Due to complete my purchase in Redland next Friday. My solicitor 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 mortgage company. What does the insurance need to cover?
All property lawyers 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 requirements are not limited to conveyancing in Redland.
Can you clarify what the consequences are if my solicitor is expelled from the Lloyds Solicitor panel ahead of completing my conveyancing in Redland?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I have todayfound out that Stirling Law have closed. They conducted my conveyancing in Redland for a purchase of a leasehold apartment 12 months ago. How can I be sure that the property is in my name in the name of the previous owner?
The quickest way to see 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 Redland conveyancing specialists.
Due to the encouragement of my in-laws I had a survey completed on a property in Redland ahead of instructing lawyers. I have been advised that there is a flying freehold overhang to the house. My surveyor has said that some banks will not give a loan on a flying freehold premises.
It varies from the lender to lender. HSBC has different instructions from Halifax. If you e-mail us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Redland. Conveyancing may be slightly more expensive based on your lender's requirements.
I have been sourcing a conveyancing practitioner in Redland for my home move. Is it possible to see a firm’s record with the legal regulator?
You may review documented Solicitor Regulator Association (SRA) decisions resulting from inquisitions from 2008 onwards. Go to Check a solicitor's record. To find records about the period before 1 January 2008, or to check a solicitors record, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, dial +44 (0)121 329 6800. The regulator sometimes monitor telephone calls for training requirements.
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable figure which is making it all the more appealing. I have just been informed that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Redland. Conveyancing lawyers have not yet been appointed. Will they explain the issues?
The majority of houses in Redland are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Redland in which case you should be shopping around for a Redland conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’spermission to carry out changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your solicitor will advise you fully on all the issues.
Redland Conveyancing for Leasehold Flats - Examples of Queries Prior to buying
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It would be sensible to discover as much as you can about the company managing the building as they will impact your use and enjoyment of the property. Being a leasehold owner you are frequently at the mercy of the managing agents both financially and when it comes to practical matters like the upkeep of the common parts. Ask other tenants whether they are happy with their management. In conclusion, investigate as to the dates that you are obliged pay the maintenance charge to the appropriate party and precisely what you get for your money. Is the freehold owned jointly by the tenants? For most Redland leaseholds the cost for major works tend not to be wrapped into the maintenance charges, although a few managing agents in Redland ask leaseholders to contribute towards a sinking fund and this is used to offset against larger works.