All was ready to move into my new home in Aldwych 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 lender. What does the insurance need 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 conditions. These obligations are not unique to conveyancing in Aldwych.
Do lenders provide you with an approved list of Aldwych conveyancing solicitors? How do you know who is on the Virgin Money conveyancing panel?
Aldwych conveyancing firms themselves provide us confirmation that they are on the Virgin Money conveyancing panel as opposed to being supplied with a list from Virgin Money directly.
Do I need to pay for insurance to protect me from financial exposure to chancel repairs when purchasing a house in Aldwych?
Unless a previous purchase of the house completed post 12 October 2013 you may take it that lawyers handling conveyancing in Aldwych to remain recommending a chancel search and or chancel repair liability policy.
How does conveyancing in Aldwych differ for newly converted properties?
Most buyers of new build premises in Aldwych contact us having been asked by the seller to sign contracts and commit to the purchase even before the house is constructed. This is because builders in Aldwych 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 used to new build conveyancing in Aldwych or who has acted in the same development.
What does commercial conveyancing in Aldwych cover?
Non domestic conveyancing in Aldwych covers a broad array of guidance, supplied by qualified solicitors, relating to business premises. For instance, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
As co-executor for the estate of my grandmother I am selling a house in Neath but reside in Aldwych. My solicitor (who is 260 kilometers from merequires that I sign a stat dec before completion. Could you suggest a conveyancing solicitor in Aldwych who can attest this legal document for me?
Technically speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Normally any notary public or qualified solicitor will be fine regardless of whether they are Aldwych based