I am hoping to move into my new home in Cookham next Thursday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the lender. What does the insurance need 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 UK Finance Lenders’ Handbook requirements. These requirements are not specific to conveyancing in Cookham.
I had intended to instruct a conveyancing solicitor in Cookham for our house move. Our broker has since advised us that our mortgage lenders TSB won't deal with them. Why is this not regarded as unfair competition?
Mortgage Companies in the main restrict either the type or the number of conveyancing practices on their member panel. Typical examples of such criteria being that a law practice must have two or more partners. In addition to restricting the type of firm, a few lenders have reduced the number of firms they use to act for them. Be aware that TSB have no responsibility for the quality of advice provided by any member of TSB Conveyancer Panel. Mortgage fraud was a primary driver in the rationalisation of solicitor panels since 2008 even though there remains mixed opinions about the extent of solicitor engagement in some of that fraud. Statistics from the Land Registry reveal that hundreds of law firms, including some in or near Cookham only perform one or two conveyances per annum.
We are aiming to move property in March. Will my conveyancing solicitor update the removal company on the day of completion. Incidentally, can you put forward a removal company in Cookham. Conveyancing lawyer was found before I stumbled across your site.
On the day of completion you will need to pick up the keys from the estate agent but this should only happen once the vendors solicitors inform the agent that the monies to complete are in and the keys can be passed over. You will need to tell the removal men that you are ready to move in. As a matter of policy we do not suggest a specific removal organisation but can help you locate a residential property solicitor in Cookham or a lawyer that specialises in conveyancing in Cookham.
I was told four weeks ago that my mortgage has been agreed to by Leeds Building Society. Is it usual for Leeds Building Society to only issue the offer once my solicitor in Cookham is approved on their conveyancing panel? Leeds Building Society have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Leeds Building Society to deal with your lawyer's application to be on the Leeds Building Society conveyancing panel. There's no guarantee that your solicitor will be accepted.
Santander have agreed my mortgage in principle, my bid on a flat in Cookham has been agreed to, what are the next steps?
Your property agent will need to be informed of your property lawyer's details (be sure the conveyancing practitioners are on the lender’s panel). Telephone Santander or the financial adviser and complete any appropriate documentation. Santander will appoint a valuer who will get in contact with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes approximately a week for the mortgage offer to be issued. Santander will issue the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Cookham.
Should our solicitor be making enquiries concerning flooding as part of the conveyancing in Cookham.
The risk of flooding is if increasing concern for conveyancers carrying out conveyancing in Cookham. Some people will buy a property in Cookham, fully expectant that at some time, it may be flooded. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Conveyancers are not best placed to impart advice on flood risk, but there are a number of searches that can be undertaken by the purchaser or by their conveyancers which should give them a better understanding of the risks in Cookham. The standard completed inquiry forms sent to a buyer’s lawyer (where the Conveyancing Protocol is adopted) includes a standard question of the vendor to discover whether the premises has historically flooded. If the premises has been flooded in past which is not disclosed by the seller, then a purchaser may issue a claim for damages stemming from an inaccurate answer. The buyer’s conveyancers should also order an environmental search. This should higlight if there is any known flood risk. If so, more detailed investigations will need to be conducted.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in last month in what should have been a simple, chain free conveyancing. Cookham is where the house is located. Is there any guidance you can impart?
Flying freeholds in Cookham are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Cookham you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cookham may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
How simple is it to use your search facility to get a fee calculation from a conveyancing practitioner in Cookham on the authorised to act for my bank?
First pick a lender such as Barclays , The Mortgage Works or Alliance & Leicester then choose your preferred area for example Cookham. Conveyancing organisations in Cookham and beyond should be listed.