Due to move into my new home in Gravesend next Thursday. 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 mortgage company. What does the insurance need to cover?
All property lawyers 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 requirements are not limited to conveyancing in Gravesend.
We are buying a 4 bedroom semi-detached house in Gravesend. The intention is to carry out an extension to the side at the property.Will the conveyancing process include investigations to ascertain if these alterations are prohibited?
Your conveyancer should review the registered title as conveyancing in Gravesend will sometimes reveal restrictions in the title documents which prevent categories of alterations or need the consent of another owner. Some works call for local authority planning consent and approval in accordance building regulations. Certain locations are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these things with a surveyor ahead of any purchase.
How can we know in advance if a Gravesend conveyancing solicitor on the UBS panel is any good?
When it comes to conveyancing in Gravesend obtaining recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the solicitor conducting your transaction.
I recently had an offer accepted on a house in Gravesend. My financial adviser suggested a lawyer. I paid an advanced payment of £225. A couple of days later, the conveyancing practitioner called me sheepishly admitting that they were not on the Bank of Ireland 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 Bank of Ireland 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 am buying my first flat in Gravesend with a loan from Skipton Building Society. The developers would not budge the price so I negotiated 6k of extras instead. The house builders rep suggested that I not to tell my solicitor about this extras as it would jeopardize my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and found one round the corner in Gravesend I like with amenity areas and station nearby, the downside is that it's only got 49 years on the lease. There is not much else in Gravesend in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
Should you need a home loan that many years will likely be a potential deal breaker. Reduce the price by the expected lease extension will cost if it has not already been discounted. 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 pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
How do I search for a Gravesend solicitor on the Godiva Mortgages Ltd conveyancing panel? I drive a motor bike and am willing to travel upto 25miles to meet the lawyer.
You can use the facility on this website. Please pick a bank and your location and you will see a number of Gravesend conveyancing lawyers based on proximity. We have detailed some Gravesend conveyancing firms at the bottom of this page and you can telephone them to check if they are on the Godiva Mortgages Ltd panel
Would local authority consent be needed to change a single dwelling into a couple of appartments in Gravesend? This has occurred to a property opposite to my home in Gravesend and was not aware of it happening until it was complete.
Planning Permission yes. Building Reg Approval yes.