I am hoping to move into my new home in Holland Park 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?
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 conditions. These obligations are not limited to conveyancing in Holland Park.
Completed the sale of my flat in Holland Park last April but my buyer keeps telephoning every few hours to say her lawyer is waiting to hear from mine. What should have happened following completion?
Following your house sale your solicitor is committed to send the transfer deeds and all additional paperwork to the buyer’s solicitors. If applicable, your solicitor should also send confirmation that the mortgage has been discharged to the buyers lawyers. There are no post completion steps specific conveyancing in Holland Park.
This question may be naive but I am unseasoned as a first time buyer of a ground floor flat in Holland Park. Do I receive the keys to the property on the completion date from my conveyancer? If this is the case, I will instruct a local conveyancing solicitor in Holland Park?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will arrange to send the completion advance to the vendor’s lawyers, and shortly after the monies have arrived, you should be invited to receive the keys from the Estate Agents and move into your new home. This tends to happen early afternoon.
My husband and I have organised the release of further funds on our home loan from HSBC as we want to conduct a loft conversion to our home in Holland Park. Do we need to select a high street Holland Park solicitor on the HSBC conveyancing panel to handle the legals?
HSBC don't usually require a member of their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the HSBC list.
We have agreed to purchase a house in Holland Park. An unusual aspect is that the roof has a solar panel. Santander have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Santander your lawyer must comply with the formal requirements outlined in Part two of UK Finance Lenders’ Handbook for Santander. The Council of Mortgage Lenders’ Handbook stipulates minimum specifications for solar panel roof-space leases, and conveyancers are required to report to Santander where a lease does not comply with these conditions. The conditions relate to the installation of panels on properties countrywide and is not limited to Holland Park.
I have justbeen informed that Stirling Law have been shut down. They conducted my conveyancing in Holland Park for a purchase of a leasehold apartment 9 months ago. How can I establish that the property is not still registered in the name of the previous owner?
The quickest way to check if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Holland Park conveyancing specialists.
I'm purchasing my first flat in Holland Park benefiting from help to buy. The sellers refused to reduce the amount so I negotiated £7000 of additionals instead. The estate agent told me not reveal to my lawyer about this deal as it would put at risk my mortgage with the bank. 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 have been sourcing a conveyancing solicitor in Holland Park for my sale. Can I review a firm’s complaints history with the legal regulator?
You can find published Solicitor Regulator Association (SRA) determinations arising from investigations commenced on or after 1 January 2008. Visit Check a solicitor's record. For information about the period before 1 January 2008, or to check a firm's record, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, use +44 (0)121 329 6800. The SRA sometimes monitor telephone calls for training requirements.