All was ready to move into my new home in Aylestone next Thursday. My property lawyer 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 UK Finance Lenders’ Handbook conditions. These obligations are not unique to conveyancing in Aylestone.
Are the BSA intent on creating a online directory to to identify practices on the Melton Mowbray Building Society conveyancing panel for example in Aylestone?
We are not aware of any plans on the part of the BSA to develop such a register.
I have a semi-detached Edwardian house in Aylestone. Conveyancing solicitor represented me and National Westminster Bank. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, the second leasehold with the matching property. Is it worth asking National Westminster Bank to clarify?
You need to assess 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Aylestone and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with your conveyancing solicitor who carried out the work.
I am buying a new build house in Aylestone with a mortgage from Godiva Mortgages Ltd. The sellers refused to reduce the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent told me not to tell my solicitor about this deal as it could adversely affect my loan with Godiva Mortgages Ltd. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am using a search engine for the term conveyancing in Aylestone it shows results of numerous conveyancerslocally. How do I determine which is the right property lawyer for me?
The ideal way of choosing the right conveyancer is through a personal referral, so enquire of colleagues and family who have acquired a property in Aylestone or a reputable estate agent or mortgage broker. Costs for conveyancing in Aylestone vary, so it's advisable to secure at least three fee estimates from different conveyancers. Make sure that you clarify that the costs are guaranteed not to to be inflated.
I bought a property in Aylestone last 16/5/2023 and to date it is still not registered with HMLR. It was part of a new estate and my conveyancer told me that it can take over a year to complete the registration formalities. I have contacted the Land Registry directly and they have informed me the original application was cancelled due to questions not being addressed in time. Should I be concerned?
It is your solicitor that you really need to turn to here in order to satisfy any concerns which have been raised as part of the registration formalities for your Aylestone property. Normal Aylestone conveyancing practice includes an undertaking on the part of the vendor’s lawyer that they will help resolve any registration raised by HMLR so it may be a case of seeking to enforce that undertaking in some way.