I am hoping to complete my purchase in Gamston next Thursday. 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 bank. 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 Part 2 conditions. These obligations are not specific to conveyancing in Gamston.
I am the registered owner of a freehold property in Gamston but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in Gamston and has limited impact for conveyancing in Gamston but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
My wife and I have organised a further advance on our mortgage from Lloyds as we intend to conduct improvements to our property in Gamston. Do we need to choose a high street Gamston solicitor on the Lloyds conveyancing panel to deal with the paperwork?
Lloyds would not normally require a member of their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Lloyds conveyancing panel.
Completion of my purchase has taken place for my property in Gamston. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Almost all lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. We understand that complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
Yorkshire BS have agreed my home loan in principle, my offer on a house in Gamston has been agreed to, what are the next steps?
Your estate agent will need to know who your solicitors are (ensure that the property lawyers are on the lender’s panel). Contact Yorkshire BS or your financial adviser and finalise any outstanding forms. Yorkshire BS will appoint a valuer who will get in touch with the estate agent or owners to schedule a slot for the valuation to happen. Once conducted (assuming no problems) it takes about a week to receive the mortgage offer. Yorkshire BS will send the offer to you and your lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Gamston.
What can a local search tell me regarding the property my wife and I buying in Gamston?
Gamston conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search company for instance Onsearch The local search plays an important part in most Gamston conveyancing purchase; that is if you don’t want any nasty once you have moved into your new home. The search will reveal data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic areas.
Yesterday I discovered that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a quick, no chain conveyancing. Gamston is where the house is located. Can you offer any assistance?
Flying freeholds in Gamston are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Gamston you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Gamston may ascertain 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 property.
In my capacity as executor for the will of my father I am disposing of a residence in Swansea but I am based in Gamston. My lawyer (approximately 260 miles awayrequires that I execute a stat dec ahead of the transaction finalising. Could you suggest a conveyancing lawyer in Gamston who can attest this legal document for me?
Technically speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will suffice regardless of whether they are Gamston based