Due to move into my new home in Hanwell next Friday. 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 bank. What risks does the bank expect the insurance 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 requirements. These requirements are not unique to conveyancing in Hanwell.
I require fast conveyancing in Hanwell as I have pressure to complete inside one month. A home loan is not required. Is it possible to escape the need for conveyancing searches to save fees and time?
As you are are a cash purchaser you have the choice not to do searches although no solicitor would advise that you don't. With lots of history conveyancing in Hanwell the following are instances of issues that can arise and adversely affect the marketability of the property: Refused Planning Applications, Outstanding Charges, Outstanding Grants, Unadopted Roads,...
I'm purchasing my first flat in Hanwell benefiting from help to buy. The developers refused to move on the amount so I negotiated £7000 of additionals instead. The sale representative advised me not to tell my conveyancer about the deal as it could affect my loan with the lender. 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 opted to have a survey done on a house in Hanwell before instructing lawyers. I have been told that there is a flying freehold overhang to the property. Our surveyor has said that some lenders may not give a mortgage on a flying freehold property.
It depends who your proposed lender is. Santander has different instructions for example to Nationwide. If you call us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Hanwell. Conveyancing may be slightly more expensive based on your lender's requirements.
Hoping to buy a property located in Hanwell and I am already nervous. I couldn't find anything specific about Hanwell. Conveyancing will be needed in due course but do you know about the Hanwell area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Hanwell. In the meantime here are some basic statistics that we found
I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have just found out that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Hanwell. Conveyancing solicitors have not yet been instructed. Will they explain the issues?
Most houses in Hanwell are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area who can assist with the conveyancing process. We note that you are buying in Hanwell in which case you should be shopping around for a Hanwell conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the house is part of an estate. Your solicitor should advise you fully on all the issues.
We have reached the end of our tether in trying to reach an agreement for a lease extension in Hanwell. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most certainly. We are happy to put you in touch with a Hanwell conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Hanwell flat is 6 Jessamine Road in August 2013. The Tribunals valuation (as annexed to the decision) calculated the amount payable as £18,355 for the freehold reversion This case affected 2 flats. The remaining number of years on the lease was 72.39 years.