All was ready to move into my new home in Stanley next Thursday. My property lawyer now wants me to supply her with proof of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the lender. What does the insurance need 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 obligations are not limited to conveyancing in Stanley.
At what point will exchange of contracts take place for sale conveyancing in Stanley and do I need to attend the lawyers branch?
Where you are round the corner to one of the conveyancing solicitors in Stanley you are invited in to sign contracts. That being said, the law practices we work with offer countrywide coverage for conveyancing and give as equally diligent and professional a job for you when dealing with you by post or email. The executing of the purchase agreement is not when everything is set in stone. A signed contract is just a prerequisite for the conveyancer to exchange contracts at the suitable time, which is ordinarily shortly after signing. The procedure is is usually a five minute process, although where an extended "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Stanley)to be in the office available at the end of the phone to exchange contracts.
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Stanley?
There are many recorded licenced Conveyancers in Stanley and Solicitor firms in Stanley who provide Conveyancing services It is important to make clear that both are supervised by regulatory bodies with both specialising in the legal work in the home buying process. Both can handle other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
We had chosen conveyancing lawyers locally in Stanley on the HSBC solicitor panel. They have just billed me a separate sum for handling the HSBC mortgage. Is this an additional conveyancing fee specified by HSBC?
As unfair as it may appear, as long as it’s in their Terms of Engagement or Quote then yes your solicitor can levy a fee for this. The fee is not set by HSBC but by your Stanley conveyancing practitioner. Numerous firms on the HSBC panel will quote ’dealing with mortgage’ fee and others do not.
We were going to get a AIP from Aldermore this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Aldermore recommend any Stanley solicitors on the Aldermore conveyancing panel, or is it better to go independently?
You will need to appoint Stanley solicitors independently although you'll need to choose one on the Aldermore conveyancing panel. The solicitor represents both you and Aldermore through the process.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what should have been a quick, no chain conveyancing. Stanley is the location of the property. Can you offer any guidance?
Flying freeholds in Stanley are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Stanley you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stanley may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Is it best to use a Stanley conveyancing practitioner who is local to the property I am purchasing? I have an old university friend who can handle the legal formalities but his firm is located a couple of hundredkilometers away.
The primary upside of using a local Stanley conveyancing firm is that you can drop in to sign paperwork, present your identification documents and apply pressure on them if necessary. Having local Stanley know how is a bonus. That being said nothing is more important than finding someone that will pull out all the stops for you. If other friends have used your friend and they were content that should surpass using an unfamiliar Stanley conveyancing solicitor solely due to them being local.