All was ready to complete my purchase in Wendover next Monday. My lawyer now wants me to supply her with proof 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 Part 2 requirements. These requirements are not limited to conveyancing in Wendover.
It is 10 years ago since I purchased my home in Wendover. Conveyancing lawyers have just been retained on the sale but I can't find my deeds. Is this a major issue?
Don’t worry too much. Firstly there is a possibility that the deeds will be with your lender or they could be in the possession of the solicitor who acted in your purchase. Secondly in all probability the title will be registered at the land registry and you will be able to prove you own the property by your conveyancing lawyers acquiring up to date copy of the land registers. Almost all conveyancing in Wendover involves registered property but in the rare situation where your home is unregistered it is more tricky but is not insurmountable.
I am buying a new build flat in Wendover. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Wendover
Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? There must be mutual enforceability of lessee’s covenants. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please supply a car parking plan. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
Hoping to buy a property located in Wendover and I am already nervous. I couldn't find anything specific about Wendover. Conveyancing will be needed in due course but do you know about the Wendover area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Wendover. In the meantime here are some basic statistics that we found
My wife and I have recently appointed a conveyancing solicitor in Wendover. I need to find out if they are listed on the lender's conveyancing panel. Could you help?
You should phone your lawyer to enquire if they are on the lender's approved list. If that does not help get in touch with us and we can make some checks for you. If they are not on the bank panel we we can help find a specialist conveyancing solicitor in Wendover on the panel for your mortgage company.