Due to move into my new home in Liss 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 lender. What does the insurance need 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 UK Finance Lenders’ Handbook conditions. These obligations are not limited to conveyancing in Liss.
I have a decision in principle. The lender mentioned the mortgage came with free conveyancing. Is the implication that I have to instruct their panel solicitor as I would prefer to appoint a local conveyancing solicitor in Liss?
Do check but the the probability is that give you one of their panel lawyers if you want the "fee-free" offer. Speak to the mortgage company to explore if they make available a cash alternative. Some lenders have previously offered a £250 cashback as an alternative in which case that money can go towards your preferred conveyancing solicitor near Liss.
I have decided to exercise my right to buy my property in Liss off the council. I have a mortgage offer with Virgin Money. 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 Virgin Money, you will need to appoint a solicitor on the Virgin Money conveyancing panel.
I recently had an offer accepted on an apartment in Liss. My financial adviser recommended their conveyancers. I paid an on account payment of £225. Soon after, the lawyer called me embarrassingly acknowledging that they were not on the Kent Reliance 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 Kent Reliance 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.
Our sealed bid on a property in Liss has been accepted, but there is a chain. The sellers have offered on on an apartment, but it’s not yet agreed to, and have viewings of other apartments in the pipeline. I have selected a nearby conveyancing solicitor in Liss. What do I do now? At what point should I apply for the mortgage with UBS?
It is normal to have concerns where there is a chain as you are unlikely to want to incur costs too early (home loan application is approx £1k, then survey, Liss conveyancing search fees, etc). The first thing to do is check that your lawyer is on the UBS conveyancing panel. As to the subsequent stages this very much depends on the uniqueness of your case, attraction to the property and on the state of the market. During a hot market some buyers will apply for a home loan with UBS and arrange for the valuation and only if it was satisfactory would they pay their property lawyer to move forward with the conveyancing in Liss.
My partner has urged me to instruct his lawyers for conveyancing in Liss. Should I use them?
There are no two ways about it the ideal way to find a conveyancing solicitor is to get recommendations from friends or relatives who have actually experience in using the conveyancer you're considering.
There are only Seventy years remaining on my flat in Liss. I am keen to get lease extension but my freeholder is absent. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to locate the lessor. On the whole an enquiry agent should be useful to carry out a search and prepare a report which can be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a property lawyer in relation to devolving into the landlord’s absence and the vesting order request to the County Court overseeing Liss.
I purchased a leasehold flat in Liss, conveyancing was carried out 8 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Liss with a long lease are worth £186,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease terminates on 21st October 2077
You have 52 years unexpired we estimate the premium for your lease extension to be between £29,500 and £34,000 plus costs.
The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.
How and when do I incur the Stamp Duty Land Tax chargeable for my Liss flat purchase?
Your solicitor will complete a Land Transaction Return Form on your behalf during your Liss purchase transaction for you to sign. After completion your lawyer will submit your Land Transaction Return Form to the Tax Authorities and - as long as they have the funds - discharge any tax bill due on your behalf.