I have just been advised by my mortgage broker that my Sonning Common the law firm I have appointed is not on the lender Solicitor panel. What can I do to be certain if this is indeed the case?
The first thing you need to do is to call your Sonning Common conveyancer. It is reasonable to expect your lawyer to inform you of the situation. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your bank.
All was ready to complete my purchase in Sonning Common next Thursday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the lender. What risks does the lender expect the insurance to cover?
Any lawyer 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 UK Finance Lenders’ Handbook conditions. These obligations are not limited to conveyancing in Sonning Common.
Completed the sale of my flat in Sonning Common last April yet the purchaser is Skype messaging every few hours to say her lawyer is waiting to hear from mine. What should have happened following completion?
Following your sale your lawyer is committed to send the transfer deeds and all supplemental paperwork to the buyer’s lawyers. Depending on the transaction, your lawyer must also evidence that the mortgage has been paid off to the buyers conveyancers. There are no post completion procedures unique to conveyancing in Sonning Common.
I have 70 years unexpired on my lease and require a lease extension for my flat in Sonning Common. Conveyancing solicitors on the Tesco Bank panel can deal with such extensions right?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 10/4/2024 the requirements read as follows :
Should our solicitor be raising questions regarding flooding as part of the conveyancing in Sonning Common.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Sonning Common. There are those who buy a property in Sonning Common, completely aware that at some time, it may be flooded. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or dispose of the property. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.
Solicitors are not best placed to impart advice on flood risk, however there are a number of searches that may be undertaken by the purchaser or by their lawyers which can give them a better appreciation of the risks in Sonning Common. The conventional set of completed inquiry forms supplied to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) contains a standard question of the vendor to determine whether the property has ever been flooded. In the event that the residence has been flooded in past which is not disclosed by the owner, then a buyer could commence a compensation claim resulting from an misleading answer. The purchaser’s solicitors may also carry out an environmental report. This should disclose whether there is any known flood risk. If so, additional investigations will need to be initiated.
I am 14 days into a leasehold purchase having been referred to conveyancers by the selling agent to handle our conveyancing in Sonning Common. We are not happy. Could you help me find new solicitors?
They would have to be really poor to suggest diss instructing them. Has your loan offer been issued? If so you must inform them of the replacement solicitor and have the loan are re-issued. Your new conveyancer should be on the mortgage company panel to avoid added expenses and frustration. That should be your starting point. Our search tool will assist you in finding a lender approved conveyancer for your home move in Sonning Common