Due to complete my purchase in Lightwater next Tuesday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the mortgage company. What risks does the mortgage company expect the insurance to cover?
Any lawyer on acting for mortgage companies 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 obligations are not specific to conveyancing in Lightwater.
Can your site be used to find a Conveyancing solicitor in Lightwater even if I’m not buying or disposing of a house, for instance where I want to buy an office in Lightwater with a loan from TSB?
The service is primarily used to help choose domestic conveyancing solicitors in Lightwater but we have recorded towards the bottom of this page a few Lightwater commercial conveyancing firms. You will need to make contact with the company directly to establish if they are also authorised to represent TSB
I had a mortgage agreed in principle with Virgin Money. Lightwater conveyancing lawyers have been appointed. What is the average time that one could expect to receive a mortgage offer from Virgin Money?
There is no definitive answer here. Have Virgin Money done the survey? Have you advised Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I recently had an offer agreed on a house in Lightwater. My mortgage broker pressured me to appoint their lawyer. I paid an on account payment of £175. Not long after, the lawyer contacted me sheepishly admitting that they were not on the Co-operative conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Co-operative panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I was told three weeks ago that my mortgage has been agreed to by Skipton. Is it usual for Skipton to only issue the offer once my solicitor in Lightwater is approved on their conveyancing panel? Skipton have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Skipton to deal with your lawyer's application to be on the Skipton conveyancing panel. There's no guarantee that your solicitor will be accepted.
I need to instruct a conveyancing solicitor in Lightwater for my remortgage. Is there any facility to check a solicitor's record with the legal regulator?
You may see documented Solicitor Regulator Association (SRA) decisions stemming from investigations from 2008 onwards. Visit Check a solicitor's record. For records about the period before 1 January 2008, or to check a firm's record, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, use +44 (0)121 329 6800. The SRA could monitor call for training requirements.
What advice can you give us when it comes to appointing a Lightwater conveyancing firm to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a Lightwater conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Lightwater conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be useful:
-
Can they put you in touch with clients in Lightwater who can give a testimonial? What are the charges for lease extension conveyancing?
Lightwater Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to Purchasing
-
What is the name of the managing agents? How many years are left on the lease? If a Lightwater lease has less than 80 years it will have adverse implications on the salability of the property. Check with your bank that they are content with residual term of the lease. Leases with less than 80 years remaining means that you will almost definitely need a lease extension sooner rather than later and you need to have some idea of how much this will be. Remember, in most cases you would need to own the property for two years before you are eligible to exercise a lease extension.
What can I do to determine who is the owner of a property in Lightwater?
Assuming that the premises is recorded at the Land Registry, and you have enough information of the address of the property, you will be able to see results from the HM Land Registry of the recorded proprietor for a fee.