I am hoping to complete my purchase in Raglan next Thursday. My property lawyer 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 bank. What risks does the bank expect the insurance 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 UK Finance Lenders’ Handbook requirements. These obligations are not limited to conveyancing in Raglan.
I note that there are debates on Chancel Insurance on online forums. Do I require chancel insurance when acquiring a property in Raglan? or Apparently there is a law dating back centuries that means some owners of property residing in a parish church boundary may be liable to pay for maintenance to the chancel within the church. Is this appropriate for conveyancing in Raglan?
Unless a prior purchase of the property took place post 12 October 2013 you can expect solicitors conducting conveyancing in Raglan to remain encouraging a chancel search and or insurance against a claim.
I have todaybecome aware that Stirling Law have been shut down. They conducted my conveyancing in Raglan for a purchase of a leasehold flat 10 months ago. How can I establish that my home is not still registered in the name of the previous owner?
The quickest method to check if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Raglan conveyancing specialists.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a straight forward, chain free conveyancing. Raglan is where the house is located. Is there any advice you can give?
Flying freeholds in Raglan are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Raglan you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Raglan may decide 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 premises.
My brother has suggested that I appoint his conveyancers in Raglan. Should I find my own solicitor?
No doubt the best way to choose a conveyancing solicitor is to have guidance from friends or relatives who have previously instructed the solicitor you're contemplating using.
My husband and I are acquiring a 2 bedroom flat in Raglan. When we first instructed conveyancing practitioner, they said that they were on all major UK lender panels. The financial adviser emailed today to say that they don't appear to be on the Coventry BS approved list. Were it to be true, what should we do? Do we simply pick a new conveyancer that is on their panel or do we pay for separate representation, with Coventry BS selecting their own preferred conveyancer.
When acquiring a property with mortgage finance it is usual for the buyer’s lawyers to also represent the purchaser's lender. In order to act for a bank or building society a conveyancer has to be on that lender's conveyancing panel. An application has to be made by the property lawyer to the lender to become a member of the lender's panel and there are increasingly strict criteria which the solicitor has to meet. Some lenders now insist their panel firms to be part of the Law Society’s Conveyancing Quality Scheme. Your lawyer should contact Coventry BS and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on Coventry BS's conveyancing panel as you are at liberty to use your preferred Raglan lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.