I am hoping to complete my purchase in High Holborn 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 lender 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 UK Finance Lenders’ Handbook conditions. These obligations are not unique to conveyancing in High Holborn.
Have just purchased a probate house at auction in High Holborn. Conveyancing is required. What happens now?
Now that you are exchanged you will need to retain a conveyancing solicitor quickly as you are faced with a fast approaching a drop dead date to complete the conveyancing. An auction property will ordinarily have an associated legal set of papers. This will likely include evidence of title and search results. If you have purchased leasehold property the legal papers may provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork specific to a leasehold property. You must pass this on to your appointed conveyancing solicitor as soon as possible. You also need to ensure that you have funds in order to complete the transaction on the set completion date.
We have agreed to purchase a house in High Holborn. One unusual aspect is that the roof has a solar panel. Nottingham have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Nottingham your lawyer must comply with the formal instructions outlined in Part 2 of UK Finance Lenders’ Handbook for Nottingham. The Council of Mortgage Lenders’ Handbook includes minimum requirements for solar panel roof-space leases, and conveyancers are required to report to Nottingham where a lease does not satisfy these requirements. The conditions relate to the installation of panels on properties nationwide and is not restricted to High Holborn.
I've read lots of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local High Holborn solicitor - who is on the Santander conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Santander will need an independent valuation of the property. Your lawyer will not arrange this. Usually Santander will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your High Holborn postcode. As you are getting a mortgage with Santander, you could contact them to see if they have a list of approved surveyors in High Holborn.
Should my lawyer be raising questions concerning flooding during the conveyancing in High Holborn.
The risk of flooding is if increasing concern for solicitors dealing with homes in High Holborn. Some people will acquire a property in High Holborn, completely aware that at some time, it may be flooded. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Solicitors are not best placed to give advice on flood risk, but there are a numerous searches that may be carried out by the buyer or by their solicitors which can figure out the risks in High Holborn. The standard completed inquiry forms given to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) incorporates a standard inquiry of the seller to determine if the premises has suffered from flooding. In the event that flooding has previously occurred and is not revealed by the owner, then a buyer could issue a compensation claim stemming from an misleading response. The purchaser’s solicitors will also commission an environmental report. This will disclose whether there is a recorded flood risk. If so, additional inquiries will need to be carried out.
I used Wolstenholmes several years past for my conveyancing in High Holborn. I now require my papers however the law firm has closed. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate 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 High Holborn of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Taking into account that I am about to spend over three hundred thousand on a terraced house in High Holborn I would like to have a conversation with the conveyancer concerning theconveyancing in advance of instructing the firm. Is this something that you can arrange?
We could not agree more - we would be happy to talk to you we do not take any clients on without you liaising with the lawyer due to be carrying out your property ownership legalities in High Holborn.There is no ‘factory style conveyancing’ - each client is an important person, not a matter number. The law firms that we put you in touch with believe that the figure you are quoted for your conveyancing in High Holborn should be the figure that you end up paying.
I am seeking to acquire a repossessed flat in High Holborn and the bank selling demand completion within 28 days. Can a property lawyer meet that timeframe? Would it be better to use a high street High Holborn firm or an online company that advertises to offer speedy conveyancing?
Visit your High Holborn high street. Pop in to 3 firms and request to see a conveyancing solicitor for a quote. Set out your situation and get a commitment on speed. Choose the firm that seems most genuine. You need to select a property lawyer on the panel of solicitors who can act for your lender.