I am hoping to complete my purchase in Ruddington next Thursday. My conveyancer now wants me to supply her with evidence 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 mortgage company. 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 UK Finance Lenders’ Handbook instructions. These requirements are not specific to conveyancing in Ruddington.
I have a 4 bedroom Georgian house in Ruddington. Conveyancing solicitor represented me and Birmingham Midshires. I did a free Land Registry search last week and there are two entries: one for freehold, the second leasehold under the exact same property. I thought I was buying a freehold how can I check?
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Ruddington and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the position with the conveyancing solicitor who conducted the purchase.
I'm purchasing my first flat in Ruddington with a mortgage from Chelsea Building Society. The developers would not budge the amount so I negotiated £7000 of additionals instead. The sale representative told me not inform my conveyancer about the side-deal as it would impact my mortgage with Chelsea Building Society. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
In what way does the Landlord & Tenant Act 1954 affect my commercial offices in Ruddington and how can your lawyers assist?
The 1954 Act gives security of tenure to business leaseholders, giving them the dueness to apply to court for a continuation of occupancy at the end of an expired lease. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Ruddington is one of the many areas of the UK in which our lawyers are based
My husband and I are 18 days into a freehold purchase having been recommend to solicitors by the selling agent to carry out the conveyancing in Ruddington. We are not happy. Can you you assist me in finding new conveyancers?
They would need to be very poor to suggest replacing them. Has the mortgage offer been generated? If so you must make them aware of the new contact details and get the mortgage documents are re-issued. Your solicitor ideally needs to be on the lenders panel to avoid added costs and complications. So that should be your first question of the new conveyancers. Our find a solicitor tool will help you find a lender approved lawyer for your conveyancing in Ruddington