I am hoping to complete my purchase in Baldock next Tuesday. My property lawyer now wants me to supply her with proof 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 lender. 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 UK Finance Lenders’ Handbook instructions. These requirements are not limited to conveyancing in Baldock.
Forgive me if this question is silly but I am unexperienced as a 1st time purchaser of a garden flat in Baldock. Do I pick up the keys to the property on completion from my lawyer? If this is the case, I will instruct a High Street conveyancing solicitor in Baldock?
On the day of completion you do not need to attend the conveyancers office in Baldock. Your solicitors will transfer the purchase money to the seller's lawyers, and once they have received this, you should be invited to pick up the keys from the property Agents and move into your new home. This tends to happen between 1 and 3pm.
We expect to receive a OIP from Nottingham this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Nottingham recommend any Baldock solicitors on the Nottingham conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Baldock solicitors independently although you'll need to choose one on the Nottingham conveyancing panel. The solicitor represents both you and Nottingham through the process.
After shopping around on the internet I have found a Baldock lawyer having checked that they are on the Virgin Money conveyancing panel. Does my lawyer arrange the survey of the property?
Virgin Money will need an independent valuation of the property. Your lawyer will not arrange this. Usually Virgin Money will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Baldock postcode. As you are getting a mortgage with Virgin Money, you could contact them to see if they have a list of approved surveyors in Baldock.
What does a local search tell me concerning the house I am buying in Baldock?
Baldock conveyancing often commences with the ordering local authority searches directly from your local Authority or via a personal search organisations such as Searchflow The local search is essential in every Baldock conveyancing purchase; as long as you wish to avoid any nasty once you have moved into your property. The search will supply information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject headings.
I have been on the look out for a flat up to £305k and identified one round the corner in Baldock I like with a park and railway links nearby, the downside is that it's only got 51 years unexpired on the lease. There is not much else in Baldock suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a home loan the remaining unexpired lease term may be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.
Is it possible to switch conveyancer as I have to instruct one who is on the Santander conveyancing panel. I instructed a local conveyancing solicitor in Baldock round the corner but he is not approved by Santander
It would be our pleasure to help you select a conveyancing solicitor in Baldock on the Santander panel. Please note that the solicitors that we work with do not pay us commission if you instruct them and are under regulation of the SRA who regulate all conveyancing solicitors in Baldock. In utilising the find a conveyancing solicitor tool on this website, you can compare and instruct different solicitors and conveyancers both nationally and in Baldock.
In searching the web for the phrase conveyancing in Baldock it shows results of numerous conveyancersin the area. How do I determine which is the suitable conveyancing solicitor for my move?
The best way of finding a suitable conveyancer is via personal referral, so enquire of friends and those you trust who have purchased a property in Baldock or a reputable estate agent or mortgage broker. Fees for conveyancing in Baldock vary, so it's sensible to secure a minimum of three estimates from different conveyancers. Be sure to seek confirmation that the fees are fixed.