All was ready to move into my new home in Resolven next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the lender. What risks does the lender expect the insurance to cover?
All property lawyers 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 instructions. These obligations are not unique to conveyancing in Resolven.
I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Resolven. My lender is Bank of Ireland
Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 20/3/2026, the requirements read as follows :
My wife and I are purchasing a property in Resolven. I might seem paranoid but how we can trust a lawyer? On completion day we will need to put funds into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Forgive me if this question is silly but I am unexperienced as a first time purchaser of a garden flat in Resolven. Do I collect the keys to the property on completion from my solicitor? If so, I will instruct a High Street conveyancing solicitor in Resolven?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will arrange to send the purchase money to the vendor’s lawyers, and shortly after the monies have arrived, you will be invited to receive the keys from the selling Agents and move into your new home. Usually this happens early afternoon.
We had chosen solicitors based in Resolven on the Yorkshire BS solicitor approved list. They have just invoiced me a supplemental fee for dealing with the Yorkshire BS mortgage. Is this a supplemental conveyancing fee set by Yorkshire BS?
As unfair as it may appear, as long as it’s in their Terms and Conditions or estimate then yes your solicitor may charge a fee for this. This fee is not set by Yorkshire BS but by your Resolven conveyancer. Some firms on the Yorkshire BS panel will levy an ‘acting for lender’ fee but many firms incorporate it on their overall fee.
3 months have elapsed since my purchase conveyancing in Resolven completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am purchasing my first flat in Resolven with a loan from Virgin Money. The developers refused to reduce the amount so I negotiated 6k of extras instead. The property agent advised me not to tell my lawyer about the extras as it could put at risk my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
To what extent are Resolven conveyancing solicitors duty bound by the Law Society to supply clear conveyancing figures?
Inbuilt into the Solicitors Code of Conduct are prescriptive rules and regulations as to how the Solicitors Regulation Authority (SRA) allow solicitors to publicise their fees to clients.The Law Society have a practice note giving advice on how to publicise transparent charges to avoid breaching any such rule. Practice notes are not legal advice issued by the Law Society and is not intended as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, however, represent the Law Society’s perspective of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Resolven or across England and Wales.