Due to complete my purchase in Woodingdean next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor 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 mortgage company expect the insurance to cover?
All property lawyers on acting for lenders 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 obligations are not specific to conveyancing in Woodingdean.
Forgive me if this question is silly but I am wet behind the ears as FTB of a ground floor flat in Woodingdean. Do I receive the keys to the property on completion from my solicitor? If so, I will use a local conveyancing solicitor in Woodingdean?
There is no need to visit the lawyers office on the day of completion. Your solicitors will transfer the purchase money to the vendor’s lawyers, and once they have received this, you should be able to receive the keys from the selling Agents and move into your new home. Usually this occurs early afternoon.
My uncle pointed out to me me that in buying a property in Woodingdean there could be various restrictions affecting the ability to carry out external alterations to the property. Is this right?
There are a number of properties in Woodingdean which have some sort of restriction or requirement of consent to execute external alterations. Part of the conveyancing in Woodingdean should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Is it the case that all Woodingdean CQS (Conveyancing Quality Scheme) solicitors are on the UBS conveyancing panel?
It is true that some lenders now make use of the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
I am buying a property and the conveyancer has raised the issue of Chancel Repair for which the house may be obligated to contribute to because it falls into the area of such a church. She has mentioned insurance. Is this strictly necessary for conveyancing in Woodingdean
Unless a previous acquisition of the house took place post 12 October 2013 you may take it that conveyancing practitioners carrying out conveyancing in Woodingdean to remain recommending a chancel search and or insurance against a claim.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a simple, no chain conveyancing. Woodingdean is where the house is located. Can you offer any advice?
Flying freeholds in Woodingdean are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Woodingdean you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Woodingdean may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am one month into a leasehold purchase having been recommend to conveyancers by the selling agent to execute conveyancing in Woodingdean. I am not happy. Could you help me find new lawyers?
A solicitor would have to be very poor in order to consider replacing them. Has the loan offer been sent? In the event that it has you will need to advise them of the replacement solicitor and ensure the mortgage documents are re-issued. Your new solicitor ideally needs to be on the mortgage company approved list to avoid escalating costs and complications. That should be your starting point. Our find a solicitor tool can assist you in finding a bank approved lawyer for your home move in Woodingdean