I am hoping to complete my purchase in South East London next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the lender. What risks does the bank 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 instructions. These obligations are not limited to conveyancing in South East London.
Finally the sale completed on my house in South East London last August but the buyer keeps texting every few hours complaining that her solicitor needs to hear from mine. What should have happened following completion?
After completion of your sale your conveyancer is duty bound to deliver the transfer documentation and all supplemental paperwork to the purchaser's conveyancer. If applicable, your lawyer should also confirm that the mortgage has been discharged to the purchasers lawyers. There is unlikely to be post completion tasks just for conveyancing in South East London.
Having spent time looking at moneysavingexpert.com for a conveyancing solicitor in South East London, most comment that I must use a CQS assured solicitor. Can you explain what CQS is?
South East London Conveyancing Quality Scheme law firms have been granted accreditation by the law Society CQS was established to promote high standards in the in the legal transfer of properties. CQS enables consumers to recognise practices who provide a quality residential conveyancing. South East London is one of the many areas in England and Wales in which CQS are located. The conveyancing scheme requires law firms to undergo a strict assessment, compulsory training, self-reporting, spot checks and yearly assessments in order to maintain CQS status. It is available to solicitors and not licensed conveyancers and has the support of the Legal Ombudsman.
The deeds to our home can not be found. The conveyancers who dealt with the conveyancing in South East London 4 years ago no longer exist. What are my options?
Nowadays there are duplicates made of almost everything, and your conveyancer will be aware exactly where to look for all the relevant documentation so you may purchase or dispose of your house without any difficulty. If duplicates can’t be located, your lawyer may be able to put in place insurance or indemnities protecting you against future claims on the property.
Due to the guidance of my in-laws I had a survey completed on a property in South East London ahead of retaining conveyancers. I have been advised that there is a flying freehold aspect to the house. The surveyor has said that some mortgage companies tend refuse to give a loan on this type of house.
It varies from the lender to lender. Santander has different requirements for example to Halifax. If you e-mail us we can investigate further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in South East London. Conveyancing may be slightly more expensive based on your lender's requirements.