I am hoping to move into my new home in Caldicot next Monday. My conveyancer now wants me to supply her with proof of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the bank. What does the insurance need 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 UK Finance Lenders’ Handbook conditions. These obligations are not specific to conveyancing in Caldicot.
What does my ID and proof of funds have anything to do with my conveyancing in Caldicot? Why is this being asked of me?
To satisfy the Money Laundering Regulations any Caldicot conveyancing firm will require evidence of your identity in all conveyancing transactions. This is usually satisfied by provision of a passport and an original bank statement or utility account evidencing where you live.
Under Money Laundering Regulations, conveyancers are duty bound to investigate not simply the identity of conveyancing clients but also the source of the money that they receive in respect of any matter. Refusal to disclose this may lead to your lawyer terminating their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers will have an obligation to inform the appropriate authorities should they consider that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
I have an AIP. The lender mentioned the mortgage came with free conveyancing. Is the implication that I have to use their panel lawyer as I would much rather use a local conveyancing solicitor in Caldicot?
Do check but the chances are that allocate you one of their panel lawyers where you want the "fee-free" offer. Speak to the lender to determine if they allow a monetary alternative. Some mortgage companies have previously offered a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor near Caldicot.
Do commercial conveyancing searches disclose impending roadworks that may impact a commercial estate in Caldicot?
Its becoming the norm that commercial conveyancing solicitors in Caldicot will perform a SiteSolutions Highways report as it reduces the time that conveyancers expend in investigating accurate data on highways that impact buildings and development assets in Caldicot. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Caldicot.
For each commercial conveyancing transaction in Caldicot it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately can cause delays to Caldicot commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not ordered for domestic conveyancing in Caldicot.
About to purchase a new build flat in Caldicot. Conveyancing is a frightening process 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 conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Caldicot
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Please provide evidence that the form of Lease proposed has been approved by the Land Registry. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
I need to find a conveyancing solicitor for remortgage conveyancing in Caldicot. I've discover a web site which seems to have the perfect offering If it is possible to get all formalities completed via email that would be preferable. Should I be concerned? What are the potential pitfalls?
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?