I am hoping to complete my purchase in Great Wyrley next Friday. My solicitor now wants me to supply her with evidence of content and building insurance for the property as as she informs me that she is duty bound to validate that it is in order for the lender. What does the insurance need to cover?
Any lawyer on acting for mortgage companies 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 requirements. These requirements are not specific to conveyancing in Great Wyrley.
Me and my brother purchased a renovated Victorian property in Great Wyrley. Conveyancing practitioner acted for me and National Westminster Bank. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, another for leasehold with the matching property. I'd like to know for sure, how can I find out??
You need to read 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Great Wyrley 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 buyers. You can also question the situation with your conveyancing practitioner who conducted the conveyancing.
I have been on the look out for a leasehold apartment up to £235,500 and found one round the corner in Great Wyrley I like with open areas and transport links nearby, the downside is that it's only got 61 years unexpired on the lease. I can't really find anything else in Great Wyrley 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 will be a potential deal breaker. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of twenty four months you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
I'm refinancing my primary home to a buy to let loan with Halifax and intend to use the remaining equity towards further house. The area we are interested in is Great Wyrley. Will your solicitors be able to act for the two lenders and tie in the transactions?
Make use of our comparison tool on this site to ensure that the lawyers are approved by both mortgage companies. On the basis that they are the lawyer will be able to simultaneously deal with the two conveyancing matters but you should have a chat with you conveyancer and make clear your desired outcome and requirements.
My uncle has suggested that I appoint his lawyers for conveyancing in Great Wyrley. Do I take his guidance?
There are no two ways about it the ideal way to find a conveyancing solicitor is to seek guidance from friends or family who have used the conveyancer you're are thinking of instructing.
My wife and I have recently appointed a conveyancing solicitor in Great Wyrley. I need to find out if they are listed on the lender's conveyancing panel. Can you help?
It’s a good idea contact the solicitor and ask them if they are on the lender's approved list. Alternatively please call us and we can investigate and revert. Should the firm not be on the lender panel we we can help find a specialist conveyancing solicitor in Great Wyrley on the approved list for your mortgage company.