All was ready to move into my new home in Coombe next Tuesday. 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 banks 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 limited to conveyancing in Coombe.
I am helping my aunt sell her flat in Coombe. Will the solicitor order the EPC or do I organise this?
After the demise of HIPs, energy assessments remained a required part of moving property. An energy performance certificate should be commissioned before the property is placed on the market. It is not something that law firms ordinarily arrange. Where you are instructing a Coombe conveyancing lawyer they may be willing to arrange energy performance certificates due to their contacts with reputable Coombe providers
Can you point me to a directory of Clydesdale panel solicitors in Coombe on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings visible on the web. Where you are seeking to appoint a Coombe property lawyer on the Clydesdale please use our facility.
I have decided to exercise my right to buy my property in Coombe off the council. I have a mortgage agreed with Virgin Money. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Virgin Money, you will need to appoint a solicitor on the Virgin Money conveyancing panel.
What will a local search inform me concerning the house we're buying in Coombe?
Coombe conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search company for example Searches UK The local search plays an important role in most Coombe conveyancing purchase; as long as you don’t want any nasty once you have moved into your new home. The search will reveal information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic sections.
I decided to have a survey carried out on a property in Coombe ahead of appointing solicitors. I have been advised that there is a flying freehold aspect to the property. My surveyor advised that some mortgage companies tend not grant a mortgage on a flying freehold house.
It varies from the lender to lender. Santander has different instructions from Nationwide. Should you wish to call us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Coombe. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Coombe to see if the conveyancing will be more expensive.
I'm refinancing my existing property to a BTL loan with Bank of Scotland and intend to use the remaining equity towards further property. The location we are talking about is Coombe. Will your lawyers be able to act for both sets of lenders and link together the two deals?
Make use of our search tool on this site to ensure that the lawyers are approved by both lenders. On the basis that they are the conveyancer will be able to simultaneously deal with the two deals but you should talk with you solicitor and make apparent your desired outcome and requirements.
We own a leasehold flat in Coombe. Conveyancing was finished in 21012. I have been told that I mustn’t allow the the remaining lease term to fall too short. Is this correct?
Coombe leasehold properties are for a fixed period - usually just under one hundred years when they started. However a significant flats in Coombe were built or converted 30 or more years ago and so these leases now have less than 80 years remaining. This may sound like plenty of time however Banks, Building Societies and other mortgage lenders generally require leases to have at least 75 years unexpired to adequate security. Accordingly when you come to sell the property you will need a lease extension if you are nearing eighty years. To enhance the saleability of your property you should be considering whether to extend your lease well in advance of selling the property. You should note that there are advantages to taking action before the lease reaches even eighty years as when the lease is less than eighty years the premium you have to pay to extend starts to escalate.