All was ready to complete my purchase in Caddington next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor 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 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 requirements are not unique to conveyancing in Caddington.
Is it the case that all Caddington CQS (Conveyancing Quality Scheme) solicitors are on the Co-operative conveyancing list of approved practices?
A selection of lenders now make use of CQS as the starting point for Panel approval such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.
is it true that all Caddington solicitor firms on the UBS conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the UBS conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many banks do permit licenced conveyancers on their panel in which case such practice would be regulated by the CLC.
We previously selected conveyancers based in Caddington on the Barclays solicitor approved list. They are now charging me a separate charge for dealing with the Barclays mortgage. Is this an additional conveyancing fee set by Barclays?
As unfair as it may appear, as long as it’s in their Terms of Engagement or Quote then yes your lawyer is entitled to charge a fee for this. The charge is not dictated by Barclays but by your Caddington property lawyer. Numerous firms on the Barclays panel will charge an ‘acting for lender’ fee and others do not.
We are buying a house and the lawyer has referenced Chancel Repair to which the house may be obligated to contribute to as it falls into the area of such a church. She has mentioned insurance. Is this really appropriate for conveyancing in Caddington
Unless a prior acquisition of the house took place after 12 October 2013 you may take it that conveyancing practitioners conducting conveyancing in Caddington to continue to suggest a chancel search and or insurance against a claim.
Taking into account that I will soon part with hundreds of thousands of pounds on a two bedroom apartment in Caddington I would like to have a conversation with the lawyer about mytransaction in advance of giving the go ahead to the firm. Is this something that you can arrange?
Absolutely - we would be delighted to talk to you we do not take any clients on without you first talking to the solicitor who will be conducting your property ownership legalities in Caddington.There is no ‘factory style conveyancing’ - every client is unique individual, not a case reference. The practices that we put you in touch with believe that the fees you are calculated and presented to you for residential conveyancing in Caddington should be the amount on the final invoice that you are charged.
I am intending to sublet my leasehold flat in Caddington. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Even though your previous Caddington conveyancing solicitor is not available you can check your lease to see if you are permitted to let out the premises. The accepted inference is that if the lease is non-specific, subletting is allowed. Quite often there is a prerequisite that you must seek consent from your landlord or some other party in advance of subletting. The net result is you not allowed to sublet in the absence of first obtaining permission. Such consent must not not be unreasonably turned down. If your lease does not allow you to sublet you will need to ask your landlord for their consent.
Leasehold Conveyancing in Caddington - Examples of Queries Prior to Purchasing
Who manages the block? It would be a good idea to find out if the the lease includes any unreasonable restrictions in the lease. For example it is reasonably common in Caddington leases that pets are not allowed in in a block in Caddington. If you like the apartmentin Caddington however your dog is not allowed to live with you then you will be presented with a difficult choice. Are any of leasehold owners in arrears of their service charge liability?
I have noted on various online forums that when selecting a conveyancing firm they must be approved by your bank. I am a FTB but I have an offer in principle from Santander and I already have a local conveyancing solicitor in Caddington lined up. Does Santander insist on an approved lawyer to be selected? Does a directory of panel conveyancers even exist so I can pick a conveyancing lawyer in Caddington?
You need to use a solicitor that is on the Santander panel. Simply ring your chosen Caddington conveyancing solicitor and ask if they are on the Santander panel. If they are not approved you have numerous options open to you here:
- Carry on with your chosen Caddington conveyancer but Santander will undoubtedly use a property lawyer on their approved list. This will result in additional fees and likely frustration.
- Choose a fresh conveyancer to conduct the conveyancing, ensuring that they are on the Santander conveyancing panel.
- Convince your conveyancing practitioner to pull out all the stops to join the Santander panel of solicitors.