Due to move into my new home in Woodford Green next Friday. My conveyancing practitioner 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 does the insurance need 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 obligations are not specific to conveyancing in Woodford Green.
Will lawyers request money on account for my conveyancing in Woodford Green?
If you are buying a property in Woodford Green your solicitor will ask you to provide them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. If any down payment is as part of the sale price then this will be needed immediately ahead of contracts are exchanged. Any further balance that is due should be sent to your lawyer a few days prior to the completion date.
is it true that all Woodford Green solicitors on the Santander conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the Santander approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. The majority of banks do list licenced conveyancers on their panel and in that case the firms would be regulated by the Council of Licensed Conveyancers.
I have decided to exercise my right to buy my property in Woodford Green off the council. I have a mortgage agreed with RBS. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with RBS, you will need to appoint a solicitor on the RBS conveyancing panel.
I had an offer accepted on a house in Woodford Green on 7/12/2022, valuation was booked five days later, received a clean bill of health. Conveyancer retained, so the only thing outstanding was my mortgage offer. Having made daily calls to TSB and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the TSB conveyancing panel. Are TSB entitled to hold back the Mortgage pending the lawyer being on the approved list?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for TSB to deal with your lawyer's application to be on the TSB conveyancing panel. There's no guarantee that your solicitor will be accepted.
I'm refinancing my current house to a buy to let loan with The Mortgage Works and intend to use the remaining equity towards further property. The location we are looking at is Woodford Green. Will your conveyancers be able to act for both sets of banks and link together the transactions?
Do use our search tool on this page to be sure that the lawyers are approved by both lenders. On the basis that they are the solicitor should be able to tie up the two transactions but you should have a chat with you solicitor and communicate your desired outcome and needs.
I am thinking of appointing a conveyancing lawyer in Woodford Green for my house move. Is it possible to check a solicitor's record with the profession’s regulator?
One can see presented Solicitor Regulator Association (SRA) determinations stemming from inquisitions from 2008 onwards. Go to Check a solicitor's record. To find details about the period before 1 January 2008, or to check a solicitors history, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, use +44 (0)121 329 6800. The regulator may recorded telephone calls for training reasons.