Due to move into my new home in West Kirby next Tuesday. My lawyer now wants me to supply her with evidence of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the lender. What risks does the lender expect the insurance to cover?
All property lawyers 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 conditions. These requirements are not unique to conveyancing in West Kirby.
My uncle advised me that in buying a property in West Kirby there could be various restrictions limiting what one can do in terms of external changes to a property. Is this right?
We are aware of anumerous of properties in West Kirby which have some sort of restriction or requirement of consent to carry out external changes. Part of the conveyancing in West Kirby should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I've read lots of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local West Kirby solicitor - who is on the Co-operative conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Co-operative will need an independent valuation of the property. Your lawyer will not arrange this. Usually Co-operative will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own West Kirby surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Our sealed bid on a house in West Kirby has been accepted, the sellers do however have a connected purchase. The owners have put an offer on somewhere, however it’s not yet agreed to, and have viewings of other properties in the pipeline. I have instructed a nearby conveyancing solicitor in West Kirby. What should be my next step? When should I get the mortgage application with Coventry BS started?
It is usual to have apprehensions where there is a chain as you are unlikely to want to incur costs prematurely (home loan application is approx £1k, then valuation, West Kirby conveyancing search costs, etc). The first thing to do is ensure that your solicitor is on the Coventry BS approved list. Regarding the next phase this very much depends on the uniqueness of your transaction, desire for the property and on the state of the market. In a rising market many buyers would apply for the mortgage with Coventry BS and arrange for the valuation and only if it was satisfactory would they ask their lawyer to move forward with the conveyancing in West Kirby.
Should our lawyer be raising questions concerning flooding during the conveyancing in West Kirby.
Flooding is a growing risk for conveyancers dealing with homes in West Kirby. There are those who buy a house in West Kirby, completely expectant that at some time, it may be flooded. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Solicitors are not best placed to give advice on flood risk, however there are a number of checks that may be undertaken by the purchaser or on a buyer’s behalf which will figure out the risks in West Kirby. The conventional set of information supplied to a buyer’s solicitor (where the Conveyancing Protocol is adopted) incorporates a standard question of the vendor to find out whether the property has suffered from flooding. If flooding has previously occurred which is not disclosed by the seller, then a purchaser could bring a claim for damages as a result of such an incorrect answer. A buyer’s conveyancers will also carry out an environmental report. This should higlight whether there is any known flood risk. If so, further inquiries will need to be carried out.
Just had an offer accepted on a new build apartment in West Kirby. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in West Kirby
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. There must be mutual enforceability of lessee’s covenants. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
Due to the encouragement of my in-laws I had a survey completed on a house in West Kirby ahead of retaining conveyancers. I have been advised that there is a flying freehold aspect to the property. The surveyor advised that some banks will refuse to grant a loan on this type of premises.
It depends who your proposed lender is. HSBC has different requirements from Nationwide. Should you wish to call us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in West Kirby. Conveyancing may be slightly more expensive based on your lender's requirements.