I am hoping to complete my purchase in Thetford 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 mortgage company. 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 requirements. These obligations are not specific to conveyancing in Thetford.
Can you point me to a directory of Coventry BS panel conveyancers in Thetford on the Building Society Association’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. A small selection of banks make their panel listings visible on the web. If you are looking for a Thetford conveyancer on the Coventry BS please use our facility.
We are getting the release of further funds on our home loan from HSBC as we want to carry out alterations to our home in Thetford. Do we need to appoint a bricks and mortar Thetford solicitor on the HSBC conveyancing panel to handle the paperwork?
HSBC would not normally appoint a member of their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the HSBC list.
I have decided to exercise my right to buy my property in Thetford off the council. I have a mortgage agreed with RBS. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with RBS, you will need to appoint a solicitor on the RBS conveyancing panel.
I used Wolstenholmes a few years ago for my conveyancing in Thetford. I now require my file but the law firm is no longer operating. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Thetford of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Thetford differ for newly converted properties?
Most buyers of new build premises in Thetford come to us having been asked by the builder to exchange contracts and commit to the purchase even before the property is completed. This is because new home sellers in Thetford usually acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Thetford or who has acted in the same development.
What advice can you give us when it comes to finding a Thetford conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a conveyancer for lease extension works (regardless if they are a Thetford conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Thetford conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions might be helpful:
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What volume of lease extensions have they completed in Thetford in the last 12 months? Can they put you in touch with clients in Thetford who can give a testimonial?
Thetford Leasehold Conveyancing - A selection of Questions you should consider Prior to Purchasing
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This information is useful as a) areas could cause problems for the block as the common areas may begin to deteriorate where services are not paid for b) if the leasehold owners have an issue with the managing agents you will need to have all the details Who is in charge of the building? Best to be warned if redecorating or some other significant cost is anticipated that will be shared amongst the leasehold owners and could well dramatically impact the level of the service costs or necessitate a one time invoice.
Me and my wife are selling a Thetford bungalow we inherited ten years ago in 2012. I have over 12 years conveyancing know-how and, now retired, intend to undertake the legal work. The purchaser's lawyer has informed me that their bank will not allow us to do our own conveyancing mandating that the funds to be released via a solicitor's bank account.
Mortgage requirements to property lawyers from all CML members specify that If the seller is not legally represented the purchaser’s lawyers should check whether the mortgage company needs to be informed so that a decision can be reached as to whether or not they are prepared to progress.