Due to complete my purchase in Elephant and Castle 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 mortgage company. 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 Part 2 conditions. These requirements are not specific to conveyancing in Elephant and Castle.
We see that you have a search directory identifying law firms on the HSBC conveyancing panel. Do companies pay you a referral fee if I instruct them for our conveyancing in Elephant and Castle?
We are a listing service only for law firms wishing to communicate if they are on the HSBC conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Elephant and Castle.
We expect to receive a DIP from Coventry BS this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Coventry BS recommend any Elephant and Castle solicitors on the Coventry BS conveyancing panel, or is it better to go independently?
You will need to appoint Elephant and Castle solicitors independently although you'll need to choose one on the Coventry BS conveyancing panel. The solicitor represents both you and Coventry BS through the process.
The formalities of my remortgage has taken place for my property in Elephant and Castle. Conveyancing was a necessary evil but I would like to complain about the lender. How do I make a complaint?
All lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
It is unclear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Elephant and Castle bank branch on various occasions and was told it does not affect the mortgage offer and they would lend. My Elephant and Castle conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they would not lend based on their specific requirements. Who do I believe?
As long as the conveyancing practitioner is on the lender panel, she or he must follow the CML Handbook conditions for the lender. Unless your lawyer obtains specific confirmation in writing that the bank 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.
three months have elapsed following my purchase conveyancing in Elephant and Castle completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £180,000. 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 residence 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.
I decided to have a survey completed on a property in Elephant and Castle prior to retaining lawyers. I have been told that there is a flying freehold overhang to the house. The surveyor has said that some lenders may not grant a loan on this type of home.
It depends who your proposed lender is. Santander has different instructions for example to Halifax. If you e-mail us we can look into this further via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Elephant and Castle. Conveyancing may be slightly more expensive based on your lender's requirements.
Is planning consent required to split a single dwelling into a couple of appartments in Elephant and Castle? This has been done to a house next door to my house in Elephant and Castle and was ignorant of the conversion until it was done.
Planning Consent yes. Building Regulations yes.