Due to move into my new home in North Acton next Thursday. My solicitor 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 bank. What risks does the bank expect the insurance to cover?
Any lawyer 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 requirements. These requirements are not specific to conveyancing in North Acton.
I am considering remortgaging my house in North Acton, does my lawyer need to be on the Barclays Solicitor panel?
In theory, you could use a solicitor that is not on the Barclays conveyancing panel, but Barclays would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
How does conveyancing in North Acton differ for newly converted properties?
Most buyers of new build property in North Acton approach us having been asked by the developer to sign contracts and commit to the purchase even before the property is ready to move into. This is because builders in North Acton typically purchase the site, 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 property lawyers 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 North Acton or who has acted in the same development.
In my capacity as executor for the estate of my grandfather I am selling a house in Cardiff but I am based in North Acton. My conveyancer (who is 300 miles from mehas requested that I execute a stat dec before the transaction finalising. Could you suggest a conveyancing solicitor in North Acton who can witness this legal document for me?
strictly speaking you should not be required to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will do regardless of whether they are North Acton based
Back In 2001, I bought a leasehold flat in North Acton. Conveyancing and Alliance & Leicester mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in North Acton who acted for me is not around. Do I pay?
The first thing you should do is contact HMLR to make sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a North Acton conveyancing practitioner to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Leasehold Conveyancing in North Acton - Sample of Questions you should ask before buying
For many North Acton leaseholds the outlay for major works tend not to be wrapped into the maintenance charges, albeit that there some managing agents in North Acton ask tenants to contribute towards a reserve fund and this is used to offset against larger works. The prefered form of lease arrangement is where the freehold title is in the ownership of the leaseholders. In this scenario the leaseholders enjoy control and notwithstanding that a managing agent is often retained if the building is bigger than a house conversion, the managing agent is directed by the tenants. What is the annual maintenance fee and ground rent?