I am hoping to complete my purchase in Edenthorpe 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 risks does the lender expect the insurance to cover?
All property lawyers 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 Edenthorpe.
My wife and I are in the throws of viewing flats in Edenthorpe and I am now considering a potential offer. Should I already have a property lawyer appointed at this point? I will be getting a mortgage with Aldermore.
You should start requesting conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the selling agent. As you are getting a mortgage with Aldermore, ask your prospective lawyers if they are on the Aldermore conveyancing panel otherwise they can't do the mortgage legal work.
I am selling my flat. I had a double glazing fitted in March 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, RBS are being pedantic. The Edenthorpe solicitor who is on the RBS conveyancing panel is saying indemnity insurance will be fine but RBS are requiring a building regulation certificate. Why do RBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that RBS have referred the matter to their valuer. The reason why RBS 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.
Yorkshire BS have agreed my home loan in principle, my bid on a property in Edenthorpe has been agreed to, what are the next steps?
Your property agent will wish to know who your solicitors are (make sure the conveyancers are on the lender’s panel). Contact Yorkshire BS or the financial adviser and finalise any outstanding paperwork. Yorkshire BS will instruct a valuer who will get in contact with the selling agent or owners to schedule a time for the valuation to occur. Once conducted (assuming no problems) it takes about a fortnight to get a mortgage offer. Yorkshire BS will issue the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Edenthorpe.
My partner and I are selling our house in Edenthorpe and according to the buyers it appears that there is a risk of it being constructed on contaminated land. A high street Edenthorpe lawyer would know that there is no such problem. It does beg the question why the purchasers used a web based conveyancing firm rather than a conveyancing solicitor in Edenthorpe. We have lived in Edenthorpe for six years we know that this is a non issue. Should we get in touch with our local Authority to seek clarification that there is no issue.
It would appear that you have a conveyancing lawyer already. What do they say? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
I have been on the look out for a leasehold apartment up to £305k and identified one round the corner in Edenthorpe I like with amenity areas and transport links nearby, the downside is that it only has 61 years on the lease. I can't really find anything else in Edenthorpe suitable, so just wondered if I would be making a mistake purchasing a short lease?
If you require a mortgage the shortness of the lease may be an issue. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years 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 existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
I need to find a conveyancing solicitor for residential conveyancing in Edenthorpe. I happened to land on a web site which looks to be the ideal offering If it is possible to get all formalities done via phone that would be preferable. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
The loan offer from a mortgage company for the remortgage of my 2 bedroom apartment is coming imminently. Can you recommend an efficient remortgage conveyancing law firm in Edenthorpe ?
You have come to the wrong place to search for the lowest fares for conveyancing in Edenthorpe. Our aim is to provide value for money conveyancing but we do not aim to advertise as being the cheapest. Resist the temptation to appoint brokers offering £99 conveyancing in Edenthorpe.In your best case scenario, in going for cheap conveyancing, you will get what you pay for and at worst you will end up being stung for additional fee and still not get the service required.