I am hoping to complete my purchase in Harold Wood next Monday. My conveyancer 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 mortgage company. What risks does the bank expect the insurance to cover?
Any lawyer 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 conditions. These requirements are not specific to conveyancing in Harold Wood.
Do conveyancers ask for money up-front for my conveyancing in Harold Wood?
If you are buying a property in Harold Wood your lawyer will request that you place them with monies to cover the search fees. Generally this is requested to cover the fees of the conveyancing searches. When the deposit is as part of the sale price then this should be asked for shortly before exchange of contracts. The closing balance that is due will be payable shortly before completion.
I have been recommended a conveyancing solicitor in Harold Wood. I I am struggling to find out if they are on the Leeds Building Society conveyancing panel. Could you advise?
You should e-mail your lawyer and enquire if they are on the lender panel. Otherwise you should call Leeds Building Society who may be able to help.
Do commercial conveyancing searches reveal proposed roadworks that may impact a commercial estate in Harold Wood?
Its becoming the norm that commercial conveyancing solicitors in Harold Wood will conduct a SiteSolutions Highways report as it reduces the time that conveyancers expend in investigating accurate data on highways that impact buildings and development assets in Harold Wood. The search result sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Harold Wood.
For each commercial conveyancing transaction in Harold Wood it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately may cause delays to Harold Wood commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not carried out for residential conveyancing in Harold Wood.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in last month in what was supposed to be a straight forward, chain free conveyancing. Harold Wood is where the house is located. Can you shed any light on this issue?
Flying freeholds in Harold Wood are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Harold Wood you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Harold Wood may determine 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.
I am looking for a conveyancing lawyer in Harold Wood for my house move. Is it possible to review a firm’s complaints history with the profession’s regulator?
Members of the public can review presented Solicitor Regulator Association (SRA) determinations arising from inquisitions started on or after Jan 2008. Visit Check a solicitor's record. For records Pre 2008, or to check a firm's record, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, dial +44 (0)121 329 6800. The SRA may monitor telephone calls for training requirements.