All was ready to move into my new home in Cuckfield next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the bank. What risks does the lender 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 instructions. These requirements are not limited to conveyancing in Cuckfield.
We previously appointed solicitors located in Cuckfield on the Coventry BS solicitor panel. They are now charging me an additional fee for dealing with the Coventry BS mortgage. Is this an additional conveyancing fee specified by Coventry BS?
As unfair as it may seem, as long as it’s in their Terms and Conditions or Quote then yes your lawyer may levy a fee for this. The charge is not set by Coventry BS but by your Cuckfield conveyancing practitioner. Plenty of firms on the Coventry BS panel will charge ’dealing with mortgage’ fee and others do not.
The mortgage over my property is with Clydesdale for my property in Cuckfield. Conveyancing has been completed some time ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Clydesdale?
Your original mortgage agreement with Clydesdale will provide that you need their approval prior to renting your property as this is likely to be a breach of Clydesdale’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Clydesdale directly. You need not do this via a Clydesdale conveyancing panel firm.
After weeks of negotiation I have agreed a price on a house in Cuckfield. My mortgage broker recommended their conveyancers. I paid an advanced payment of £225. A couple of days later, the solicitor contacted me sheepishly admitting that they were not on the Nottingham conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Nottingham panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I have been told that property searches are the main reason for obstruction in Cuckfield house deals. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of delays during the legal transfer of property. Searches are unlikely to feature in any delay in conveyancing in Cuckfield.
My wife and I own a semi-detached Victorian property in Cuckfield. Conveyancing solicitor represented me and Godiva Mortgages Ltd. I did a free Land Registry search last week and there are two entries: one for freehold, the second leasehold under the matching 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Cuckfield 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 mortgage companies. You can also enquire as to the position with your conveyancing lawyer who conducted the purchase.
Given that I will soon part with 450k on a terraced house in Cuckfield I would like to talk to a conveyancer about mytransaction prior to appointing the firm. Can this be arranged?
This is something that we recommend - we would be pleased to talk to you we do not take any clients on without you first talking to the conveyancer due to be conducting your property ownership legalities in Cuckfield.There is no ‘factory style conveyancing’ - each client is an important person, not a matter number. The law firms that we put you in touch with believe that the fees you are provided with for residential conveyancing in Cuckfield should be the figure that you end up paying.
I am using a search engine for the words conveyancing in Cuckfield it shows results of numerous conveyancersin the area. With so much choice what is the best way to find the suitable solicitor for purchase transaction?
The preferential method of finding the right conveyancer is through a personal testimonial, so enquire of colleagues and those you trust who have bought a property in Cuckfield or the reputable estate agent or financial adviser. Charges for conveyancing in Cuckfield vary, so it's advisable to secure at least three fee estimates from different companies. Be sure to seek confirmation what costs in the quote includes.