All was ready to move into my new home in Hedge End and Botley next Thursday. My lawyer now wants me to supply her with proof 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 does the insurance need 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 obligations are not specific to conveyancing in Hedge End and Botley.
We see that you have a search directory listing law firms on the Nationwide conveyancing panel. Do firms pay you a referral fee if I appoint them for our own conveyancing in Hedge End and Botley?
We are a listing service only for law firms wishing to communicate if they are on the Nationwide conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Hedge End and Botley.
My wife and I are purchasing a apartment in Hedge End and Botley. I might seem paranoid but how we can trust a solicitor? On completion day we have to send funds into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Completion of my purchase has taken place for my property in Hedge End and Botley. Conveyancing was satisfactory but I would like to complain about the lender. How do I make a complaint?
Most banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. Ordinarily complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
After what feels like an age I have had an offer on an apartment in Hedge End and Botley accepted, but there is a chain. The sellers have placed an offer on a flat, however it’s not yet tied up, and have viewings of other apartments booked. I have selected a nearby conveyancing solicitor in Hedge End and Botley. What should be my next step? When should I get the mortgage application with HSBC started?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is in the region of one thousand pounds, then survey, Hedge End and Botley conveyancing search fees, etc). First, you should ensure that your conveyancer is on the HSBC approved list. Concerning the next stages this very much dictated by the specifics of your transaction, desire for this property and on the state of the market. In a rising market the majority of purchasers would apply for a home loan with HSBC and arrange for the valuation and only if it comes back ok would they ask their solicitor to move forward with searches.
I used Stirling Law several years ago for my conveyancing in Hedge End and Botley. I now require my file but cannot find the solicitor. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Hedge End and Botley of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Can you provide any top tips for leasehold conveyancing in Hedge End and Botley from the perspective of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Hedge End and Botley can be bypassed if you get in touch lawyers the minute your agents start advertising the property and ask them to put together the leasehold information which will be required by the buyers’ lawyers. You believe that you know the number of years remaining on your lease but you should verify this by asking your lawyers. A purchaser's lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 80 years. It is therefore essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale. A minority of Hedge End and Botley leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors. If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Hedge End and Botley state that internal structural alterations or addition of wooden flooring necessitate a licence issued by the Landlord consenting to such works. Should you dont have the approvals in place do not contact the landlord without checking with your lawyer first. If there is a history of conflict with your freeholder or managing agents it is essential that these are settled before the property is marketed. The purchasers and their solicitors will be warry about purchasing a flat where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to reveal the dispute as over rather than unsettled.
Hedge End and Botley Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to Purchasing
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How is the lease structured? Who is in charge of the block? Are there any major works anticipated that could add a premium to the maintenance fees?
When it comes to my conveyancing in Hedge End and Botley should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Hedge End and Botley conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the conveyancer's time in submitting the funds this way.