I am hoping to complete my purchase in Notting Hill 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 lender. 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 UK Finance Lenders’ Handbook instructions. These obligations are not limited to conveyancing in Notting Hill.
Do lawyers request money on account when it comes to conveyancing in Notting Hill?
Where you are retaining lawyers for conveyancing in Notting Hill your lawyer will ask you place them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. If any deposit is as part of the total price then this should be needed immediately in advance of contracts are exchanged. Any further balance that is needed should be sent to your lawyer shortly before completion.
Have just purchased a repossessed house at auction in Notting Hill. Conveyancing is required. What are my next steps?
Given that you have now exchanged you should find a conveyancing practitioner as a matter of priority as you are facing a fast approaching deadline in which to complete the purchase. Every auction property should have a bespoke legal set of papers. This should include most,if not all of the documents that your conveyancer requires. In the case of leasehold premises the conveyancing pack may contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation pertinent to leasehold premises. You should pass this on to your appointed conveyancing solicitor as soon as possible. You also need to ensure that that you have the requisite funding in order to complete on the date specified in the contract.
I have today made my last payment due on my mortgage with Aldermore. I assume I don't need a Notting Hill conveyancer on the Aldermore panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Aldermore mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Aldermore mortgage from the register. Aldermore, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Aldermore has sent the Land Registry the discharge electronically, and
- Aldermore has instructed the Land Registry to do so
I am selling my house. I had a double glazing fitted in July 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Nationwide are being a right pain. The Notting Hill solicitor who is on the Nationwide conveyancing panel is recommending indemnity insurance as a solution but Nationwide are requiring a building regulation certificate. Why do Nationwide have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nationwide have referred the matter to their valuer. The reason why Nationwide may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I opted to have a survey completed on a house in Notting Hill before retaining solicitors. I have been told that there is a flying freehold element to the house. Our surveyor has said that some lenders will refuse to issue a mortgage on such a home.
It depends who your proposed lender is. Santander has different instructions from Nationwide. Should you wish to telephone us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Notting Hill. Conveyancing may be slightly more expensive based on your lender's requirements.
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