I am being told by my conveyancer that absentee landlord insurance is necessary on my purchase. What is the level of cover for Potters Bar conveyancing?
The appropriate level of absentee landlord indemnity insurance depends on your lender. It would differ for example between Birmingham Midshires and Chelsea Building Society. Conveyancing lawyers as opposed to borrowers take out such policies.
I am due to exchange contracts on my flat. I had a double glazing fitted in August 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Nationwide are being difficult. The Potters Bar solicitor who is on the Nationwide conveyancing panel is saying indemnity insurance will be fine but Nationwide are requiring a building regulation certificate. Why do Nationwide have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nationwide have referred the matter to their valuer. The reason why Nationwide may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I have instructed a Potters Bar solicitor having checked that they are on the Coventry BS conveyancing panel. Does my lawyer arrange the survey of the property?
Coventry BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Coventry BS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Potters Bar surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Will our lawyer be asking questions concerning flooding as part of the conveyancing in Potters Bar.
Flooding is a growing risk for lawyers dealing with homes in Potters Bar. Plenty of people will acquire a property in Potters Bar, fully aware that at some time, it may be flooded. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Lawyers are not qualified to give advice on flood risk, however there are a various searches that may be undertaken by the buyer or by their solicitors which will give them a better appreciation of the risks in Potters Bar. The standard information sent to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual inquiry of the owner to discover if the property has suffered from flooding. In the event that flooding has previously occurred and is not notified by the owner, then a buyer may bring a claim for damages resulting from an incorrect answer. The buyer’s conveyancers will also carry out an enviro search. This should higlight if there is any known flood risk. If so, additional investigations should be carried out.
The deeds to my house can not be found. The solicitors who dealt with the conveyancing in Potters Bar 5 years ago no longer exist. What are my next steps?
These day there are copies made of almost everything, and your solicitor will be aware exactly where to locate all the suitable documentation so you can buy or sell your house without any difficulty. Where copies can’t be located, your conveyancer can arrange cover in the form of insurance or indemnities against possible claims on your property.
I've recently found out that there is a flying freehold element on a property I put an offer in last month in what should have been a straight forward, chain free conveyancing. Potters Bar is where the house is located. Is there any advice you can give?
Flying freeholds in Potters Bar are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Potters Bar you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Potters Bar may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I was recommended by numerous property agents in Potters Bar to find a conveyancer using your seach tool. Is there a financial inducement for Estate Agents to offer your lawyers ahead of another?
We don’t make any commission for directing people to this site. We thought it would be too underhand a fee because home movers will think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
As co-executor for the estate of my aunt I am selling a residence in Cardiff but live in Potters Bar. My solicitor (approximately 250 miles awayhas requested that I sign a statutory declaration prior to the transaction finalising. Can you recommend a conveyancing practitioner in Potters Bar to witness and place their company stamp on the document?
Technically speaking you are not likely to need to have the documents witnessed by a conveyancing solicitor. Normally or notary public or solicitor will do regardless of whether they are Potters Bar based