All was ready to complete my purchase in Bankside 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 mortgage company. What risks does the bank expect the insurance to cover?
All property lawyers on acting for banks 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 requirements are not unique to conveyancing in Bankside.
Completed the sale of my flat in Bankside last April yet the purchaser is telephoning every few hours to say her conveyancer needs to hear from mine. What should my lawyer have done now that I have sold?
Following your house sale your lawyer should send the transfer documentation and all additional paperwork to the purchaser's solicitors. Where appropriate, your solicitor must also evidence that the legal charge in favour of the lender has been redeemed to the purchasers lawyers. There are no post completion formalities just for conveyancing in Bankside.
When it comes to mortgage companies such as RBS, do Bankside solicitors face a fee to be on the conveyancing panel?
We are not aware of any lender fees to register on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
We are getting the release of further funds on our home loan from Nationwide as we wish to carry out renovations to our property in Bankside. Do we need to choose a high street Bankside solicitor on the Nationwide conveyancing panel to deal with the legals?
Nationwide don't usually appoint a member of their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Nationwide panel.
We expect to receive a OIP from Coventry BS this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Coventry BS recommend any Bankside solicitors on the Coventry BS conveyancing panel, or is it better to go independently?
You will need to appoint Bankside solicitors independently although you'll need to choose one on the Coventry BS conveyancing panel. The solicitor represents both you and Coventry BS through the process.
My wife and I have a renovated Georgian property in Bankside. Conveyancing lawyer acted for me and Yorkshire Building Society. I did a free Land Registry search last week and there are two entries: the first freehold, another for leasehold under the matching address. If a house is not a freehold shouldn't I have been informed?
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bankside and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with your conveyancing lawyer who completed the work.
In my capacity as executor for the estate of my grandmother I am selling a property in Newport but reside in Bankside. My solicitor (based 250 kilometers awayrequires that I execute a stat dec prior to completion. Could you suggest a conveyancing practitioner in Bankside who can witness and place their company stamp on the document?
Technically speaking you should not need to have the documents attested by a conveyancing solicitor. Normally or notary public or solicitor will be fine regardless of whether they are located in Bankside
Some months ago I was told by my mortgage company that their approved conveyancers operate no sale no fee basis for conveyancing in Bankside. I had a purchase fall through and now the solicitors have requested search fees! They say the fees are seperate!
By offering "no sale no fee" Bankside conveyancing lawyers are waiving their charges for any work conducted. We must stress this is NOT an insurance scheme. Disbursements aren’t covered – where the property lawyer have to pay money out to third parties, for example Bankside local search fees