I am hoping to move into my new home in Hampton next Monday. My property lawyer now wants me to supply her with evidence of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the lender. What risks does the lender expect the insurance to cover?
All property lawyers 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 unique to conveyancing in Hampton.
Why do I have to pay up front when it comes to conveyancing in Hampton?
If you are buying a property in Hampton your solicitor will ask you put them with funds to cover the search fees. Generally this is called for to cover the fees of the conveyancing searches. When the deposit is as part of the sale price then this should be required shortly in advance of exchange of contracts. The final balance that is due should be transferred a couple of days ahead of the completion date.
I am buying my first flat in Hampton with a mortgage from Lloyds TSB Bank. The builders would not budge the price so I negotiated £7000 of fixtures and fittings instead. The house builders rep advised me not disclose to my conveyancer about this side-deal as it will impact my loan with Lloyds TSB Bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently found out that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a simple, chain free conveyancing. Hampton is the location of the property. Can you shed any light on this issue?
Flying freeholds in Hampton are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Hampton you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hampton may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Given that I will soon part with over three hundred thousand on a terraced house in Hampton I wish to talk to a lawyer regarding thehome move prior to instructing the firm. Is this something that you can arrange?
This is something that we encourage - we would be delighted to talk to you we do not take any clients on without you liaising with the lawyer who will be carrying out your property ownership legalities in Hampton.There is no ‘factory style conveyancing’ - each client is an important person, not a file reference. The solicitors that we put you in touch with believe that the figure you are quoted for residential conveyancing in Hampton should be the figure that you end up paying.
As co-executor for the estate of my grandmother I am selling a residence in Cardiff but reside in Hampton. My solicitor (approximately 260 miles from merequires that I sign a statutory declaration prior to the transaction finalising. Can you recommend a conveyancing practitioner in Hampton who can attest and place their company stamp on the document?
strictly speaking you are not likely to need to have the documents witnessed by a conveyancing solicitor. Normally or notary public or solicitor will suffice regardless of whether they are based in Hampton