Due to move into my new home in Beacontree Heath next Thursday. 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 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 instructions. These obligations are not specific to conveyancing in Beacontree Heath.
Why do I have to pay up front when it comes to conveyancing in Beacontree Heath?
If you are buying a property in Beacontree Heath your lawyer will ask you place them with funds to cover the search fees. This will be the total of the cost of the conveyancing searches. If any deposit is as part of the purchase price then this will be asked for shortly prior to exchange of contracts. Any further balance that is due will be payable shortly before completion.
My lawyer in Beacontree Heath is not listed on the Bank of Scotland Approved Panel. Can I still retain my family solicitor even though they are not on the Bank of Scotland approved list?
Your options are as follows:
- Complete the purchase with your existing Beacontree Heath lawyers but Bank of Scotland will need to instruct a solicitor on their list of acceptable firms. This will inevitably rack up the overall conveyancing fees and result in frustration.
- Get a new lawyer to to deal with the conveyancing, obviously checking they are on the Bank of Scotland panel
What is the difference between a licensed conveyancer and conveyancing solicitor in Beacontree Heath
Two types of professional can execute conveyancing in Beacontree Heath namely licenced conveyancers or solicitors. The two can handle conveyancing services that you need to complete the sale or purchase of property. Both are obliged to conduct Beacontree Heath conveyancing on similar standards and guidelines so you may be sure that your conveyancing will be professionally carried out and that the requisite procedures should be appropriately followed.
A relative advised me that in buying a property in Beacontree Heath there could be various restrictions affecting the ability to carry out external changes to the property. Is this right?
There are a number of properties in Beacontree Heath which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in Beacontree Heath should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Please help - my lawyer says that lack of building regulations insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Beacontree Heath?
The right level of lack of building regulations indemnity insurance depends on your lender. It would differ for example between Accord Mortgages Ltd and The Mortgage Works. Conveyancing practitioners as opposed to borrowers take out such policies.
I've recently found out that there is a flying freehold element on a house I put an offer in last month in what was supposed to be a straight forward, no chain conveyancing. Beacontree Heath is where the house is located. Can you shed any light on this issue?
Flying freeholds in Beacontree Heath are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Beacontree Heath you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Beacontree Heath may determine 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.
How can the Landlord & Tenant Act 1954 affect my business offices in Beacontree Heath and how can you help?
The particular law that you refer to gives a safeguard to business tenants, granting the legal entitlement to apply to court for a new tenancy and continue in occupation when the lease comes to an end. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing practices who use the act to your advantage and help with commercial conveyancing in Beacontree Heath