My lawyer has informed me that restrictive coveneant insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Dawley and Lawley?
The right level of restrictive coveneant indemnity insurance depends on who your lender is. It would differ for example between Barclays and The Royal Bank of Scotland. Conveyancing solicitors as opposed to borrowers take out such insurances.
Is it correct that all Dawley and Lawley CQS (Conveyancing Quality Scheme) solicitors are on the Kent Reliance conveyancing list of approved solicitors?
It is true that some lenders now make use of the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of conveyancing solicitors.
I am selling my flat. I had a double glazing fitted in May 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Kent Reliance are being problematic. The Dawley and Lawley solicitor who is on the Kent Reliance conveyancing panel is saying indemnity insurance will be fine but Kent Reliance are requiring a building regulation certificate. Why do Kent Reliance have a conveyancing panel if they don't accept advice from them?
It is probably the case that Kent Reliance have referred the matter to their valuer. The reason why Kent Reliance may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
How does conveyancing in Dawley and Lawley differ for new build properties?
Most buyers of new build premises in Dawley and Lawley come to us having been asked by the seller to sign contracts and commit to the purchase even before the house is completed. This is because builders in Dawley and Lawley tend to buy 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 property lawyers 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 accustomed to new build conveyancing in Dawley and Lawley or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a house I have offered on last month in what was supposed to be a quick, chain free conveyancing. Dawley and Lawley is where the house is located. What do you suggest?
Flying freeholds in Dawley and Lawley are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Dawley and Lawley you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Dawley and Lawley 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 residence.
How straightforward is it to use the search tool to locate a conveyancing lawyer in Dawley and Lawley on the panel for my lender?
Step one is to choose a bank such as Nationwide Building Society, Chelsea Building Society or Platform Home Loans Ltd then choose your preferred area e.g. Dawley and Lawley. Conveyancing firms in Dawley and Lawley and nationally should be shown.
My father-in-law has recommend that I instruct his conveyancing solicitors in Dawley and Lawley. Do I follow his guidance?
There are no two ways about it the ideal way to find a conveyancing practitioner is to seek recommendations from friends or relatives who have actually previously instructed the firm you're considering.
I am employed by a busy estate agent office in Dawley and Lawley where we have experienced a number of leasehold sales derailed as a result of short leases. I have been given conflicting advice from local Dawley and Lawley conveyancing solicitors. Please can you clarify whether the owner of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Dawley and Lawley Conveyancing for Leasehold Flats - A selection of Queries Prior to buying
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What is the name of the managing agents? This question is important as a) areas could result in problems for the block as the communal areas may begin to deteriorate where services remain unpaid b) if the leasehold owners have an issue with the managing agents you will need to have full disclosure