I am told that my conveyancing solicitors will need to check that the building insurance for my purchase of a house in Kings Norton. My lender is The Mortgage Works
The Mortgage Works have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 30/11/2023, the requirements read as follows :
Are there restrictive covenants that are commonly picked up as part of conveyancing in Kings Norton?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Kings Norton. 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…’
How does conveyancing in Kings Norton differ for new build properties?
Most buyers of new build property in Kings Norton come to us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because new home sellers in Kings Norton tend to purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Kings Norton or who has acted in the same development.
What does commercial conveyancing in Kings Norton cover?
Kings Norton conveyancing for business premises covers a broad range of advice, supplied by regulated solicitors, relating to business property. For instance, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
We're novice buyers - agreed a price, yet the agent has warned us that the seller will only issue a contract if we use their preferred lawyers as they need a ‘quick sale’. We would rather use a high street solicitor with experience of conveyancing in Kings Norton
We suspect that the seller is unaware of this ultimatum. If they desire ‘a quick sale', alienating a genuine buyer is is going to put the whole deal at risk. Speak to the vendors direct and explain that (a)you are motivated buyers (b)you are excited to move forward, with mortgage lined up © you are chain free (d) you wish to move quickly (e)however you will continue to use your preferred Kings Norton conveyancing lawyers - not the ones that will give their negotiator at the agency a referral fee or meet his conveyancing targets demanded by HQ.
My plan is to purchase a garden apartment in Kings Norton. Conveyancing solicitor has been awaiting, from the owner, building insurance schedule. This afternoon I was informed that the seller must send the insurance documents for the flat above in addition. Why would my conveyancer need to see the insurance for the other flat? Is it strictly necessary? We have been in hold for the previous fortnight…
It is not unheard of in leasehold conveyancing in Kings Norton to find Conveyancing in Kings Norton in a minority of cases reveals that the lease obliges the leasehold owners to insure their individual flats rather than the freeholder insuring the complete block - which is clearly better. You should double check with your conveyancing practitioner but it would appear that your solicitor is looking to verify that the complete building is insured. Insuring a ground floor apartment is no help when it comes to rebuilding after a fire if the 1st floor cannot be rebuilt for lack of insurance.