I am hoping to move into my new home in Charterhouse 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 bank. What risks does the bank expect the insurance 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 obligations are not unique to conveyancing in Charterhouse.
My aunt advised me that in purchasing a property in Charterhouse there may be a number of restrictions affecting the ability to carry out external alterations to a property. Is this right?
There are a number of properties in Charterhouse which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in Charterhouse should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Is it the case that all Charterhouse solicitors on the Skipton conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the Skipton approved list of solicitors they would need to be overseen by the SRA. Some mortgage companies do permit licenced conveyancers on their panel in which case such firms would be overseen by the CLC.
Last month we had a mortgage agreed in principle with Leeds Building Society. Charterhouse conveyancing practitioners were selected. What is the average time that one could expect to receive a mortgage offer from Leeds Building Society?
Some lenders take longer than others. Have Leeds Building Society conducted the survey? Have you advised Leeds Building Society as to your lawyers' details and checked that your lawyers are on the Leeds Building Society conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
What will a local search tell me about the house my wife and I buying in Charterhouse?
Charterhouse conveyancing often commences with the submitting local authority searches directly from your local Authority or through a personal search organisations for example Searches UK The local search is essential in every Charterhouse conveyancing purchase; as long as you wish to avoid any nasty once you have moved into your property. The search should provide information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject headings.
I am purchasing my first flat in Charterhouse with a mortgage from Britannia. The sellers refused to move on the price so I negotiated five thousand pounds worth of extras instead. The estate agent suggested that I not to tell my solicitor about the deal as it could adversely affect my mortgage with the lender. Should I keep quiet?.
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.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Charterhouse is where the house is located. Is there any guidance you can impart?
Flying freeholds in Charterhouse are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Charterhouse 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 Charterhouse may determine 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 am 14 days into a leasehold purchase having been recommend to a firm by the high street agent to handle our conveyancing in Charterhouse. I am not happy. Can you you assist me in finding new solicitors?
A solicitor would have to be very bad to suggest diss instructing them. Has the mortgage been sent? In the event that it has you need to inform them of the new contact details and get the offer are re-issued. The solicitor ideally needs to be on the banks approved list to avoid added charges and delays. That should be your first question of the new solicitors. The search tool can help you find a lender approved lawyer for your conveyancing in Charterhouse