I am hoping to complete my purchase in Alexandra Park next Monday. My property lawyer 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 bank. What does the insurance need to cover?
Any lawyer 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 conditions. These obligations are not specific to conveyancing in Alexandra Park.
I have 71 years left on my lease and need a lease extension for my flat in Alexandra Park. Conveyancing solicitors on the Platform panel can deal with such extensions right?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Platform have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 12/2/2024 the requirements read as follows :
We are getting a further advance on our home loan from Skipton as we intend to carry out renovations to our home in Alexandra Park. Do we need to appoint a high street Alexandra Park solicitor on the Skipton conveyancing panel to handle the legals?
Skipton don't usually instruct firms on their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Skipton panel.
Last month we had a mortgage agreed in principle with RBS. Alexandra Park conveyancing solicitors are instructed. What is the average time that one could expect to receive a mortgage offer from RBS?
Some lenders take longer than others. Have RBS done the survey? Have you advised RBS as to your lawyers' details and checked that your lawyers are on the RBS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
HSBC have agreed my home loan in principle, my offer on a house in Alexandra Park has been accepted, what happens next?
Your estate agent will need to know who your solicitors are (ensure that the solicitors are on the lender’s approved list). Contact HSBC or the financial adviser and complete any outstanding paperwork. HSBC will instruct a valuer who will get in touch with the selling agent or seller to book a slot for the valuation to happen. Once conducted (assuming no problems) it takes approximately ten days to get a mortgage offer. HSBC will issue the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Alexandra Park.
Just acquired a semi-detached house in Alexandra Park , What is the estimated time for the Land Registry to deal with the formalities evidencing the transfer to my name? My Alexandra Park conveyancing solicitor has been very slow, so I want to be sure the registration formalities are addressed.
There is nothing unique when it comes to conveyancing in Alexandra Park registration formalities. Rather than based on location, timescales can differ depending on who lodges the application, whether it is in order and if the Land registry must send notices to any other persons or bodies. Currently in the region of three quarters of such applications are fully addressed within 12 days but occasionally there can be longer hold-ups. Registration occurs after the purchaser has moved in to the premises therefore an expedited registration is not typically an essential issue yet where there is a degree of urgency associated with the registration then you or your lawyers should communicate with the Registry to express the reasoning for the application to be prioritised.
How does conveyancing in Alexandra Park differ for new build properties?
Most buyers of new build or newly converted property in Alexandra Park come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is completed. This is because new home sellers in Alexandra Park usually acquire the site, 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 conveyancing solicitors 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 Alexandra Park or who has acted in the same development.
I am using a search engine for the words on line conveyancing in Alexandra Park it brings up numerous solicitorsin the vicinity. How do I determine which is the right property lawyer for my move?
The preferential way of seeking a suitable conveyancer is via personal testimonial, so ask friends and family who have acquired a property in Alexandra Park or the reputable estate agent or financial adviser. Charges for conveyancing in Alexandra Park vary, so it's a good idea to request at least four costs illustrations from varying types of property lawyers. Dont forget to clarify what costs in the quote includes.