All was ready to move into my new home in Caergwrle next Tuesday. 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 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 limited to conveyancing in Caergwrle.
Completed the sale of my flat in Caergwrle last June but our buyer keeps whats apping daily to say his lawyer is waiting to hear from mine. What are the post completion sale formalities following completion?
After completion of your disposal your solicitor is committed to deliver the transfer documentation and all of the paperwork to the buyer’s conveyancer. If applicable, your conveyancer should also evidence that the legal charge in favour of the lender has been repaid to the purchasers conveyancers. There is unlikely to be post completion formalities specific conveyancing in Caergwrle.
My brother-in-law has suggested I instruct a conveyancing solicitor in Caergwrle. I need to find out whether they are on the HSBC Bank approved list of lawyers. Can you advise?
The first thing you should do is e-mail your solicitor and enquire whether they can act for the lender. Alternatively please get in touch with HSBC Bank who may be able to confirm.
Is it necessary to pay for insurance to protect me from financial exposure to chancel repairs when acquiring a house in Caergwrle?
Unless a prior acquisition of the premises took place post 12 October 2013 you could expect lawyers handling conveyancing in Caergwrle to remain recommending a chancel search and or insurance against a claim.
I have been pointed in your direction by a number of property agents in Caergwrle to choose a solicitor using your seach tool. What’s the financial advantage for Estate Agents to market your site over alternative conveyancing organisations?
We don’t offer any financial incentive for sending work to this site. We found it would be just too difficult to pay a commission because members of the public would think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
Looking forward to complete next month on a studio apartment in Caergwrle. Conveyancing lawyers inform me that they report fully on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Caergwrle should include some of the following:
Additions to the property What you can do if another tenant in the building breaches a clause of their lease? The landlord’s rights to access the premises. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided. Responsibility for repairing the window frames
I invested in buying a leasehold flat in Caergwrle, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Caergwrle with over 90 years remaining are worth £197,000. The ground rent is £55 invoiced annually. The lease comes to an end on 21st October 2077
With just 56 years unexpired the likely cost is going to be between £29,500 and £34,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.