It has come to my attention via my financial adviser that my Empingham lawyer is not on the lender Solicitor panel. What can I do to be certain if this is indeed the case?
The first thing you need to do is to contact your Empingham lawyer directly. You lawyer should notify you what has happened. Where they are not on the panel they may be able to suggest a Empingham conveyancing practice that is on the conveyancing panel for your mortgage company.
Due to move into my new home in Empingham 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 mortgage company. What does the insurance need to cover?
Any lawyer on acting for lenders 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 requirements. These obligations are not specific to conveyancing in Empingham.
We are planning on selling our property in Empingham and according to the buyers it appears that there is a possibility that the property was constructed land that was not decontaminated. Any high street Empingham lawyer would know that there is no such problem. For the life of me I don't know why the buyers instructed a factory type conveyancing outfit as opposed to a conveyancing solicitor in Empingham. Having lived in Empingham for many years we know of no issue. Do we get in touch with our local Authority to obtain confirmation need.
It sounds as though you may have a conveyancing lawyer currently acting for you. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
I decided to have a survey done on a property in Empingham prior to appointing solicitors. I have been advised that there is a flying freehold element to the house. The surveyor advised that some mortgage companies may refuse to grant a loan on such a home.
It depends who your proposed lender is. Bank of Scotland has different instructions from Halifax. If you call us we can check 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 Empingham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Empingham to see if the conveyancing costs will increase in light of this.
We're FTB’s - had an offer accepted, yet the agent told us that the owners will only proceed if we instruct the agent's preferred solicitors as they need a ‘quick sale’. We would rather use a local conveyancer with experience of conveyancing in Empingham
We suspect that the owner is unaware of this requirement. Should the owner desire ‘a quick sale', turning down a genuine buyer is counter productive. Bypass the agents and go straight to the owners and make the point that (a)you are motivated buyers (b)you are ready to progress, with finances in place © you do not need to sell (d) you wish to move quickly (e)but you will continue to appoint your own,trusted Empingham conveyancing lawyers - not the ones that will provide the estate agent a commission or meet his conveyancing figures pre-set by senior management.
I own a leasehold flat in Empingham. Conveyancing was completed in 2011. I have heard that I mustn’t let the the remaining lease term to get too short. Is this right?
Empingham residential long term leases are for a prescribed period - usually just under one hundred years when they started. However a significant appartments in Empingham were constructed or converted in the 60’s and so these leases now have less than 80 years remaining. This may seem like a long time however Banks, Building Societies and other mortgage institutions tend to need leases to have a minimum of seventy five years unexpired to be mortgageable. Accordingly when you come to sell the property you will need a lease extension if you are nearing eighty years. To optimize the saleability of your property you should be thinking about whether or not to extend your lease well in advance of selling the property. Furthermore strong financial reasons to taking action before the lease hits 80 years as when the lease falls below 80 years the premium you have to pay to extend starts to escalate.