Due to complete my purchase in Barry 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 risks does the lender 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 Part 2 conditions. These requirements are not specific to conveyancing in Barry.
Can your site be used to locate a Conveyancing solicitor in Barry even if I’m not purchasing or selling a house, for instance if I intend to acquire an office in Barry with a loan from Leeds Building Society?
Our comparison service is primarily used to locate residential conveyancing solicitors in Barry but we have recorded towards the end of this page a selection of Barry commercial conveyancing firms. You will need to enquire with the company directly to see if they are also authorised to represent Leeds Building Society
We wanted to use a conveyancing solicitor in Barry for our house move. Our broker has since advised us that our bank Leeds Building Society won't deal with them. Surely this is unfair competition?
A bank may insist on an approved solicitor act for it. You would be liable to bear the cost of this. Try using our database to locate a solicitor to carry conveyancing in Barry on the Leeds Building Society approved list of solicitors.
We have a mortgage agreed in principle with Nationwide. Barry conveyancing practitioners have been selected. What is the average time that one could expect to receive a mortgage offer from Nationwide?
Some lenders take longer than others. Have Nationwide conducted the survey? Have you informed Nationwide as to your lawyers' details and checked that your lawyers are on the Nationwide conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I have paid off my mortgage with UBS. I assume I don't need a Barry property lawyer on the UBS panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your UBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the UBS mortgage from the register. UBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where UBS has sent the Land Registry the discharge electronically, and
- UBS has instructed the Land Registry to do so
I am selling my house. I had a double glazing fitted in March 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Bank of Ireland are being problematic. The Barry solicitor who is on the Bank of Ireland conveyancing panel is recommending indemnity insurance as a solution but Bank of Ireland are requiring a building regulation certificate. Why do Bank of Ireland have a conveyancing panel if they don't accept advice from them?
It is probably the case that Bank of Ireland have referred the matter to their valuer. The reason why Bank of Ireland may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Will commercial conveyancing searches reveal planned roadworks that could impact a commercial site in Barry?
Many commercial conveyancing solicitors in Barry will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in investigating accurate data on highways that impact buildings and development assets in Barry. The search result provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Barry.
For every commercial conveyancing transaction in Barry it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately may result in delays to Barry commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not conducted for residential conveyancing in Barry.
What advice can you give us when it comes to choosing a Barry conveyancing firm to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a Barry conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Barry conveyancing practices prior to instructing a firm. Where the conveyancing practice 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 Barry in the last year? How familiar is the practice with lease extension legislation?
I purchased a basement flat in Barry, conveyancing having been completed 4 years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Barry with an extended lease are worth £195,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease ends on 21st October 2088
With only 63 years unexpired the likely cost is going to range between £16,200 and £18,600 plus costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.