I am getting a offer of a home loan from Santander. I would like to instruct a Licensed Conveyancer in Helston. Does the Santander Conveyancing panel include Licensed Conveyancers?
The Santander conveyancing panel is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
I am hoping to complete my purchase in Helston next Tuesday. My conveyancer now wants me to supply her with proof 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 bank. 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 UK Finance Lenders’ Handbook conditions. These obligations are not limited to conveyancing in Helston.
I purchased a freehold property in Helston but still pay rent, why is this and what is this?
It’s unusual for properties in Helston and has limited impact for conveyancing in Helston but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
Should my lawyer be raising enquiries about flooding during the conveyancing in Helston.
Flooding is a growing risk for solicitors dealing with homes in Helston. There are those who buy a property in Helston, fully expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or sell the property. Steps can be carried out during the course of a property purchase to forewarn the purchaser.
Solicitors are not qualified to offer advice on flood risk, but there are a numerous checks that can be undertaken by the buyer or by their conveyancers which will give them a better appreciation of the risks in Helston. The conventional set of completed inquiry forms given to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) includes a standard question of the vendor to discover if the premises has suffered from flooding. If the premises has been flooded in past which is not revealed by the seller, then a buyer may commence a legal claim for losses as a result of such an misleading reply. The buyer’s lawyers may also commission an environmental search. This should higlight if there is a recorded flood risk. If so, further investigations should be made.
I purchased a renovated Victorian house in Helston. Conveyancing practitioner acted for me and Nottingham Building Society. I did a free Land Registry search last week and there are a couple of entries: the first freehold, another for leasehold under the exact same address. Is it worth asking Nottingham Building Society to clarify?
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Helston 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 lenders. You can also question the position with your conveyancing lawyer who conducted the work.
Am I best advised to go with a Helston conveyancing lawyer who is local to the property I am hoping to buy? An old friend can handle the legal work but his firm is located 300kilometers drive away.
The benefit of a high street Helston conveyancing practice is that you can attend the office to execute paperwork, deliver your ID and apply pressure on them if necessary. They will also have local intelligence which is a benefit. That being said nothing is more important than finding someone that will do a good and efficient job. If if people you trust used your friend and they were impressed that should trump using an unfamiliar Helston conveyancing solicitor solely due to them being based in the area.