I have been advised by my conveyancer that breach of easement insurance is required on my purchase. What is the level of cover for Somerset conveyancing?
The right level of breach of easement indemnity insurance depends on who your lender is. It would differ for example between HSBC Bank and The Mortgage Works. Conveyancing solicitors as opposed to members of the public take out such insurances.
I am due to exchange contracts on my apartment. I had a double glazing fitted in June 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, TSB are being problematic. The Somerset solicitor who is on the TSB conveyancing panel is saying indemnity insurance will be fine but TSB are insisting on a building regulation certificate. Why do TSB have a conveyancing panel if they don't accept advice from them?
It is probably the case that TSB have referred the matter to their valuer. The reason why TSB 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 have instructed a Somerset lawyer having checked that they are on the Principality conveyancing panel. Does my lawyer arrange the survey of the property?
Principality will need an independent valuation of the property. Your lawyer will not arrange this. Usually Principality will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Somerset postcode. As you are getting a mortgage with Principality, you could contact them to see if they have a list of approved surveyors in Somerset.
I own a renovated Georgian property in Somerset. Conveyancing solicitor represented me and Halifax. I did a free Land Registry search last week and there are a couple of entries: one for freehold, the second leasehold with the matching property. I'd like to know for sure, how can I find out??
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Somerset and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the situation with your conveyancing lawyer who carried out the work.
How does conveyancing in Somerset differ for newly converted properties?
Most buyers of new build or newly converted property in Somerset contact us having been asked by the builder to exchange contracts and commit to the purchase even before the house is completed. This is because house builders in Somerset usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Somerset or who has acted in the same development.
Over the last few months I have been searching for a ground for flat up to £195,000 and found one close by in Somerset I like with a park and transport links in the vicinity, the downside is that it only has 61 years unexpired on the lease. There is not much else in Somerset in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a mortgage the shortness of the lease will likely be an issue. Reduce the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.
What tools are available to search for a Somerset conveyancing solicitor on the lender conveyancing panel? I have a car and am prepared to travel up to 15kilometers to meet the conveyancer.
You can use the find a conveyancing panel tool on this page. Please choose the lender and your location, in this case Somerset and you will see a number of lawyer located nearest Somerset. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the lender solicitor panel.