I am hoping to move into my new home in Kirkstall next Tuesday. 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 mortgage company expect the insurance 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 UK Finance Lenders’ Handbook conditions. These requirements are not limited to conveyancing in Kirkstall.
My property lawyer in Kirkstall is not listed on the Skipton Building Society Conveyancing Panel. Is it possible for me to continue with my family solicitor notwithstanding that they are not on the Skipton Building Society list of approved lawyers?
The limited options open to you here include:
- Complete the purchase with your preferred Kirkstall solicitors but Skipton Building Society will need to use a lawyer on their list of acceptable firms. This will result in additional total legal charges as well as result in frustration.
- Choose a new practitioner to act in the purchase, not forgetting to check they are on the Skipton Building Society panel
How does conveyancing in Kirkstall differ for newly converted properties?
Most buyers of new build property in Kirkstall contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is ready to move into. This is because builders in Kirkstall typically purchase the land, 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 conveyancing solicitors 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 Kirkstall or who has acted in the same development.
My husband and I are novice buyers - had an offer accepted, but the estate agent has warned us that the owners will only issue a contract if we use the agent's chosen solicitors as they are insisting on an ‘expedited deal’. We would rather use a high street conveyancer with experience of conveyancing in Kirkstall
We suspect that the owner is unaware of this request. If they require ‘a quick sale', turning down a serious buyer is going to damage their objectives. Speak to the vendors direct and explain that (a)you are serious buyers (b)you are ready to go, with finances in place © you have nothing to sell (d) you intend to proceed fast (e)but you intend to instruct your preferred Kirkstall conveyancing solicitors - rather thanthose that will provide the negotiator at the agency a introducer fee or hit his conveyancing thresholds set by corporate headquarters.
Living abroad it is not practicable to be present at my Kirkstall conveyancing solicitors office to sign documents for conveyancing in Kirkstall – will this be an issue?
You need not be concerned. Kirkstall conveyancing solicitors can conduct home moves for clients nationally. It is not necessary for you to be able to be present a Kirkstall conveyancers office. Almost all property lawyer can deal with all communications via phone, post and email - whatever works for you.