All was ready to move into my new home in Tonypandy next Monday. My lawyer now wants me to supply her with evidence of content and building insurance for the property as as she informs me that she is duty bound to validate that it is in order for the bank. What risks does the bank 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 UK Finance Lenders’ Handbook instructions. These obligations are not unique to conveyancing in Tonypandy.
My grandfather passed away six months ago and as sole heir and executor I was left the house in Tonypandy. The house had a relatively small loan left on it of around £4500. I want to have the title changed into my name whilst I re-mortgage to Kent Reliance, pay off the mortgage. Is this possible?
Where you intend to refinance then Kent Reliance will insist on your using a conveyancer on the Kent Reliance conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Kent Reliance conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Kent Reliance mortgage is registered as a charge at the Land Registry.
Various web forums that I have frequented warn that are the main cause of obstruction in Tonypandy house deals. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not figure within the top 10 causes of hindrances during the legal transfer of property. Searches are not likely to feature in any delay in conveyancing in Tonypandy.
My brother has recommend that I appoint his conveyancers in Tonypandy. Should I use them?
There are no two ways about it the ideal way to choose a conveyancing solicitor is to have feedback from friends or family who have used the conveyancer you're contemplating using.
Me and my husband have just had an offer accepted on a house and had an appointment on Wednesday with the Post Office for the mortgage. They warned us that when it comes to choosing a property lawyer that if they are not on their approved list of solicitors then we will incur an additional charge of £250+. This is because they would then have to appoint a solicitor to act for them in addition to the one we choose to act on our behalf and we will be on the hook for their fees. I have requested the Post Office to provide me with a list so I can seek quotes only from their approved lawyers but was told that I need to check with each individual conveyancer to see if they are on the panel. Is there a list online?
You should ask the Post Office what their panel criteria is for a conveyancer.Thereafter ask the lawyer of your choice whether they meet the criteria and have they acted on loans for the Post Office before. If the answer to those is yes, then just double check with the Post Office. Another option is to use our search facility and we should be able to find you a lawyer in Tonypandy on the approved list for the Post Office.