I am hoping to complete my purchase in Chipping Sodbury next Tuesday. 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 lender. What does the insurance need to cover?
Any lawyer 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 UK Finance Lenders’ Handbook conditions. These requirements are not specific to conveyancing in Chipping Sodbury.
It is 10 years ago since I bought my property in Chipping Sodbury. Conveyancing lawyers have just been retained on the sale but I can't find the title deeds. Will this jeopardise the sale?
You need not be too concerned. Firstly the deeds may be with the mortgage company or they may be in the possession of the conveyancers who handled the purchase. Secondly in all probability the title will be recorded at the land registry and you will be able to prove you own the property by your conveyancing lawyers obtaining up to date copy of the land registers. Almost all conveyancing in Chipping Sodbury involves registered property but in the unlikely event that your home is not registered it adds to the complexity but is not insurmountable.
Me and my brother purchased a semi-detached Georgian property in Chipping Sodbury. Conveyancing practitioner represented me and Accord Mortgages Ltd. I did a free Land Registry search last week and there are two entries: the first freehold, the second leasehold under the exact same address. I thought I was buying a freehold how can I check?
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Chipping Sodbury and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with your conveyancing practitioner who conducted the work.
What does commercial conveyancing in Chipping Sodbury cover?
Chipping Sodbury conveyancing for business premises covers a broad array of services, supplied by qualified solicitors, relating to business premises. For instance, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
Am I better off to go with a Chipping Sodbury conveyancing lawyer based in the area that I am purchasing? An old friend can carry out the legal formalities but his firm is located 200miles drive away.
The primary upside of using a high street Chipping Sodbury conveyancing firm is that you can attend the office to execute documents, deliver your identification documents and pester them if necessary. Having local Chipping Sodbury know how is a benefit. That being said it's more important to get someone that will pull out all the stops for you. If you know people who used your friend and in the main were content that should trump using an unfamiliar Chipping Sodbury conveyancing lawyer solely due to them being Chipping Sodbury based.
My solicitors in Chipping Sodbury have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with the lender. Is it case that being on the bank conveyancing panel they need to have retained the file for a prescribed period?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the lender Conveyancing Panel Terms. It might be worth you contacting the mortgage company directly.