All was ready to move into my new home in Burton Latimer next Thursday. My property lawyer now wants me to supply her with proof 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 risks does the bank expect the insurance 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 Part 2 conditions. These obligations are not unique to conveyancing in Burton Latimer.
I got the keys to my apartment on 11 March and the transaction details is not yet on the land registry website. Any reason for this? My conveyancing solicitor in Burton Latimer expressed confidence that it would be registered in a couple of weeks. Are properties in Burton Latimer uniquely lengthy to register?
As far as conveyancing in Burton Latimer registration is no faster or slower than the rest of the country. As opposed to being determined by geographic area, timeframes can adjust depending on who lodges the application, whether there are errors and whether the Land registry must send notices to any third parties. As of today roughly three quarters of submission are fully addressed within two weeks but occasionally there can be protracted hold-ups. Registration occurs after the new owner is living at the property so 'speed' is not typically top priority yet if there is a degree of urgency associated with the registration then you or your lawyers can speak with the land registry and explain the circumstances.
I am buying a new build apartment in Burton Latimer. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Burton Latimer
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There must be mutual enforceability of lessee’s covenants. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please confirm the Lease plans are architect prepared. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Please provide evidence that the form of Lease proposed has been approved by the Land Registry.
How simple is it to change conveyancer as I need to choose a firm on the Accord Mortgages Ltd conveyancing panel. I hired a local conveyancing solicitor in Burton Latimer five minutes from me but the firm is not accepted by Accord Mortgages Ltd
It would be our pleasure to help you select a conveyancing solicitor in Burton Latimer on the Accord Mortgages Ltd panel. Please note that the law firms that we work with do not pay us a referral fee if you instruct them and are regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in Burton Latimer. In making use of search facility on this website, you can compare fees for conveyancing solicitors in Burton Latimer and beyond.
I own a leasehold house in Burton Latimer. Conveyancing and Platform Home Loans Ltd mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Burton Latimer who acted for me is not around. What should I do?
The first thing you should do is make enquiries of the Land Registry to make sure that this person is in fact the new freeholder. You do not need to incur the fees of a Burton Latimer conveyancing firm to do this as it can be done on-line for £3. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Burton Latimer Leasehold Conveyancing - Examples of Queries before Purchasing
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Many Burton Latimer leasehold apartments will incur a service charge for maintenance of the building set by the freeholder. If you buy the apartment you will have to pay this charge, usually quarterly accross the year. This can vary from a couple of hundred pounds to thousands of pounds for large purpose-built buildings. There will also be a ground rent for you to pay annual, normally this is not a exorbitant amount, say about £50-£100 but you should to check it because occasionally it can be prohibitively expensive. How many of the leaseholders are in arrears for their service charge payments? Who is in charge of the block?
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the lender conveyancing panel. My lawyer has said that they are on the lender approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the mortgage company conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the lender solicitor panel.