I am hoping to move into my new home in Ongar next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the lender. What risks does the bank expect the insurance to cover?
Any lawyer 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 Part 2 conditions. These requirements are not limited to conveyancing in Ongar.
Should lawyers request money up-front for conveyancing in Ongar?
If you are buying a property in Ongar your lawyer will ask you put them with monies to cover the search fees. This will be the total of the cost of the conveyancing searches. When the deposit is payable against the purchase price then this should be asked for shortly prior to contracts are exchanged. The final balance that is due will be payable shortly before completion.
My wife and I purchasing a terrace house in Ongar. We would like to convert the garage to an office at the property.Will legal conveyancing on the property include checks to ascertain if these alterations are prohibited?
Your solicitor will review the registered title as conveyancing in Ongar can occasionally reveal restrictions in the title documents which prevent certain alterations or necessitated the consent of a 3rd party. Many additions need local authority planning permissions and approval under the building regulations. Many areas are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. It would be sensible to check these issues with a surveyor ahead of any purchase.
My lawyer has informed me that absentee landlord insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Ongar?
The appropriate level of absentee landlord indemnity insurance depends on your lender. It would differ for example between Yorkshire Building Society and The Mortgage Works. Conveyancing practitioners as opposed to members of the public take out such policies.
Planning on purchasing a house in Ongar. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Clydesdale conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Ongar lawyer is on the Clydesdale conveyancing panel.
Have purchased a a terraced house in Ongar , What is the estimated time for the Land Registry to deal with the formalities evidencing my proprietorship? My Ongar conveyancing solicitor works at snail pace, so I want to be sure that my ownership is recorded.
As far as conveyancing in Ongar is concerned, registration is no faster or slower than anywhere else in England and Wales. As opposed to being determined by geographic area, timescales can adjust subject to the party submitting the application, whether it is in order and whether the Land registry must send notices to any interested persons or bodies. Currently in the region of three quarters of submission are fully dealt with in less than three weeks but occasionally there can be longer delays. Registration occurs after the new owner has moved in to the property thus registration formalities is not always primary concern yet if it is urgent that the the registration takes place urgently then you or your lawyers can contact the land registry and explain the circumstances.
I decided to have a survey carried out on a property in Ongar in advance of instructing conveyancers. I have been informed that there is a flying freehold overhang to the house. Our surveyor advised that some banks may refuse to give a mortgage on a flying freehold property.
It varies from the lender to lender. Lloyds has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Ongar. Conveyancing will be smoother if you use a solicitor in Ongar especially if they are acquainted with such properties in Ongar.
In what way can the Landlord & Tenant Act 1954 affect my business offices in Ongar and how can your lawyers assist?
The 1954 Act provides security of tenure to commercial lessees, giving them the right to apply to court for a renewal tenancy and continue in occupation when the lease comes to an end. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing practices who use the act to your advantage and help with commercial conveyancing in Ongar