I am hoping to complete my purchase in Haringey next Monday. My lawyer now wants me to supply her with evidence of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the bank. What does the insurance need to cover?
All property lawyers 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 instructions. These requirements are not unique to conveyancing in Haringey.
Forgive me if this question is silly but I am wet behind the ears as a first time purchaser of a two bedroom flat in Haringey. Do I pick up the keys to the premises on completion from my lawyer? If this is the case, I will find a High Street conveyancing solicitor in Haringey?
On the day of completion you do not need to attend the conveyancers office in Haringey. Your solicitors will arrange to send the purchase money to the seller's solicitors, and shortly after the monies have arrived, you will be invited to pick up the keys from the property Agents and start moving into the property. Usually this happens between 1 and 3pm.
How can we tell if a Haringey conveyancing solicitor on the Nottingham panel is any good?
When it comes to conveyancing in Haringey seeking recommendations is a sensible 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 advocate that you speak with the solicitor conducting your conveyancing.
About to purchase house in Haringey. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Santander conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Haringey conveyancing practitioner is on the Santander conveyancing panel.
Should my lawyer be asking questions about flooding as part of the conveyancing in Haringey.
The risk of flooding is if increasing concern for conveyancers conducting conveyancing in Haringey. Some people will acquire a house in Haringey, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to impart advice on flood risk, but there are a various checks that can be carried out by the buyer or on a buyer’s behalf which will give them a better understanding of the risks in Haringey. The standard information given to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) incorporates a standard inquiry of the owner to find out if the premises has suffered from flooding. If the property has been flooded in past and is not revealed by the seller, then a buyer may bring a claim for damages stemming from an inaccurate response. The purchaser’s conveyancers should also commission an environmental report. This should indicate if there is a recorded flood risk. If so, additional inquiries should be carried out.
It has been five months since my purchase conveyancing in Haringey concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Haringey differ for newly converted properties?
Most buyers of new build residence in Haringey come to us having been asked by the seller to exchange contracts and commit to the purchase even before the property is built. This is because house builders in Haringey usually acquire 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 conveyancing solicitors 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 Haringey or who has acted in the same development.
We're FTB’s - had an offer accepted, yet the selling agent told us that the vendor will only proceed if we appoint their chosen lawyers as they need an ‘expedited deal’. We would rather use a high street solicitor accustomed to conveyancing in Haringey
It is highly unlikely the vendors are behind this. If they require ‘a quick sale', alienating a motivated purchaser is is going to put the whole deal at risk. Contact the vendors directly and make the point that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)but you intend to instruct your preferred Haringey conveyancing solicitors - not the ones that will earn their estate agent a commission or hit his conveyancing figures set by senior management.