All was ready to move into my new home in Crofton Park next Monday. 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?
Any lawyer 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 Part 2 instructions. These obligations are not limited to conveyancing in Crofton Park.
It is 10 years ago since I acquired my house in Crofton Park. Conveyancing solicitors have recently been retained on the sale but I am unable to locate the title documents. Is this a major issue?
You need not be too concerned. Firstly there is a possibility that the deeds will be kept by your mortgage company or they may stored with the conveyancers who oversaw the purchase. Secondly in most cases the title will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing lawyers procuring up to date copy of the land registers. Almost all conveyancing in Crofton Park involves registered property but in the unlikely event that your property is not registered it is more of a problem but is resolvable.
The Crofton Park conveyancing firm that I appointed last week on my purchase in Crofton Park have without warning closed. They were on acting for me because I needed a lawyer on the Lloyds conveyancing panel and my preferred Crofton Park lawyer was not. I cut them a cheque for two hundred pounds in advance. What should be my next steps?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Lloyds conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to assist.
What will a local search tell me concerning the house we're buying in Crofton Park?
Crofton Park conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search company for instance PSG The local search is essential in every Crofton Park conveyancing purchase; as long as you don’t want any nasty once you have moved into your new home. The search should provide data on, amongst other things, details on planning applications relevant to the premises (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 headings.
The deeds to our home can not be found. The lawyers who did the conveyancing in Crofton Park 10 years ago have long since closed. Will I be able to sell the house?
In today’s world there are copies made of almost everything, and your solicitor will be aware precisely where to locate all the appropriate paperwork so you may buy or dispose of your property without a hitch. Where duplicates can’t be located, your solicitor can arrange cover in the form of insurance or indemnities against possible claims on the property.
Hoping to buy a property located in Crofton Park and I am already nervous. I couldn't find anything specific about Crofton Park. Conveyancing will be needed in due course but do you know about the Crofton Park area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Crofton Park. In the meantime here are some basic statistics that we found