I am hoping to move into my new home in Meir next Friday. My lawyer now wants me to supply her with evidence 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 does the insurance need 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 UK Finance Lenders’ Handbook instructions. These obligations are not specific to conveyancing in Meir.
My aunt passed away six months ago and as sole heir and executor I was left the house in Meir. The house had a relatively small loan remaining of approximately £4500. I want to have the title changed into my name whilst I re-mortgage to Yorkshire BS, pay off the mortgage. Is this allowed?
If you plan to re-mortgage then Yorkshire BS will insist on your using a conveyancer on the Yorkshire BS 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 Yorkshire BS 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 Yorkshire BS mortgage is registered as a charge at the Land Registry.
When it comes to lenders such as Principality, do Meir conveyancing practitioners face an annual charge to be on the conveyancing panel?
We are not aware of any lender fees to register on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
We expect to receive a DIP from Co-operative this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Co-operative recommend any Meir solicitors on the Co-operative conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Meir solicitors independently although you'll need to choose one on the Co-operative conveyancing panel. The solicitor represents both you and Co-operative through the process.
HSBC have agreed my home loan in principle, my bid on a apartment in Meir has been agreed to, what happens next?
Your property agent will want to be informed of your solicitor's details (ensure that the conveyancing practitioners are on the bank’s panel). Contact HSBC or your broker and finalise any appropriate paperwork. HSBC will appoint a valuer who will get in contact with the selling agent or seller to arrange an appointment. Once carried out (assuming no problems) it takes about a week for the mortgage offer to be issued. HSBC will send the offer to you and your lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Meir.
Despite weeks of looking the Title Certificate and documents to my home are lost. The lawyers who dealt with the conveyancing in Meir 4 years ago no longer exist. What are my next steps?
Nowadays there are copies made of almost everything, and your conveyancer will be aware precisely where to locate all the suitable documentation so you can purchase or sell your house without a hitch. Where duplicates can’t be found, your lawyer can put in place insurance or indemnities against possible claims on the property.
I opted to have a survey completed on a house in Meir before appointing lawyers. I have been advised that there is a flying freehold aspect to the house. My surveyor advised that some mortgage companies tend not issue a mortgage on such a home.
It depends who your proposed lender is. HSBC has different instructions from Nationwide. If you contact us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Meir. Conveyancing may be slightly more expensive based on your lender's requirements.