All was ready to complete my purchase in Hedge End and Botley next Monday. 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 risks does the mortgage company expect the insurance 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 requirements. These requirements are not specific to conveyancing in Hedge End and Botley.
We note that you have a search directory listing law firms on the Clydesdale conveyancing panel. Do firms pay you a referral fee if I retain them for our conveyancing in Hedge End and Botley?
We are a listing service only for law firms wishing to communicate if they are on the Clydesdale conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Hedge End and Botley.
Me and my partner are purchasing a house in Hedge End and Botley. I might seem paranoid but how we can trust a conveyancer? On the day of competition we have to send our life savings into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
The formalities of my remortgage has taken place for my property in Hedge End and Botley. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Most lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. In most cases complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
Our offer on a detached house in Hedge End and Botley has been agreed to, but there is a chain. The sellers have put an offer on a property, however it’s not yet tied up, and are looking at other properties booked. I have chosen a bricks and mortar conveyancing solicitor in Hedge End and Botley. What do I do now? When do I get the mortgage application with Kent Reliance going?
It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is approx one thousand pounds, then survey, Hedge End and Botley conveyancing search fees, etc). First, you should ensure that your conveyancing practitioner is on the Kent Reliance approved list. As to the subsequent stages this very much dictated by the circumstances of your case, motivation for this property and on the state of the market. In a hot market the majority of buyers will apply for a home loan with Kent Reliance and arrange for the valuation and only if it comes back ok would they pay their conveyancing practitioner to proceed with the conveyancing in Hedge End and Botley.
I used Arc property Solicitors a few years ago for my conveyancing in Hedge End and Botley. I now require my papers however cannot find the solicitor. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Hedge End and Botley of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Do you have any top tips for leasehold conveyancing in Hedge End and Botley from the perspective of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Hedge End and Botley can be reduced where you appoint lawyers the minute your agents start marketing the property and ask them to collate the leasehold information which will be required by the purchasers’ lawyers. Many landlords or Management Companies in Hedge End and Botley charge for supplying management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Hedge End and Botley. If there is a history of any disputes with your freeholder or managing agents it is essential that these are settled before the property is put on the market. The buyers and their solicitors will be concerned about purchasing a property where a dispute is ongoing. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to reveal the dispute as over as opposed to unresolved. A minority of Hedge End and Botley leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
Hedge End and Botley Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to buying
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Is anyone aware of any major works on the horizon that will likely add a premium to the service fees? Its a good idea to discover as much as possible concerning the company managing the block as they will impact your use and enjoyment of the property. As the proprietor of a leasehold property you are frequently in the clutches of the managing agents from a financial perspective and when it comes to daily issues such as the tidiness of the communal areas. Enquire of other tenants whether they are happy with their service. Finally, investigate as to the dates that the maintenance charges are due to the appropriate party and precisely what you get for your money. The prefered form of lease structure is if the freehold interest is owned by the leaseholders. In this arrangement the lessees enjoy being in charge if their destiny and even though a managing agent is often employed if it is larger than a house conversion, the managing agent acts for the leaseholders themselves.
When it comes to my conveyancing in Hedge End and Botley should I be charged VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Hedge End and Botley conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the solicitor's time in submitting the funds this way.