Due to move into my new home in Knottingley next Friday. 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 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 instructions. These obligations are not limited to conveyancing in Knottingley.
We just had an offer accepted to buy with Melton Mowbray Building Society. I visited 3 or 4 high street firms yet am struggling to find a Knottingley conveyancing firm on the Melton Mowbray Building Society approved list. Can you assist?
You should take advantage of the search tool on this page. Please choose the mortgage company and type Knottingley or your preferred area and you will discover numerous conveyancers offices in Knottingley or by proximity to you.
We have agreed to purchase a house in Knottingley. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender UBS be concerned?
As you are obtaining a mortgage with UBS your lawyer must follow the conveyancing instructions outlined in Section 2 of UK Finance Lenders’ Handbook for UBS. The CML Handbook stipulates minimum specifications for solar panel roof-space leases, and conveyancing practitioners are required to report to UBS where a lease fails to satisfy these conditions. The requirements relate to the installation of panels on properties nationwide and is not limited to Knottingley.
I am currently in the process of buying my council flat in Knottingley. I have a mortgage agreed with Barclays. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Barclays, you will need to appoint a solicitor on the Barclays conveyancing panel.
UBS have agreed my home loan in principle, my offer on a property in Knottingley has been agreed to, what are the next steps?
The estate agent will need to know who your solicitors are (ensure that the conveyancing practitioners are on the bank’s approved list). Telephone UBS or your broker and finalise any outstanding forms. UBS will appoint a valuer who will get in touch with the selling agent or seller to book an appointment. Once conducted (assuming no problems) it takes on average ten days for the mortgage offer to be issued. UBS will send the offer to you and your lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Knottingley.
Are there restrictive covenants that are commonly identified as part of conveyancing in Knottingley?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Knottingley. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am buying my first flat in Knottingley benefiting from help to buy. The sellers would not reduce the amount so I negotiated five thousand pounds worth of additionals instead. The property agent suggested that I not to tell my lawyer about this deal as it will adversely affect my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a quick, no chain conveyancing. Knottingley is where the house is located. Can you offer any guidance?
Flying freeholds in Knottingley are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Knottingley you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Knottingley may ascertain 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 residence.