Due to move into my new home in Lechlade next Tuesday. My conveyancing practitioner 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 bank. What risks does the lender expect the insurance 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 UK Finance Lenders’ Handbook requirements. These requirements are not unique to conveyancing in Lechlade.
I have a renovated Georgian house in Lechlade. Conveyancing practitioner acted for me and Nottingham Building Society. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, another for leasehold under the matching address. Is it worth asking Nottingham Building Society to clarify?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Lechlade and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the position with the conveyancing practitioner who conducted the purchase.
I've recently found out that there is a flying freehold element on a property I have offered on two weeks back in what should have been a straight forward, no chain conveyancing. Lechlade is where the house is located. Can you shed any light on this issue?
Flying freeholds in Lechlade are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Lechlade you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lechlade may decide 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 property.
I'm remortgaging my existing house to a buy to let mortgage with Santander and I will use the rest of the raised equity towards further house. The neighborhood we are talking about is Lechlade. Will your solicitors be able to act for both sets of banks and link together the conveyances?
Do use our comparison tool on this page to check that the solicitors are approved by both lenders. Assuming that they are the conveyancer will be able to simultaneously deal with the two deals but you should have a chat with you lawyer and specify your desired outcome and requirements.
We're FTB’s - had an offer accepted, but the estate agent told us that the vendor will only issue a contract if we appoint their chosen conveyancers as they want an ‘expedited deal’. My instinct tells me that we should use a family conveyancer with experience of conveyancing in Lechlade
It is highly unlikely the owners are behind this. Should the vendor desire ‘a quick sale', turning down a motivated purchaser is not the way to achieve this. Avoid the agents and go straight to the owners and make the point that (a)you are genuine purchasers (b)you are ready to go, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)however you will continue to instruct your preferred Lechlade conveyancing solicitors - not the ones that will give the estate agent a commission or achieve conveyancing thresholds set by senior management.
My lawyers in Lechlade have advised me that they can not locate my conveyancing file. At the time of my purchase I took out a mortgage with the mortgage company. Is it case that being on the bank conveyancing panel they need to have retained the file for a number of years?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the mortgage company Conveyancing Panel Terms. It might be worth you contacting the bank directly.