Due to move into my new home in Coulsdon 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 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 instructions. These requirements are not unique to conveyancing in Coulsdon.
I can not fathom if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Coulsdon building society branch on various occasions and was told it does not affect the mortgage offer and they will lend. My Coulsdon conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they will not lend based on their published requirements. I simply don't know who is right.
Provided that the conveyancer is on the mortgage company approved list, they must follow the Council of Mortgage Lenders’ Handbook provisions for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
After months of negotiation I have agreed a price on a house in Coulsdon. My mortgage broker suggested a lawyer. I paid an on account payment of £200. A few days later, the solicitor contacted me embarrassingly acknowledging that they were not on the Kent Reliance conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Kent Reliance panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am selling my flat. I had a double glazing fitted in January 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Aldermore are being problematic. The Coulsdon solicitor who is on the Aldermore conveyancing panel is recommending indemnity insurance as a solution but Aldermore are insisting on a building regulation certificate. Why do Aldermore have a conveyancing panel if they don't accept advice from them?
It is probably the case that Aldermore have referred the matter to their valuer. The reason why Aldermore may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I have a renovated Georgian property in Coulsdon. Conveyancing lawyer represented me and Santander. I did a free Land Registry search last week and there are two entries: the first freehold, another for leasehold with the exact same address. If a house is not a freehold shouldn't I have been informed?
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Coulsdon and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the situation with your conveyancing practitioner who completed the work.
I am looking for a ground for flat up to £235,500 and found one near me in Coulsdon I like with a park and transport links nearby, however it only has 51 years unexpired on the lease. I can't really find anything else in Coulsdon for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a home loan that many years will be problematic. Discount the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of 2 years you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this matter.
How simple is it to switch conveyancer as I have to instruct a firm on the Barnsley Building Society conveyancing list. I hired a local conveyancing solicitor in Coulsdon five minutes from me but he is not accepted by Barnsley Building Society
It would be our pleasure to assist you find a conveyancing solicitor in Coulsdon on the Barnsley Building Society panel. Please note that the conveyancers that we on the directory do not pay us a referral fee if you instruct them and are fully regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in Coulsdon. In making use of the find a conveyancing solicitor tool on this website, you can compare and instruct different solicitors and conveyancers both nationally and in Coulsdon.
I am using a search engine for the term conveyancing in Coulsdon it shows results of many property lawyersin the area. How do I determine which is the suitable conveyancing solicitor for my move?
The best method of finding the right conveyancer is via personal referral, so ask colleagues and relatives who have acquired a property in Coulsdon or a respected estate agent or financial adviser. Costs for conveyancing in Coulsdon differ, so it's a good idea to obtain at least four fee calculations from different law firms. Make sure that you know what costs in the quote includes.