I am hoping to move into my new home in Kirkheaton next Tuesday. My solicitor now wants me to supply her with evidence of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the mortgage company. What does the insurance need 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 Part 2 conditions. These requirements are not unique to conveyancing in Kirkheaton.
We note that you have a post code search directory identifying solicitors on the Virgin Money conveyancing panel. Do companies pay you a referral fee if I instruct them for our conveyancing in Kirkheaton?
We are a listing service only for law firms wishing to communicate if they are on the Virgin Money conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Kirkheaton.
My Conveyancer in Kirkheaton is not on the Chelsea Building Society Approved Panel. Is it possible for me to use my family solicitor even though they are not on the Chelsea Building Society approved list?
Your options are as follows:
- Carry on with your existing Kirkheaton solicitors but Chelsea Building Society will need to retain a solicitor on their panel. This will result in additional overall conveyancing charges as well as cause frustration.
- Find an alternative lawyer to to deal with the purchase, not forgetting to check they are Chelsea Building Society approved.
- Persuade your Chelsea Building Society solicitor to try to join the Chelsea Building Society panel
is it true that all Kirkheaton conveyancing solicitors on the Leeds Building Society conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Leeds Building Society conveyancing panel they would need to be governed by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel and in such a situation the organisation would be regulated by the Council of Licensed Conveyancers.
We have agreed to purchase a house in Kirkheaton. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Lloyds be concerned?
Given that your lender is Lloyds your lawyer must check the formal instructions contained in Section 2 of UK Finance Lenders’ Handbook for Lloyds. The Council of Mortgage Lenders’ Handbook includes minimum requirements for solar panel roof-space leases, and solicitors are required to report to Lloyds where a lease fails to satisfy these conditions. The requirements relate to the installation of panels on properties nationwide and is not restricted to Kirkheaton.
I have today made my last payment due on my mortgage with Bank of Ireland. I assume I don't need a Kirkheaton conveyancer on the Bank of Ireland panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Bank of Ireland mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Bank of Ireland mortgage from the register. Bank of Ireland, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Bank of Ireland has sent the Land Registry the discharge electronically, and
- Bank of Ireland has instructed the Land Registry to do so
Will our conveyancer be asking questions concerning flooding during the conveyancing in Kirkheaton.
The risk of flooding is if increasing concern for solicitors dealing with homes in Kirkheaton. There are those who buy a property in Kirkheaton, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to give advice on flood risk, but there are a numerous searches that may be undertaken by the purchaser or by their conveyancers which can figure out the risks in Kirkheaton. The conventional set of information supplied to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the vendor to determine whether the premises has ever been flooded. In the event that flooding has previously occurred which is not notified by the vendor, then a buyer could issue a legal claim for losses as a result of such an inaccurate response. A purchaser’s lawyers may also conduct an environmental search. This should reveal whether there is any known flood risk. If so, more detailed investigations will need to be initiated.
We have chosen a Kirkheaton conveyancing solicitor for our house purchase (novice purchasers) and have spotted in the Ts and Cs that they are not overseen by the FCA. Need I be concerned or is that the norm with conveyancing practitioner?
We can't see why they should be. Most property lawyer don't lend money. They will be regulated by the SRA, who set stringent obligations in relation to amounts held on client account.