Due to move into my new home in Belper next Thursday. My conveyancer now wants me to supply her with proof of content and building insurance for the property 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 requirements. These requirements are not specific to conveyancing in Belper.
It has been 4 months since my purchase conveyancing in Belper took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm purchasing my first flat in Belper benefiting from help to buy. The builders refused to move on the price so I negotiated £7000 of additionals instead. The house builders rep advised me not reveal to my lawyer about this deal as it may jeopardize my loan with Barclays Direct. Do I keep my lawyer in the dark?.
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.
I've recently found out that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a simple, chain free conveyancing. Belper is the location of the property. Can you shed any light on this issue?
Flying freeholds in Belper are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Belper you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Belper may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I was pointed in your direction by a number of estate agents in Belper to find a conveyancer using your seach tool. What’s the financial upside for Estate Agents to offer your site over and above alternative conveyancing organisations?
We don’t give any financial incentive for sending work to this site. We thought it would be too underhand to pay a commission as home movers will think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
In my capacity as executor for the estate of my grandfather I am disposing of a house in Newport but I am based in Belper. My solicitor (who is 200 miles from mehas requested that I sign a statutory declaration ahead of completion. Can you recommend a conveyancing solicitor in Belper to witness and place their company stamp on the document?
strictly speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will be fine regardless of whether they are Belper based