All was ready to complete my purchase in Bexleyheath 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 lender. What risks does the mortgage company expect the insurance 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 requirements. These requirements are not limited to conveyancing in Bexleyheath.
I have been recommended a conveyancing solicitor in Bexleyheath. I I am struggling to find out if they are on the Skipton Building Society approved list of lawyers. Can you or the lender confirm if they are on the panel?
The first thing to do is phone your lawyer and enquire if they can act for the bank. Alternatively you can get in touch with Skipton Building Society who may be able to assist.
I have been told that property searches are a common reason for obstruction in Bexleyheath conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays in the conveyancing process. Searches are unlikely to feature in any slowing down conveyancing in Bexleyheath.
Are there restrictive covenants that are commonly identified during conveyancing in Bexleyheath?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Bexleyheath. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm buying my first flat in Bexleyheath with the aid of help to buy. The builders refused to reduce the price so I negotiated 6k of fixtures and fittings instead. The sale representative told me not reveal to my conveyancer about this side-deal as it may adversely affect my mortgage with the lender. 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.
My wife and I purchased a leasehold flat in Bexleyheath. Conveyancing and Barnsley Building Society mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Bexleyheath who acted for me is not around. Do I pay?
The first thing you should do is make enquiries of HMLR to be sure that this person is indeed the new freeholder. You do not need to incur the fees of a Bexleyheath conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am the registered owner of a garden flat in Bexleyheath. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the premium payable for a lease extension?
Most certainly. We can put you in touch with a Bexleyheath conveyancing firm who can help.
An example of a Lease Extension case for a Bexleyheath property is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case was in relation to 13 flats. The remaining number of years on the lease was 76 years.