Due to move into my new home in South Hornchurch next Tuesday. My lawyer now wants me to supply her with evidence of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the mortgage company. 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 requirements. These requirements are not limited to conveyancing in South Hornchurch.
Our lender has suggested a law firm on their panel based in South Hornchurch but I would rather choose a conveyancing lawyer in South Hornchurch or nearer to where I live. Can you assist?
The minority of South Hornchurch conveyancing firms are listed all banks conveyancing panel. Do make the most of our find an approved solicitor tool to choose a South Hornchurch conveyancing conveyancer on the on the bank panel.
I require expedited conveyancing in South Hornchurch as I am under an ultimatum to exchange contracts inside one month. Luckily I do not require a mortgage. Can I avoid the conveyancing searches to save fees and time?
As you are are a mortgage free purchaser you are at liberty not to do searches although no solicitor would suggest that you don't. Drawing on our experience of conveyancing in South Hornchurch the following are examples of issues that can appear and therefore affect future mortgageability: Refused Planning Applications, Outstanding Charges, Outstanding Grants, Unadopted Roads,...
Me and my brother purchased a semi-detached Georgian house in South Hornchurch. Conveyancing practitioner acted for me and Skipton Building Society. I did a free Land Registry search last week and there are a couple of entries: the first freehold, the second leasehold under the matching address. I'd like to know for sure, how can I find out??
You should 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 South Hornchurch and other areas of 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 purchasers. You can also enquire as to the position with the conveyancing practitioner who conducted the conveyancing.
I am looking for a flat up to £245,000 and found one near me in South Hornchurch I like with open areas and transport links in the vicinity, however it's only got 49 remaining years left on the lease. I can't really find anything else in South Hornchurch suitable, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a mortgage the shortness of the lease will be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of twenty four months you may request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.