All was ready to move into my new home in Prestatyn next Thursday. My solicitor now wants me to supply her with evidence of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the bank. What does the insurance need 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 obligations are not limited to conveyancing in Prestatyn.
Please explain the implications if my lawyer’s firm is suspended from the Skipton Conveyancing panel ahead of completing my conveyancing in Prestatyn?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Due to the advice of my in-laws I had a survey completed on a house in Prestatyn before retaining lawyers. I have been told that there is a flying freehold overhang to the house. Our surveyor has said that some lenders may not issue a mortgage on a flying freehold home.
It varies from the lender to lender. Lloyds has different instructions for example to Birmingham Midshires. If you e-mail us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Prestatyn. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Prestatyn to see if the conveyancing will be more expensive.
In my capacity as executor for the estate of my grandfather I am selling a house in Cardiff but reside in Prestatyn. My conveyancer (who is 235 kilometers from meneeds me to execute a statutory declaration prior to completion. Can you recommend a conveyancing practitioner in Prestatyn who can attest and place their company stamp on the document?
strictly speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Normally any notary public or solicitor will suffice regardless of whether they are Prestatyn based
To what extent are Prestatyn conveyancing solicitors duty bound by the Law Society to supply clear conveyancing costs?
Inbuilt into the Solicitors Code of Conduct are specific rules and regulations as to how the Solicitors Regulation Authority (SRA) allow solicitors to publicise their charges to clients.The Law Society have a practice note giving advice on how to publicise transparent charges to avoid breaching any such rule. Practice notes are not legal advice issued by the Law Society and is not to be interpreted as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, nevertheless, constitute the Law Society’s perspective of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Prestatyn or across England and Wales.