Due to move into my new home in Northwood next Monday. 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 lender expect the insurance to cover?
All property lawyers 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 Northwood.
My grandfather passed away 10 months ago and as sole heir and executor I was left the house in Northwood. The house had a relatively small loan remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to Principality, pay off the mortgage. Is this possible?
Where you intend to re-mortgage then Principality will require that you use a conveyancer on the Principality conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Principality conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Principality mortgage is registered as a charge at the Land Registry.
We are purchasing a 3 bedroom semi in Northwood. We would like to carry out a loft conversion at the house.Will legal investigations on the property involve checks to see if these works are allowed?
Your property lawyer should review the deeds as conveyancing in Northwood will sometimes reveal restrictions in the title documents which prevent categories of works or require the permission of a 3rd party. Some additions call for local authority planning permissions and approval in compliance with building regulations. Certain areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. It would be wise to check these issues with a surveyor ahead of any purchase.
My partner and I have arranged the release of further monies on our home loan from Bank of Ireland as we want to carry out alterations to our home in Northwood. Do we need to appoint a bricks and mortar Northwood solicitor on the Bank of Ireland conveyancing panel to handle the paperwork?
Bank of Ireland do not ordinarily appoint a member of their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Bank of Ireland panel.
Having digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Northwood solicitor - who is on the Bank of Ireland conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Bank of Ireland will need an independent valuation of the property. Your lawyer will not arrange this. Usually Bank of Ireland will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Northwood surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I am purchasing a house and the lawyer has raised the issue of Chancel Repair for which the property may be obligated to contribute to given it’s proximity to the area of such a church. She has recommended insurance. Is this strictly required for conveyancing in Northwood
Unless a prior purchase of the premises took place after 12 October 2013 you can assume that lawyers delivering conveyancing in Northwood to remain recommending a chancel search and or chancel repair liability policy.
I am buying my first flat in Northwood with a mortgage from Barclays . The builders refused to move on the price so I negotiated £7000 of fixtures and fittings instead. The estate agent suggested that I not inform my solicitor about this extras as it will jeopardize my loan with the lender. 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 CML website. CML 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.
How can the Landlord & Tenant Act 1954 affect my commercial property in Northwood and how can your lawyers assist?
The 1954 Act provides protection to business leaseholders, giving them the dueness to make a request to court for a renewal tenancy and remain in occupation at the end of an expired lease. There are limited grounds where a landlord can refuse a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Northwood is one of the hundreds of locations in which the firms we work with are located