All was ready to complete my purchase in Leicestershire next Monday. 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 does the insurance need 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 UK Finance Lenders’ Handbook requirements. These obligations are not specific to conveyancing in Leicestershire.
We wanted to use a conveyancing solicitor in Leicestershire for our house purchase. Our financial adviser informed us that our mortgage company Coventry Building Society won't deal with them. Surely this is unfair competition?
A lender will insist on an approved solicitor act for it. You would be expected to bear the cost of this. Please make use of our search facility to locate a solicitor to conduct conveyancing in Leicestershire on the Coventry Building Society approved list of solicitors.
I require expedited conveyancing in Leicestershire as I am faced with an ultimatum to exchange contracts in less than one month. A mortgage is not required. Can I avoid the conveyancing searches to save fees and time?
As you are not getting a home loan you are at free not to do searches although no solicitor would suggest that you don't. With plenty of history conveyancing in Leicestershire the following are instances of what can be revealed and adversely impact future saleability: Enforcement Notices, Outstanding Fees, Outstanding Grants, Road Schemes,...
4 months have elapsed following my purchase conveyancing in Leicestershire took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Am I right to be concerned that brokers that I am dealing with are recommending a factory type conveyancing firm rather than a local Leicestershire conveyancing company?
As is the case with many professional services, often suggestions from relatives can be worth their weight in gold. But there are numerous players in a conveyancing matter; estate agents, mortgage brokers and lenders might all recommend conveyancers to use. On occasion these lawyers might be known to one of the organisations as being good in their field, but occasionally there exists a commercial relationship behind the recommendation. You are at liberty to appoint your preferred conveyancer. You need to be aware that the majority of banks specify a panel list of solicitors you have to use for the lender aspect of your home move.
We expect to complete the sale of our £325,000 flat in Leicestershire on Tuesday in a week. The freeholder has quoted £348 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Leicestershire?
Leicestershire conveyancing on leasehold maisonettes usually necessitates the buyer’s lawyer submitting questions for the landlord to answer. Although the landlord is not legally bound to answer these enquiries most will be content to assist. They may charge a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some situations it exceeds £800. The management information fee invoiced by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration fees, otherwise the charge is technically not due. Reality however dictates that one has no option but to pay whatever is demanded should you wish to complete the sale of your home.
I invested in buying a ground floor flat in Leicestershire, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Leicestershire with a long lease are worth £265,000. The ground rent is £50 charged once a year. The lease ends on 21st October 2100
With just 75 years remaining on your lease we estimate the premium for your lease extension to range between £8,600 and £9,800 as well as costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.