I am hoping to move into my new home in St Ives next Tuesday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the lender. What risks does the lender expect the insurance 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 Part 2 requirements. These obligations are not unique to conveyancing in St Ives.
I have paid off my mortgage with Aldermore. I assume I don't need a St Ives solicitor on the Aldermore panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Aldermore mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Aldermore mortgage from the register. Aldermore, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Aldermore has sent the Land Registry the discharge electronically, and
- Aldermore has instructed the Land Registry to do so
About to purchase house in St Ives. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Leeds Building Society conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the St Ives lawyer is on the Leeds Building Society conveyancing panel.
Nottingham have agreed my home loan in principle, my bid on a apartment in St Ives has been accepted, what are the next steps?
The estate agent will wish to know who your solicitors are (be sure the lawyers are on the lender’s panel). Telephone Nottingham or the financial adviser and finalise any appropriate documentation. Nottingham will instruct a valuer who will get in contact with the selling agent or seller to schedule a slot for the valuation to happen. Once carried out (assuming no problems) it takes approximately a week to receive the mortgage offer. Nottingham will send the offer to you and your lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in St Ives.
I used Action Conveyancing a few years past for my conveyancing in St Ives. Now, I need the files however the law firm is no longer operating. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in St Ives of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Should I use a St Ives conveyancing lawyer who is local to the property I am buying? An old friend can perform the legal work but his firm is located approximately 350miles away.
The benefit of a high street St Ives conveyancing practice is that you can pop in to sign paperwork, hand in your ID and apply pressure on them where appropriate. Having local St Ives know how is a plus. However it's more important to get someone that will pull out all the stops for you. If you know people who used your friend and they were happy that should outweigh using an unknown St Ives conveyancing solicitor solely due to them being based in the area.
Is there an average conveyancing fee for conveyancing in St Ives?
The average fee last year for conveyancing in St Ives was £1,419 not including Land Tax and HM Land Registry charges.