Due to complete my purchase in New Inn 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 does the insurance need to cover?
Any lawyer on acting for mortgage companies 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 requirements. These requirements are not unique to conveyancing in New Inn.
At what point can the exchange of contracts take place for residential conveyancing in New Inn and am I required to be at the lawyers branch?
Where you are in close proximity to our conveyancing solicitors in New Inn you are invited in to sign contracts. That being said, the firms we recommend offer a national conveyancing service and give as equally diligent and professional a job for you when dealing with you by post or email. The executing of the contract is not the important part. A signed contract is just a prerequisite for the solicitor to exchange contracts at the suitable time, which is ordinarily shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in New Inn)to be in the office available at the end of the phone to exchange contracts.
Will my conveyancing lawyers need to check that the building insurance when buying a house in New Inn. My lender is Accord Mortgages
Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 20/7/2025, the requirements read as follows :
Due to the input of my in-laws I had a survey completed on a property in New Inn in advance of instructing solicitors. I have been informed that there is a flying freehold element to the property. My surveyor advised that some mortgage companies may not issue a loan on a flying freehold premises.
It depends who your proposed lender is. Santander has different instructions from Nationwide. If you contact us we can check via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in New Inn. Conveyancing will be smoother if you use a solicitor in New Inn especially if they regularly deal with such properties in New Inn.
I need to instruct a conveyancing solicitor for freehold conveyancing in New Inn. I have chance upon a site which seems to have the ideal answer If there is a chance to get all this stuff done via web that would be preferable. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Me and my partner are purchasing a 2 room ground floor flatin New Inn with a mortgage from a bank. We like our lawyer in New Inn however our mortgage company says she’s not on their "panel". It seems we have little choice but to instruct from the our mortgage company panel firms or keep our New Inn solicitor and pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. The mortgage company mortgage issued is subject to its terms and conditions, one of which will be that lawyers will on the bank's conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels, including most conveyancing solicitors in New Inn : a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for your bank.