All was ready to complete my purchase in Hammersmith next Thursday. 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 mortgage company. What risks does the mortgage company expect the insurance 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 instructions. These obligations are not specific to conveyancing in Hammersmith.
I own a freehold house in Hammersmith but still pay rent, why is this and what is this?
It is rare for properties in Hammersmith and has limited impact for conveyancing in Hammersmith but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
I am purchasing a house and require a conveyancing solicitor in Hammersmith who is on the Bank of Scotland conveyancing. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Bank of Scotland in certain locations such as Hammersmith. We dont recommend any particular firm.
What does a local search tell me regarding the property my wife and I buying in Hammersmith?
Hammersmith conveyancing often commences with the ordering local authority searches directly from your local Authority or via a personal search company for example PSG The local search plays a central part in many a Hammersmith conveyancing purchase; as long as you don’t want any nasty once you have moved into your new home. The search will reveal data on, amongst other things, details on planning applications applicable 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.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and identified one round the corner in Hammersmith I like with a park and station nearby, however it only has 52 years unexpired on the lease. There is not much else in Hammersmith in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a mortgage the shortness of the lease may be a potential deal breaker. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of 2 years you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
I am using a search engine for the phrase cheap conveyancing in Hammersmith it reveals many conveyancersin the area. With so much choice what is the best way to find the suitable conveyancing solicitor for my move?
The ideal method of finding the right conveyancer is via personal testimonial, so ask colleagues and those you trust who have purchased a property in Hammersmith or a local estate agent or financial adviser. Charges for conveyancing in Hammersmith vary, so it's advisable to obtain a minimum of four quotes from varying types of property lawyers. Make sure that you know what costs in the quote includes.