All was ready to move into my new home in Caddington next Monday. 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 mortgage company. What risks does the bank expect the insurance to cover?
All property lawyers 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 Part 2 instructions. These requirements are not limited to conveyancing in Caddington.
It has been 4 months following my purchase conveyancing in Caddington took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I have been on the look out for a flat up to £245,000 and found one close by in Caddington I like with amenity areas and railway links in the vicinity, however it only has 52 years on the lease. There is not much else in Caddington suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a home loan the shortness of the lease will likely be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this.
Is it possible to transfer to a new firm as I need to choose a firm on the The Royal Bank of Scotland conveyancing panel. I hired a family conveyancing solicitor in Caddington five minutes from me but he is not accepted by The Royal Bank of Scotland
We will our best to assist in finding you a conveyancing solicitor in Caddington on the The Royal Bank of Scotland panel. Please note that the law firms that we on the directory do not pay us a referral fee if you instruct them and are registered with the SRA who regulate all conveyancing solicitors in Caddington. Using search facility on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Caddington.
I need to find a conveyancing solicitor for leasehold conveyancing in Caddington. I happened to chance upon a site which looks to be the perfect offering If it is possible to get all the legals done via web that would be ideal. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I’m about to sell my ground floor flat in Caddington.Conveyancing solicitors are to be appointed soon however I have recently had a quarterly maintenance charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should discharge the maintenance contribution as usual given that all rents and maintenance invoices should be allottedon completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process