Due to move into my new home in West Sussex next Thursday. My conveyancer 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 does the insurance need 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 Part 2 requirements. These obligations are not specific to conveyancing in West Sussex.
What is the best way to find out if the solicitor carrying out my conveyancing in West Sussex is on the lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Bank of Scotland thus paying £192.00 in additional legal costs.
You should take advantage of the search tool on this site. Pick the lender and type ‘West Sussex’ or your location and you will see numerous conveyancers located in West Sussex or nearest you.
We previously selected conveyancing lawyers located in West Sussex on the HSBC solicitor approved list. They have just billed me an additional amount for dealing with the HSBC mortgage. Is this an additional conveyancing fee set by HSBC?
Provided it is contained in their Terms and Conditions or Quote then yes your conveyancer can levy a fee for this. This fee is not set by HSBC but by your West Sussex lawyer. Numerous firms on the HSBC panel will levy an ‘acting for lender’ fee but some firms incorporate it on their overall fee.
We have agreed to purchase a house in West Sussex. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Nottingham be concerned?
As you are obtaining a mortgage with Nottingham your lawyer must check the conveyancing requirements set out in Part 2 of UK Finance Lenders’ Handbook for Nottingham. The Council of Mortgage Lenders’ Handbook contains minimum requirements for solar panel roof-space leases, and property lawyers are required to report to Nottingham where a lease does not comply with these provisions. The requirements relate to the installation of panels on properties in England and Wales and is not isolated to West Sussex.
I can not fathom if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local West Sussex bank branch on a couple of occasions and was advised it wasn't a problem and they will lend. My West Sussex conveyancing solicitor - who is on the lender conveyancing panel- called to say that they refuse to lend in accordance with their specific requirements. I simply don't know who is right.
Provided that the conveyancing practitioner is on the bank panel, she or he must follow the CML Handbook requirements for the lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
How does conveyancing in West Sussex differ for new build properties?
Most buyers of new build or newly converted property in West Sussex contact us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is built. This is because developers in West Sussex tend to buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in West Sussex or who has acted in the same development.
I need to find a conveyancing solicitor for residential conveyancing in West Sussex. I've stumble across a site which appears to be the ideal solution If it is possible to get all formalities completed via web that would be ideal. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?