I am hoping to move into my new home in Coventry next Thursday. My lawyer now wants me to supply her with evidence 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 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 UK Finance Lenders’ Handbook instructions. These requirements are not specific to conveyancing in Coventry.
I used Wolstenholmes several years ago for my conveyancing in Coventry. I now require my papers however the law firm has closed. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Coventry of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Coventry differ for new build properties?
Most buyers of new build property in Coventry approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is constructed. This is because builders in Coventry typically acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Coventry or who has acted in the same development.
I have been on the look out for a leasehold apartment up to £195,000 and found one round the corner in Coventry I like with a park and station in the vicinity, however it only has 49 remaining years left on the lease. I can't really find anything else in Coventry in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
If you need a home loan that many years will likely be a potential deal breaker. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least twenty four months you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.
What is different about your site and alternative internet conveyancing brokers for conveyancing in Coventry?
At this site secure a conveyancing quote from a Solicitor or Licensed Conveyancer that understands the issues for your conveyancing in Coventry. As opposed to estate agents and brokerage sites we do not operate kick-back arrangements with solicitors. Many agents and online brokers 'recommend' the firm who pay the highest kickback, rather than the best value conveyancing in Coventry
I am on look out for some leasehold conveyancing in Coventry. Before I set the wheels in motion I want to be sure as to the remaining lease term.
If the lease is registered - and 99.9% are in Coventry - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Leasehold Conveyancing in Coventry - Examples of Queries before buying
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If a Coventry lease has less than eighty years it will have adverse implications on the value of the apartment. Check with your lender that they are happy with residual term of the lease. Leases with fewer than 80 years remaining means that you will most likely have to extend the lease at some point and it is worth discovering what this would cost. For most Coventrylease extensions you will be be obliged to have owned the residence for a couple of years before you are eligible to exercise a lease extension. How is the lease structured? Who takes responsibility for maintaining and repairing the building?