Due to complete my purchase in Woolwich next Monday. 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 mortgage company. What does the insurance need to cover?
Any lawyer 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 conditions. These requirements are not specific to conveyancing in Woolwich.
Is it the case that all Woolwich solicitor practices on the HSBC conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the HSBC approved list of solicitors they would need to be overseen by the SRA. Many mortgage companies do list licenced conveyancers on their panel in which case such organisation would be governed by the Council of Licensed Conveyancers.
I am currently in the process of buying my council flat in Woolwich. I have a mortgage offer with Co-operative. 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 have 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 Co-operative, you will need to appoint a solicitor on the Co-operative conveyancing panel.
The formalities of my remortgage has taken place for my property in Woolwich. Conveyancing was of an acceptable standard but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
Almost all lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Department at head office. We understand that complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
My colleague advised me that if I am purchasing in Woolwich I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally included in the estimate for your Woolwich conveyancing searches. It is a large report of about 40 pages, listing and detailing important information about Woolwich around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Woolwich Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Woolwich Education with maps and statistics, Local Amenities and other useful information concerning Woolwich.
I decided to have a survey done on a property in Woolwich prior to instructing lawyers. I have been informed that there is a flying freehold aspect to the house. Our surveyor advised that some banks tend not grant a mortgage on this type of home.
It varies from the lender to lender. Bank of Scotland has different requirements from Birmingham Midshires. Should you wish to call us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Woolwich. Conveyancing may be slightly more expensive based on your lender's requirements.
My partner has suggested that I instruct his lawyers for conveyancing in Woolwich. Should I choose my own conveyancer?
No doubt the ideal way to find a conveyancing practitioner is to have recommendations from friends or family who have previously instructed the firm you're contemplating using.