All was ready to move into my new home in Romford next Friday. 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 does the insurance need to cover?
Any lawyer 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 Part 2 requirements. These requirements are not unique to conveyancing in Romford.
I am the only recipient of my late mum's estate and I have everything in my name alone, including the my former home in Romford. Conveyancing formalities meant that the Land Registry date was in January. I now wish to sell up. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my property ownership may be regarded the same way as if I'd bought the house in January. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. Most banks would take a sensible view as this requirement is chiefly there to capture subsales or the wholesaling and assigning of properties.
My husband and I are in the process of looking at apartments in Romford and I am about to put in an offer. Is it premature to have a solicitor in place? I will be getting a mortgage with RBS.
You should start obtaining conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the selling agent. Given that you are taking out a mortgage with RBS, ask your prospective lawyers if they are on the RBS conveyancing panel otherwise they can't do the mortgage legal work.
I am due to exchange contracts on my house. I had a double glazing fitted in December 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Aldermore are being a right pain. The Romford solicitor who is on the Aldermore conveyancing panel is saying indemnity insurance will be fine but Aldermore are insisting on a building regulation certificate. Why do Aldermore have a conveyancing panel if they don't accept advice from them?
It is probably the case that Aldermore have referred the matter to their valuer. The reason why Aldermore 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.
The deeds to my property can not be found. The lawyers who conducted the conveyancing in Romford 4 years ago are no longer around. What are my options?
As long as the title is registered the details of your proprietorship will be evidenced by the Land Registry with a Title Number. It is easy to carry out a search at the Land Registry, find your property and obtain current copies of the Registered Entries for less than a fiver. If the property is Leasehold then the Land Registry will also normally retain a file copy of the Registered Lease and again, a copy can be retrieved for £20 inclusive of VAT.
I opted to have a survey done on a house in Romford prior to appointing solicitors. I have been told that there is a flying freehold aspect to the house. My surveyor has said that some lenders tend not give a loan on such a premises.
It varies from the lender to lender. Lloyds has different requirements from Halifax. If you contact us we can investigate further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Romford. Conveyancing may be slightly more expensive based on your lender's requirements.
What is the difference between surveying and conveyancing in Romford?
Conveyancing - in Romford or elsewhere - is the legal term given to transferring legal title of property from one person to another. It therefore includes the checking of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you are buying and will help you discover the condition of the building and, if there are problems, give you a powerful reason for negotiating the purchase price down or asking the vendor to fix the problems prior to you move in.