Due to complete my purchase in Soham next Thursday. My property lawyer 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?
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 specific to conveyancing in Soham.
I am looking to buy a property and require a conveyancing solicitor in Soham who is on the National Westminster Bank approved. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for National Westminster Bank in certain locations such as Soham. We dont recommend any particular firm.
I am purchasing a house and the solicitor has referenced Chancel Repair for which the property could be liable given it’s proximity to the area of such a church. She has recommended insurance. Is this strictly appropriate for conveyancing in Soham
Unless a prior acquisition of the property completed post 12 October 2013 you can assume that conveyancing practitioners carrying out conveyancing in Soham to remain recommending a chancel search and or chancel repair liability insurance.
I have recentlyfound out that Wolstenholmes have closed. They carried out my conveyancing in Soham for a purchase of a leasehold apartment 9 months ago. How can I be sure that the property is in my name in the name of the former proprietor?
The easiest way 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 Soham conveyancing specialists.
I'm buying my first flat in Soham with the aid of help to buy. The builders would not move on the price so I negotiated £7000 of extras instead. The estate agent suggested that I not reveal to my lawyer about this side-deal as it would adversely affect my mortgage with Britannia. Should I keep quiet?.
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.
I was advised by numerous estate agents in Soham to locate a solicitor on your site. Is there a financial incentive for Estate Agents to promote your services rather than a competitor’s?
We don’t offer any financial incentive for directing people in our direction. We found it would be just too difficult to pay a commission as a client could think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.