Due to complete my purchase in Mousehole next Friday. 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 bank. What does the insurance need to cover?
Any lawyer 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 requirements are not specific to conveyancing in Mousehole.
As someone clueless as to the Mousehole conveyancing process what’s the number one tip you can give me for the legal transfer of property in Mousehole
You may not hear this from too many lawyers but conveyancing in Mousehole and elsewhere in Cornwall is an adversarial process. In other words, when it comes to conveyancing there exists lots of opportunity for confrontation between you and other parties involved in the transaction. E.g., the vendor, estate agent and sometimes a lender. Appointing a solicitor for your conveyancing in Mousehole is a critical decision as your conveyancer is your adviser, and is the ONE party in the transaction whose interest is to act in your best interests and to protect you.
On occasion a third party with a vested interest may attempt to sway you that you should follow their advice. For example, the estate agent may claim to be assisting by suggesting your solicitor is dragging his heels. Or your mortgage broker may try to convince you to do something that is against your solicitors advice. You should always trust your lawyer above all other parties in the home moving process.
Will our lawyer be raising questions concerning flooding during the conveyancing in Mousehole.
Flooding is a growing risk for lawyers specialising in conveyancing in Mousehole. There are those who buy a property in Mousehole, completely expectant that at some time, it may be flooded. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or sell the premises. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Lawyers are not best placed to impart advice on flood risk, however there are a number of checks that can be initiated by the purchaser or on a buyer’s behalf which should figure out the risks in Mousehole. The standard information sent to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard inquiry of the vendor to determine if the premises has historically flooded. In the event that the property has been flooded in past which is not notified by the owner, then a buyer may issue a claim for damages stemming from an misleading response. A buyer’s conveyancers may also commission an enviro report. This should higlight whether there is any known flood risk. If so, more detailed inquiries will need to be conducted.
Me and my brother purchased a 4 bedroom Edwardian house in Mousehole. Conveyancing solicitor represented me and Virgin Money. I did a free Land Registry search last week and there are a couple of entries: one for freehold, another for leasehold with the matching address. Is it worth asking Virgin Money to clarify?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Mousehole and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the position with the conveyancing solicitor who conducted the conveyancing.
Taking into account that I am about to spend 450k on a house in Mousehole I would like to have a conversation with the lawyer regarding theconveyancing in advance of appointing the firm. Can this be arranged?
We could not agree more - it is our preference to talk to you we do not take any clients on without you liaising with the solicitor who will be conducting your property ownership legalities in Mousehole.There is no ‘factory style conveyancing’ - each client is unique person, not a file number. The solicitors that we put you in touch with believe that the figure you are quoted for your conveyancing in Mousehole should be the amount on the final invoice that you end up paying.
I am 17 days into a freehold purchase having been recommend to a firm by the local agent to perform conveyancing in Mousehole. I am am very disappointed with the level of service. Could you help me find new conveyancers?
They would have to be very bad to suggest diss instructing them. Has your mortgage been generated? In the event that it has you must inform them of the new contact details and have the offer are re-sent. The conveyancer needs to be on the mortgage company panel to avoid supplemental charges and delays. That should be your first question of the new lawyers. Our find a solicitor tool will help you find a lender approved solicitor for your home move in Mousehole