I am hoping to move into my new home in Walworth next Monday. My conveyancing practitioner 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 bank. What risks does the bank expect the insurance to cover?

All property lawyers 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 instructions. These obligations are not limited to conveyancing in Walworth.

Why do I have to pay up front for conveyancing in Walworth?

If you are buying a property in Walworth your lawyer will ask you to provide them with funds to cover the search fees. Generally this is called for to cover the fees of the Local Authority Search. When the down payment is payable against the purchase price then this will be needed shortly ahead of exchange of contracts. The final balance that is due should be sent to your lawyer shortly before completion.

I used Action Conveyancing several years past for my conveyancing in Walworth. Now, I need my files but cannot find the solicitor. What do I do?

Do call the Solicitors Regulatory Authority (SRA) to assist in tracing 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 Walworth of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.

I'm purchasing my first flat in Walworth with a loan from Santander. The developers would not reduce the price so I negotiated five thousand pounds worth of additionals instead. The estate agent advised me not to tell my lawyer about this extras as it would jeopardize my loan with Santander. Is this normal?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

Due to the guidance of my in-laws I had a survey completed on a house in Walworth before retaining conveyancers. I have been informed that there is a flying freehold overhang to the property. My surveyor advised that some banks may refuse to give a mortgage on a flying freehold premises.

It varies from the lender to lender. Lloyds has different requirements from Nationwide. Should you wish to call us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Walworth. Conveyancing will be smoother if you use a solicitor in Walworth especially if they are acquainted with such properties in Walworth.