All was ready to complete my purchase in Morecambe next Friday. 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 bank. What does the insurance need 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 conditions. These obligations are not specific to conveyancing in Morecambe.
My wife and I buying a end of terrace house in Morecambe. We would like to carry out a loft conversion at the property.Will legal work on the property include enquiries to see if these works are allowed?
Your conveyancer should review the deeds as conveyancing in Morecambe can sometimes identify restrictions in the title deeds which restrict certain alterations or require the permission of a 3rd party. Many additions require local authority planning consent and approval under the building regulations. Some locations are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these things with a surveyor ahead of any purchase.
I have paid off my mortgage with RBS. I assume I don't need a Morecambe property lawyer on the RBS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your RBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the RBS mortgage from the register. RBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where RBS has sent the Land Registry the discharge electronically, and
- RBS has instructed the Land Registry to do so
After months of negotiation I have agreed a price on an apartment in Morecambe. My mortgage broker suggested a solicitor. I paid an upfront payment of £175. Shortly after, the conveyancing practitioner called me embarrassingly acknowledging that they were not on the Bank of Ireland 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 Bank of Ireland 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.
It has been 2 months since my purchase conveyancing in Morecambe took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm purchasing a new build house in Morecambe benefiting from help to buy. The sellers refused to move on the amount so I negotiated five thousand pounds worth of extras instead. The sale representative told me not reveal to my conveyancer about this extras as it would adversely affect my loan with the bank. Do I keep my lawyer in the dark?.
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 UK Finance website. UK Finance 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.
My uncle has suggested that I appoint his conveyancers in Morecambe. Should I use them?
No doubt the ideal way to select a conveyancing solicitor is to have referrals from friends or family who have actually previously instructed the solicitor you're contemplating using.
I happen to be an executor of my recently deceased aunt’s Will, with a property in Morecambe which is to be marketed. The property is unregistered at the Land Registry and I'm told that some buyers solicitors will insist that it is done before they'll move forward. What's the procedure for this?
In the circumstances you refer to it seems prudent to seek to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. HMLR’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and certified copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.