I am hoping to complete my purchase in Roehampton next Monday. My conveyancing practitioner now wants me to supply her with evidence of content and building insurance for the property as as she informs me that she is duty bound to validate that it is in order for the bank. What does the insurance need 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 obligations are not limited to conveyancing in Roehampton.
Can your site be used to locate a Conveyancing solicitor in Roehampton even if I’m not buying or disposing of a house, for instance where I want to buy an office in Roehampton with a loan from Lloyds TSB Bank?
Our search tool is primarily utilised to locate residential conveyancing solicitors in Roehampton but we have set out at the bottom of this page a few Roehampton commercial conveyancing firms. You should speak with the firm directly to see if they are also authorised to represent Lloyds TSB Bank
We are expecting a mortgage offer soon. The bank mentioned the mortgage came with free conveyancing. Does this mean I have to instruct their panel conveyancer as I would much rather instruct a specialised conveyancing solicitor in Roehampton?
You should check but the chances are that appoint one of their panel solicitors if you accept the "fee-free" incentive. Contact the lender to ask if they offer you a monetary alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case that money can go towards your preferred conveyancing solicitor in Roehampton.
I'm buying a new build house in Roehampton with a loan from Aldermore. The developers refused to budge the amount so I negotiated 6k of additionals instead. The estate agent suggested that I not reveal to my conveyancer about the extras as it would adversely affect my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Yesterday I discovered that there is a flying freehold element on a house I have offered on last month in what was supposed to be a straight forward, no chain conveyancing. Roehampton is where the house is located. Is there any guidance you can impart?
Flying freeholds in Roehampton are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Roehampton you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Roehampton 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 residence.
I am looking for a conveyancing practitioner in Roehampton for my purchase. Can I see a firm’s record with the legal regulator?
Members of the public may find presented Solicitor Regulator Association (SRA) decisions stemming from investigations commenced on or after Jan 2008. Visit Check a solicitor's record. For information Pre 2008, or to check a firm's history, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, use +44 (0)121 329 6800. The SRA could monitor call for training requirements.