I am hoping to move into my new home in Clifton next Friday. My conveyancer now wants me to supply her with evidence 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 lender. What risks does the mortgage company 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 requirements. These obligations are not unique to conveyancing in Clifton.
It has been 2 months since my purchase conveyancing in Clifton took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. 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 premises 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.
How does conveyancing in Clifton differ for new build properties?
Most buyers of new build or newly converted property in Clifton come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because house builders in Clifton typically buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Clifton or who has acted in the same development.
I decided to have a survey carried out on a house in Clifton prior to retaining conveyancers. I have been advised that there is a flying freehold element to the house. The surveyor advised that some mortgage companies tend refuse to issue a loan on this type of premises.
It varies from the lender to lender. HSBC has different instructions from Birmingham Midshires. Should you wish to call us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Clifton. Conveyancing may be slightly more expensive based on your lender's requirements.
How difficult is it to swap firm as I have to choose a firm on the Norwich and Peterborough Building Society conveyancing list. I hired a local conveyancing solicitor in Clifton five minutes from me but he is not approved by Norwich and Peterborough Building Society
It would be our pleasure to assist you select a conveyancing solicitor in Clifton on the Norwich and Peterborough Building Society panel. Please note that the law firms that we work with do not pay us commission if you instruct them and are regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in Clifton. In utilising search facility on this page, you can contrast charges for conveyancing solicitors in Clifton and throughout England and Wales.
Is it the case that all Clifton conveyancers on every lender conveyancing panel?
You can use our search tool or you can drop into your high street bank branch in Clifton. the probability is that they can recommend conveyancing solicitors in Clifton