Due to complete my purchase in St Ives next Friday. My solicitor 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 bank. What risks does the bank expect the insurance to cover?
Any lawyer on acting for mortgage companies 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 requirements. These obligations are not unique to conveyancing in St Ives.
I am considering applying for a TSB mortgage for purchase of a newly converted (under development) in St Ives with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for TSB ?
In theory, you could use a solicitor that is not on the TSB conveyancing panel, but TSB would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
My bid for a property was accepted at auction in St Ives. Conveyancing is necessary. What is next?
Given that you have now legally committed yourself to purchase you now have to hire the services of a conveyancing lawyer as a matter of urgency as you are facing a pending a fixed date to complete the deal. All auction property should have a bespoke legal set of papers. This should include evidence of title and search results. Where you are dealing with leasehold premises the legal papers should contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork pertinent to a leasehold property. You need to pass this on to your appointed conveyancing solicitor at the earliest opportunity. Do make sure that your finances are in order to complete on the on the contractual date .
I'm in the process of viewing houses in St Ives and I am now considering a potential offer. Is it too early to have a solicitor in place? I intend to finance via a home loan with Skipton.
It would be prudent to start your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the EA. As you are taking out a mortgage with Skipton, make sure you remember to check that your lawyer is on the Skipton conveyancing panel.
Having read lots of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local St Ives solicitor - who is on the Aldermore conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Aldermore will need an independent valuation of the property. Your lawyer will not arrange this. Usually Aldermore 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 lawyer 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 St Ives postcode. As you are getting a mortgage with Aldermore, you could contact them to see if they have a list of approved surveyors in St Ives.
Me and my brother own a 4 bedroom Victorian house in St Ives. Conveyancing lawyer acted for me and Skipton Building Society. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, the second leasehold under the exact same address. Is it worth asking Skipton Building Society to clarify?
You should assess 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in St Ives 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 mortgage companies. You can also check the position with the conveyancing solicitor who carried out the work.
Is it simple use your search app to get a fee calculation from a conveyancing practitioner in St Ives on the approved list for my mortgage?
1st select a lender such as Yorkshire Building Society, Leeds Building Society or Platform Home Loans Ltd then specify your preferred area for instance St Ives. Conveyancing practices in St Ives and further afield should be identified.