Due to complete my purchase in Berkhamsted next Friday. 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 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 requirements. These requirements are not specific to conveyancing in Berkhamsted.
I have an AIP. The bank mentioned the loan came with free conveyancing. Is the implication that I have to appoint their panel conveyancer as I would prefer to appoint a high street conveyancing solicitor in Berkhamsted?
Do check but the the probability is that appoint one of their panel conveyancers where you want the "fee-free" offer. Contact the mortgage company and explore if they allow a cash alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor in Berkhamsted.
I am aiming to move home in April. Will my conveyancing solicitor update the removal company on the day of completion. On a separate note, can you put forward a removal company in Berkhamsted. Conveyancing firm was organised before I stumbled across this website.
On the day of completion you can pick up the keys from your estate agent but this can only happen when the previous owners solicitors advise the agent that the monies to complete are in and the keys can be collected. After that you should advise the removal company that you are ready to move in. As a matter of policy we do not suggest a specific removal company but can assist you in finding a residential property solicitor in Berkhamsted or a firm that specialises in conveyancing in Berkhamsted.
Last month we had a mortgage agreed in principle with HSBC. Berkhamsted conveyancing lawyers are appointed. What is the average time that one could expect to receive a mortgage offer from HSBC?
There is no definitive answer here. Have HSBC conducted the survey? Have you informed HSBC as to your lawyers' details and checked that your lawyers are on the HSBC conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Planning on purchasing a flat in Berkhamsted. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nationwide conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Berkhamsted solicitor is on the Nationwide conveyancing panel.
My relative suggested that where I am buying in Berkhamsted I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually quoted for as part of the standard Berkhamsted conveyancing searches. It is a large report of more than thirty pages, listing and setting out significant information about Berkhamsted around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Berkhamsted Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful information concerning Berkhamsted.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Berkhamsted. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Berkhamsted
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please confirm the Lease plans are surveyor prepared. Please supply a car parking plan. There must be mutual enforceability of lessee’s covenants.
When it comes to my conveyancing in Berkhamsted should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Berkhamsted conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the property lawyer's time in submitting the funds this way.