Due to move into my new home in Haverhill next Tuesday. 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 lender. What does the insurance need 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 Part 2 instructions. These requirements are not specific to conveyancing in Haverhill.
I am considering remortgaging my apartment in Haverhill, does my lawyer need to be on the RBS Conveyancing panel?
In theory, you could use a solicitor that is not on the RBS conveyancing panel, but RBS would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
What is your number one tip for choosing a conveyancing solicitor in Haverhill
We would encourage you not to base your choice on the lowest Haverhill conveyancing costs illustration. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
This question may be naive but I am new to the house moving as FTB of a ground floor flat in Haverhill. Do I receive the keys to the property on the completion date from my conveyancer? If so, I will use a High Street conveyancing solicitor in Haverhill?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the completion advance to the seller's solicitors, and once they have received this, you will be invited to collect the keys from the selling Agents and start moving into the property. This tends to happen between 1 and 3pm.
I have paid off my mortgage with Barclays. I assume I don't need a Haverhill property lawyer on the Barclays panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Barclays mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Barclays mortgage from the register. Barclays, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Barclays has sent the Land Registry the discharge electronically, and
- Barclays has instructed the Land Registry to do so
How does conveyancing in Haverhill differ for new build properties?
Most buyers of new build residence in Haverhill approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is finished. This is because house builders in Haverhill tend to 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 Haverhill or who has acted in the same development.
I decided to have a survey done on a house in Haverhill before appointing conveyancers. I have been informed that there is a flying freehold element to the house. My surveyor has said that some lenders may refuse to grant a mortgage on a flying freehold house.
It varies from the lender to lender. Santander has different instructions for example to Nationwide. Should you wish to telephone us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Haverhill. Conveyancing will be smoother if you use a solicitor in Haverhill especially if they are familiar with such properties in Haverhill.
Our lawyer in Haverhill has discovered a defect with the lease for the apartment we are purchasing in Haverhill. The seller’s lawyers have offered title insurance as a solution. We are happy with insurance and will pay for it. Our lawyer says that as he is on the bank conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is the bank?
Just because you have a mortgage offer from the mortgage company does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Haverhill conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the lender are the client. The appropriate lender requirements must be adhered to by the bank conveyancing panel who has to balance acting for you and the bank