Due to move into my new home in Brompton next Tuesday. My solicitor now wants me to supply her with evidence of content and building insurance for the property as as she informs me that she is duty bound to validate that it is in order for the lender. What risks does the bank expect the insurance to cover?
Any lawyer 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 requirements. These obligations are not unique to conveyancing in Brompton.
We wanted to use a conveyancing solicitor in Brompton for our home move. Our financial adviser informed us that our mortgage company Virgin Money won't deal with them. Surely this is unduly restrictive?
A mortgage company can insist on an approved conveyancer act for it. Borrowers are expected to meet the cost of this. Try using our search facility to locate a solicitor to conduct conveyancing in Brompton on the Virgin Money conveyancing panel.
We are purchasing a 3 bedroom semi in Brompton. Our aim is to an extension at the rear at the house.Will the conveyancing process involve checks to determine if these alterations were previously refused?
Your conveyancer should review the registered title as conveyancing in Brompton will on occasion reveal restrictions in the title documents which prohibit categories of changes or require the consent of another owner. Some additions require local authority planning permissions and approval in accordance building regulations. Some areas are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. It would be wise to check these things with a surveyor ahead of any purchase.
About to purchase house in Brompton. 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 Lloyds 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 Brompton property lawyer is on the Lloyds conveyancing panel.
Lloyds have agreed my home loan in principle, my offer on a house in Brompton has been accepted, now what?
Your property agent will wish to be advised as to your conveyancer's details (ensure that the conveyancers are on the bank’s approved list). Call up Lloyds or your broker and finalise any appropriate documentation. Lloyds will instruct a valuer who will get in touch with the selling agent or vendor to book a slot for the valuation to happen. Once carried out (assuming no problems) it takes on average a week to get a mortgage offer. Lloyds will send the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in Brompton.
My relative recommended that if I am purchasing in Brompton I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is sometimes quoted for as part of the standard Brompton conveyancing searches. It is a large document of more than thirty pages, listing and detailing important information about Brompton around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Brompton Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Brompton Education with plans and statistics, Local Amenities and other useful data concerning Brompton.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Brompton. Conveyancing is a frightening process 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 conveyancing.
Here is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Brompton
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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. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Forfeiture - bankruptcy or liquidation must not apply under this provision.
I was recommended by numerous estate agents in Brompton to choose a conveyancer on your site. What’s the financial inducement for Estate Agents to offer your services over alternative conveyancing organisations?
We refuse to make any financial incentive for pointing buyers and sellers in our direction. We thought it would be too underhand a fee because home movers will think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.