All was ready to complete my purchase in Batheaston next Friday. 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 Part 2 instructions. These requirements are not specific to conveyancing in Batheaston.
My aunt passed away six months ago and as sole heir and executor I was left the house in Batheaston. The house had a small mortgage remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to HSBC, pay off the mortgage. Is this possible?
Given you intend to re-mortgage then HSBC will insist on your using a conveyancer on the HSBC conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your HSBC conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the HSBC mortgage is registered as a charge at the Land Registry.
I am planning on selling our property in Batheaston and according to the buyers it appears that there is a risk of it being constructed on contaminated land. Any high street Batheaston lawyer would know this is not the case. It does beg the question why the purchasers are using a national conveyancing outfit as opposed to a conveyancing solicitor in Batheaston. We have lived in Batheaston for six years we know of no issue. Do we get in touch with our local Authority to obtain clarification that there is no issue.
It sounds as though you may have a conveyancing firm already. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
I'm purchasing a new build house in Batheaston with a mortgage from Barnsley Building Society. The developers refused to budge the amount so I negotiated 6k of additionals instead. The estate agent advised me not to tell my lawyer about this extras as it may put at risk my loan with Barnsley Building Society. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
As co-executor for the estate of my uncle I am disposing of a house in Monmouth but live in Batheaston. My lawyer (based 200 miles awayrequires that I execute a statutory declaration ahead of completion. Can you recommend a conveyancing practitioner in Batheaston to attest this legal document for me?
Technically speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Normally any notary public or solicitor will do regardless of whether they are located in Batheaston
I am buying a house with all finances in place. My lawyer has been supplied with with 2 distinct forms of photographic ID, bank statement, endless utility bills. Now he requires a copy from a probate lawyer advising that the funds are in place and that it has come from inheritance and not selling fake watches.
In today’s world you will not be able to complete any Batheaston conveyancing transaction without first providing evidence of your identity to your lawyers. This usually takes the form of a either your passport or driving licence and a utility bill. Remember if you are providing your driving licence as evidence of ID it must be both the paper part and photo card part, one is not acceptable without the other. Evidence of your source of funds is required under Money Laundering Regulations.