrove. All leases are drafted differently and drafting errors can sometimes mean that certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:
A duty to insure the building Repairing obligations to or maintain parts of the property
You may have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, The Mortgage Works, and Platform Home Loans Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the buyer to pull out.
Leasehold Conveyancing in Kidsgrove - Sample of Questions you should ask before Purchasing
Make sure you discover if there is anything that is prohibited in the lease. By way of example plenty of leases prohibit pets being allowed in in a block in Kidsgrove. If you like the flatin Kidsgrove but your cat can’t live with you then you will be faced difficult decision. This question is helpful as a) areas may cause problems for the block as the common areas may start to deteriorate where repairs are not paid for b) if the leaseholders have a dispute with the running of the building you will want to know about it Who is in charge of the block?