Due to complete my purchase in Hemel Hempstead 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 bank. What risks does the mortgage company expect the insurance to cover?
Any lawyer 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 UK Finance Lenders’ Handbook conditions. These obligations are not unique to conveyancing in Hemel Hempstead.
Is it the case that all Hemel Hempstead CQS (Conveyancing Quality Scheme) solicitors are on the HSBC conveyancing list of approved firms?
It is true that some banks and building societies now use CQS as the kick off point for Panel approval such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their panels.
After much negotiation I have agreed a price on an apartment in Hemel Hempstead. My financial adviser pressured me to appoint their property lawyer. I paid an on account payment of £200. A couple of days later, the conveyancing practitioner called me to say that they were not on the RBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the RBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am due to exchange contracts on my flat. I had a double glazing fitted in April 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Nottingham are being pedantic. The Hemel Hempstead solicitor who is on the Nottingham conveyancing panel is recommending indemnity insurance as a solution but Nottingham are requiring a building regulation certificate. Why do Nottingham have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nottingham have referred the matter to their valuer. The reason why Nottingham may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I am purchasing a new build house in Hemel Hempstead with the aid of help to buy. The sellers would not budge the price so I negotiated 6k of additionals instead. The house builders rep suggested that I not inform my lawyer about this deal as it would adversely affect my loan with the lender. Is this normal?.
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 completed on a house in Hemel Hempstead in advance of retaining conveyancers. I have been advised that there is a flying freehold overhang to the house. The surveyor has said that some mortgage companies tend refuse to issue a mortgage on such a premises.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Halifax. If you e-mail us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Hemel Hempstead. Conveyancing may be slightly more expensive based on your lender's requirements.
I'm remortgaging my primary house to a buy to let mortgage with Leeds Building Society and intend to use the remaining equity towards another house. The location we are talking about is Hemel Hempstead. Will your solicitors be able to act for the two mortgage companies and tie in the two deals?
Make use of our search tool on this page to be sure that the lawyers are on the relevant lender panels. On the basis that they are your conveyancer will be able to connect the two transactions but you should talk with you lawyer and specify your desired outcome and requirements.
My partner is purchasing a ground floor flat in Hemel Hempstead. He was given a quote by the property lawyer suggested by the estate agents totaling £1250 . It was eight years ago I sold and bought a house and the bill was £495. Have charges really gone up that much?
You should visit 3 or 4 local Hemel Hempstead conveyancing solicitors seeking estimates. It is advisable to base your decision not just on cost, but on promptness and on how comprehensive the reply is.