I am hoping to move into my new home in Weldon next Monday. My conveyancer 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 mortgage company. What risks does the lender 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 limited to conveyancing in Weldon.
Forgive me if this question is silly but I am wet behind the ears as FTB of a garden flat in Weldon. Do I pick up the keys to the house on completion from my conveyancer? If this is the case, I will instruct a local conveyancing solicitor in Weldon?
There is no need to visit the lawyers office on the day of completion. Your solicitors will electronically transfer the completion advance to the vendor’s lawyers, and shortly after the monies have arrived, you will be invited to pick up the keys from the Estate Agents and start moving into the property. This tends to happen between 1 and 3pm.
Completion of my purchase has taken place for my property in Weldon. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Almost all lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. We understand that complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
Intending to buy a maisonette in Weldon. 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 Nottingham 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 Weldon property lawyer is on the Nottingham conveyancing panel.
I am looking for a ground for flat up to £235,500 and identified one close by in Weldon I like with open areas and transport links in the vicinity, the downside is that it only has 49 years unexpired on the lease. I can't really find anything else in Weldon in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a home loan that many years will likely be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.
How easy is it to use your search app to get a fee calculation from a conveyancing lawyer in Weldon on the panel for my lender?
First choose a lender such as Barclays , Norwich and Peterborough Building Society or Alliance & Leicester then type in your location a common one being Weldon. Conveyancing practices in Weldon and nationally should be identified.
Our estate agent has suggested using their conveyancer for our conveyancing in Weldon - Is it not simpler easier to just instruct them?
This is not necessarily the case and you are at liberty to use whichever lawyer you prefer for your Weldon conveyancing. The lawyer recommended by a 3rd party adviser may not always be the best property lawyer, they may suggest their preferred conveyancing firm who are based remotely. In this instance you may not have contact with your lawyer and due to the lack of continuity in the transaction, it may be difficult to obtain progress reports.