Due to move into my new home in Stowmarket 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 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 UK Finance Lenders’ Handbook instructions. These requirements are not specific to conveyancing in Stowmarket.
My wife and I are buying a property in Stowmarket. I might seem paranoid but how we can trust a lawyer? On the day of competition we will need to deposit money into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We are getting a further advance on our home loan from Co-operative as we wish to conduct improvements to our house in Stowmarket. Do we need to choose a high street Stowmarket solicitor on the Co-operative conveyancing panel to deal with the paperwork?
Co-operative don't usually require firms on their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Co-operative panel.
The formalities of my remortgage has taken place for my property in Stowmarket. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Most lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Department at head office. In most cases complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
We are downsizing from our house in Stowmarket and the buyers lawyers are claiming that there is a risk of it being built on contaminated land. A high street Stowmarket conveyancer would know this is not the case. For the life of me I don't know why the buyers instructed a factory type conveyancing practice rather than a conveyancing solicitor in Stowmarket. We have lived in Stowmarket for many years we know of no issue. Is it a good idea to get in touch with our local Authority to get confirmation need.
It sounds as though you may have a conveyancing firm currently acting for you. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
It has been four months since my purchase conveyancing in Stowmarket took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does one remove a deceased person's details from the title register for a property in Stowmarket?
Where a Stowmarket property is co-owned and one of the owners dies, the name will not automatically be removed from the Land Registry title. You are not required to amend the title as when it comes to a disposal you would simply need to supply proof why the other proprietor is missing from the contract, such as a grant of probate.
With the aim of making the sale conveyancing smoother in the future you may arrange to have the deceased party removed from the title by applying to the land registry with evidence of the death. There is no fee from the Registry for this service.