All was ready to complete my purchase in Sandringham next Tuesday. 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 bank. What risks does the bank expect the insurance to cover?
All property lawyers 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 instructions. These requirements are not unique to conveyancing in Sandringham.
Having sold my house in Sandringham last May but my buyer keeps SMS messaging me to moan that his conveyancer is waiting to hear from myconveyancer. What are the post completion sale legalities following completion?
Following your disposal your solicitor should deliver the transfer documentation and all of the paperwork to the buyer’s conveyancer. Depending on the transaction, your lawyer should also evidence that the legal charge in favour of the lender has been redeemed to the purchasers solicitors. There are no post completion procedures peculiar conveyancing in Sandringham.
We are aiming to move property in August. Will my conveyancing solicitor update the removal company on the completion day. Incidentally, can you recommend a removal company in Sandringham. Conveyancing firm was organised prior to coming across your site.
On the afternoon of completion you will need to collect the keys from your estate agent but this can only happen after the sellers solicitors confirm to the agent that they have the completion monies and the keys can be released. You can tell the removal company that they can start moving you in. As a matter of policy we do not suggest a specific removal company but can help you choose a residential property solicitor in Sandringham or a legal practice that specialises in conveyancing in Sandringham.
I'm in the process of viewing flats in Sandringham and I am about to put in an offer. Is it wise to have my lawyer on ‘stand by’? I will be getting a home loan with Coventry BS.
It would be prudent to commence your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the estate agent. As you are seeking a mortgage with Coventry BS, ask your prospective lawyers if they are on the Coventry BS conveyancing panel otherwise they can't do the mortgage legal work.
I have paid off my mortgage with Aldermore. I assume I don't need a Sandringham lawyer on the Aldermore panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Aldermore mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Aldermore mortgage from the register. Aldermore, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Aldermore has sent the Land Registry the discharge electronically, and
- Aldermore has instructed the Land Registry to do so
It has been 2 months following my purchase conveyancing in Sandringham completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £215,000. 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 premises 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'm purchasing a new build house in Sandringham with a loan from Norwich and Peterborough Building Society. The builders refused to budge the amount so I negotiated 6k of extras instead. The property agent suggested that I not to tell my lawyer about the side-deal as it would jeopardize my loan with Norwich and Peterborough Building Society. 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.
My husband and I are novice buyers - agreed a price, yet the estate agent advised that the owners will only go ahead if we appoint the agent's recommended conveyancers as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a high street solicitor used to conveyancing in Sandringham
We suspect that the owner is not behind this demand. If they desire ‘a quick sale', alienating a genuine purchaser is likely to cause more damage than good. Bypass the agents and go straight to the sellers and make the point that (a)you are keen to buy (b)you are ready to go, with finances arranged © you do not need to sell (d) you wish to move quickly (e)but you are going to use your own,trusted Sandringham conveyancing lawyers - rather thanthose that will earn their estate agent a commission or achieve conveyancing figures demanded by senior management.