I am hoping to move into my new home in Llwyngwril next Friday. 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 mortgage company. What risks does the mortgage company expect the insurance 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 conditions. These obligations are not specific to conveyancing in Llwyngwril.
Are the BSA planning on creating a online directory to to identify law firms on the Darlington Building Society conveyancing panel for example in Llwyngwril?
We would not expect to be advised of any intention on the part of the BSA to promote such a tool.
Have just purchased a probate house at auction in Llwyngwril. Conveyancing is necessary. What happens now?
Given that you are now exchanged you should appoint a conveyancing solicitor quickly as you now have a tight deadline in which to complete the purchase. An auction property will have a corresponding legal pack. This will likely include evidence of title and search results. Where you are dealing with leasehold property the legal papers may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork specific to a leasehold property. You need to pass this on to the solicitor working for you at the earliest opportunity. You also need to ensure that you have funds organised to complete on the date specified in the contract.
I have decided to exercise my right to buy my property in Llwyngwril off the council. I have a mortgage agreed with Bank of Ireland. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Bank of Ireland, you will need to appoint a solicitor on the Bank of Ireland conveyancing panel.
About to purchase flat in Llwyngwril. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Santander conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Llwyngwril lawyer is on the Santander conveyancing panel.
I used Arc property Solicitors several years past for my conveyancing in Llwyngwril. Now, I need my files however the law firm is no longer operating. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Llwyngwril of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am purchasing my first flat in Llwyngwril with a loan from Godiva Mortgages Ltd. The sellers would not budge the amount so I negotiated 6k of additionals instead. The sale representative told me not inform my conveyancer about this side-deal as it would adversely affect my loan with Godiva Mortgages Ltd. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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.