All was ready to complete my purchase in Rickmansworth next Tuesday. My solicitor now wants me to supply her with proof of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the lender. What risks does the lender 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 obligations are not limited to conveyancing in Rickmansworth.
I used Stirling Law a few years ago for my conveyancing in Rickmansworth. I now require my file but cannot find the solicitor. 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 Rickmansworth of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Due to the encouragement of my in-laws I had a survey completed on a house in Rickmansworth before retaining solicitors. I have been told that there is a flying freehold aspect to the house. My surveyor advised that some mortgage companies may refuse to give a loan on a flying freehold property.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Birmingham Midshires. If you e-mail us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Rickmansworth. Conveyancing will be smoother if you use a solicitor in Rickmansworth especially if they are familiar with such properties in Rickmansworth.
Having had my offer accepted I require leasehold conveyancing in Rickmansworth. Before I set the wheels in motion I require certainty as to the remaining lease term.
Assuming the lease is recorded at the land registry - and 99.9% are in Rickmansworth - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Despite our best endeavours, we have been unsuccessful in trying to purchase the freehold in Rickmansworth. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a absentee landlord or where there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the LVT to judgment on the sum to be paid.
An example of a Lease Extension matter before the tribunal for a Rickmansworth residence is Flats 8, 11 and 15 Craigmore Court 46 Murray Road in December 2013. The tribunal held that the price payable by the Applicant tenant of Flat 8 to acquire an extended lease shall be £26,438 plus £1 to the intermediate lessee . The tribunal held that the price payable by the Applicant tenants of Flat 11 to acquire an extended lease shall be £26,791 plus £1 to the intermediate lessee. The tribunal held that the price payable by the Applicant tenant of Flat 15 to acquire an extended lease shall be £26,638 plus £1 to the intermediate lessee . This case related to 3 flats. The unexpired lease term was 71 years.
Do I stop the direct debit for my mortgage with Bank of Ireland once a completion date for my home sale in Rickmansworth has been set?
You are best advised to keep paying any mortgage payments to Bank of Ireland pending the mortgage being redeemed out of the proceeds of sale as part of your Rickmansworth conveyancing.