Due to complete my purchase in Magor next Tuesday. My solicitor now wants me to supply her with proof of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the mortgage company. What risks does the bank 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 requirements. These obligations are not limited to conveyancing in Magor.
We note that you have a post code search directory listing solicitors on the Leeds Building Society conveyancing panel. Do firms pay you a referral fee if I retain them for our own conveyancing in Magor?
We are a listing service only for law firms wishing to communicate if they are on the Leeds Building Society conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Magor.
We are purchasing a detached bungalow in Magor. We would like to carry out an extension to the side at the property.Will the conveyancing process involve checks to determine if these alterations are permitted?
Your conveyancer will review the registered title as conveyancing in Magor can sometimes reveal restrictions in the title documents which restrict certain alterations or need the permission of another owner. Many extensions call for local authority planning permissions and approval in accordance building regulations. Some areas are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. You should check these things with a surveyor ahead of any purchase.
I am buying a property in Magor. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Nottingham be concerned?
As your lender is Nottingham your lawyer must comply with the formal requirements set out in Part 2 of UK Finance Lenders’ Handbook for Nottingham. The Council of Mortgage Lenders’ Handbook stipulates minimum provisions for solar panel roof-space leases, and solicitors are required to report to Nottingham where a lease does not meet these requirements. The provisions relate to the installation of panels on properties countrywide and is not limited to Magor.
I recently had an offer agreed on a house in Magor. My financial adviser suggested a conveyancer. I paid an on account payment of £225. Soon after, the conveyancer called me to say that they were not on the HSBC 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 HSBC 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 require expedited conveyancing in Magor as I have an ultimatum to sign on the dotted line inside 2 weeks. A mortgage is not required. Can I decline from having conveyancing searches to save money and time?
If.Given you are are a mortgage free purchaser you have the choice not to have searches conducted although no conveyancer would recommend that you don't. With plenty of history conveyancing in Magor the following are examples of what can appear and adversely affect future saleability: Refused Planning Applications, Overdue Charges, Outstanding Grants, Unadopted Roads,...
I am buying a new build apartment in Magor. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Magor
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There must be mutual enforceability of lessee’s covenants. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please supply a car parking plan. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
In my capacity as executor for the will of my father I am selling a property in Newport but live in Magor. My lawyer (who is 200 kilometers from merequires that I execute a stat dec ahead of the transaction finalising. Could you suggest a conveyancing solicitor in Magor who can witness and place their company stamp on the document?
Technically speaking you are not likely to be required to have the documents witnessed by a conveyancing solicitor. Normally or notary public or solicitor will do regardless of whether they are Magor based