Due to move into my new home in West Hendon next Monday. 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 mortgage company 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 requirements. These obligations are not limited to conveyancing in West Hendon.
Are the BSA planning on creating a searchable register to to identify law firms on the Melton Mowbray Building Society conveyancing panel for example in West Hendon?
We are not aware of any intention on the part of the BSA to promote such a search facility.
I am being advised by my solicitor that restrictive coveneant insurance is required on my purchase. What is the typical level of cover needed for conveyancing in West Hendon?
The right level of restrictive coveneant indemnity insurance should be dictated by who your lender. It would differ for example between Nationwide Building Society and Virgin Money. Conveyancing practitioners as opposed to members of the public take out such policies.
is it true that all West Hendon conveyancing solicitors on the Nottingham conveyancing panel are regulated by the SRA?
As solicitors, in order to be on the Nottingham conveyancing panel they would need to be governed by the SRA. Some mortgage companies do allow licenced conveyancers on their panel and in such a situation the organisation would be overseen by the CLC.
Last month we had a mortgage agreed in principle with Lloyds. West Hendon conveyancing lawyers were instructed. How long does it take for Lloyds to forward the offer to the property lawyer?
There is no definitive answer here. Have Lloyds completed the valuation? Have you advised Lloyds as to your lawyers' details and checked that your lawyers are on the Lloyds conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I know that there are debates on Chancel Insurance on online forums. Do I require chancel insurance when acquiring a house in West Hendon? or Apparently there is a law dating back centuries that could mean that house owners residing in a parish church boundary may be liable to contribute towards maintenance to the chancel in proximity to the church. Is this appropriate for conveyancing in West Hendon?
Unless a prior acquisition of the house completed post 12 October 2013 you can assume that solicitors conducting conveyancing in West Hendon to remain encouraging a chancel search and or insurance against a claim.
I used Action Conveyancing several years ago for my conveyancing in West Hendon. I now require my file but cannot find the solicitor. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracing 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 West Hendon of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Over the last few months I have been searching for a flat up to £245,000 and identified one near me in West Hendon I like with open areas and railway links in the vicinity, the downside is that it only has 49 years on the lease. There is not much else in West Hendon in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a home loan the remaining unexpired lease term will be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of 2 years you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.