Due to complete my purchase in Kidsgrove next Thursday. My conveyancing practitioner now wants me to supply her with evidence of content and building insurance for the property as as she informs me that she is duty bound to validate that it is in order for the lender. What risks does the mortgage company expect the insurance to cover?
All property lawyers 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 requirements. These obligations are not unique to conveyancing in Kidsgrove.
Finally the sale completed on my house in Kidsgrove last January yet the purchaser is Skype messaging me to moan that his solicitor needs to hear from mylawyer. What should my lawyer have done now that I have sold?
After completion of your disposal your conveyancer is obliged to forward the transfer deeds and all supplemental paperwork to the purchaser's lawyers. Depending on the transaction, your solicitor must also send confirmation that the mortgage has been repaid to the buyers lawyers. There is unlikely to be post completion formalities unique to conveyancing in Kidsgrove.
Are there restrictive covenants that are commonly identified as part of conveyancing in Kidsgrove?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Kidsgrove. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am looking for a leasehold apartment up to £305k and identified one close by in Kidsgrove I like with open areas and railway links in the vicinity, the downside is that it's only got 52 years on the lease. There is not much else in Kidsgrove for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a mortgage the shortness of the lease will be problematic. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
As co-executor for the will of my grandfather I am disposing of a property in Cardiff but reside in Kidsgrove. My solicitor (who is 235 kilometers from merequires that I sign a stat dec before the transaction finalising. Can you recommend a conveyancing solicitor in Kidsgrove to witness and place their company stamp on the document?
Technically speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or solicitor will be fine regardless of whether they are Kidsgrove based
Why can't I complete our conveyancing in Kidsgrove on May bank holiday?
This is due to the fact that on completion the money needs to pass between the banks of the purchaser and seller's conveyancing practitioner and at present this can only happen on a working day. So you can't complete on a saturday or sunday either.