I am being told by my lawyer that chancel insurance is required on my purchase. What is the level of cover for Kinver conveyancing?
The right level of chancel indemnity insurance should be dictated by who your lender. It would differ for example between Yorkshire Building Society and Virgin Money. Conveyancing practitioners as opposed to borrowers take out such policies.
We were going to get a DIP from HSBC this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do HSBC recommend any Kinver solicitors on the HSBC conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Kinver solicitors independently although you'll need to choose one on the HSBC conveyancing panel. The solicitor represents both you and HSBC through the process.
I am selling my apartment. I had a double glazing fitted in January 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Lloyds are being difficult. The Kinver solicitor who is on the Lloyds conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Lloyds are insisting on a building regulation certificate. Why do Lloyds have a conveyancing panel if they don't accept advice from them?
It is probably the case that Lloyds have referred the matter to their valuer. The reason why Lloyds may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Do I need to take out insurance to cover chancel repairs when acquiring a house in Kinver?
Unless a previous acquisition of the property took place post 12 October 2013 you can expect conveyancing practitioners delivering conveyancing in Kinver to remain recommending a chancel search and or chancel repair liability insurance.
I used Arc property Solicitors a few years past for my conveyancing in Kinver. Now, I need the files however cannot find the solicitor. What do I do?
You should contact 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 Kinver of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Kinver differ for new build properties?
Most buyers of new build premises in Kinver contact us having been asked by the developer to sign contracts and commit to the purchase even before the premises is ready to move into. This is because house builders in Kinver typically acquire the land, 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 used to new build conveyancing in Kinver or who has acted in the same development.
Due to the input of my in-laws I had a survey completed on a property in Kinver before instructing lawyers. I have been told that there is a flying freehold aspect to the house. My surveyor advised that some banks may refuse to issue a loan on this type of premises.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Nationwide. Should you wish to call us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Kinver. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Kinver to see if the conveyancing costs will increase in light of this.
Last April I purchased a leasehold house in Kinver. Am I liable to pay service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Kinver Leasehold Conveyancing - Examples of Questions you should ask Prior to Purchasing
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Be sure to enquire if the the lease includes any adverse restrictions in the lease. For instance plenty of leases prohibit pets being allowed in certain buildings in Kinver. If you love the propertyin Kinver however your cat is not allowed to live with you then you will be presented with a difficult compromise. Please inform me if there are any major works on the horizon that will likely increase the maintenance fees? You should be aware that where the lease has no more than 80 years it will affect the value of the apartment. It is worth checking with your lender that they are happy with the length of the lease. Leases with fewer than 80 years remaining means that you will probably have to extend the lease sooner rather than later and it is worth finding out what this would cost. For most Kinverlease extensions you will be be obliged to have been the owner of the residence for 24 months before you are eligible to extend the lease.