I am hoping to move into my new home in Orpington next Tuesday. 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 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 Orpington.
Have purchased a a terraced house in Orpington , how long will it take for the Land Registry to record the transfer to my name? My Orpington conveyancing solicitor works at snail pace, so I want to be sure the registration is concluded.
There is nothing unique about conveyancing in Orpington registration formalities. As opposed to being determined by geographic area, timeframes can vary subject to the party submitting the application, whether it is in order and if the Land registry need to notify any other persons or bodies. At present approximately three quarters of submission are fully dealt with within two weeks but some can be subject to extensive hold-ups. Historically registration is effected once the purchaser is living at the premises therefore post completion formalities is not typically an essential issue yet if it is urgent that the the registration takes place urgently then you or your solicitor should speak with the land registry and explain the circumstances.
I'm purchasing my first flat in Orpington benefiting from help to buy. The builders refused to reduce the amount so I negotiated £7000 of fixtures and fittings instead. The estate agent told me not reveal to my solicitor about this side-deal as it could adversely affect my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I was pointed in your direction by numerous selling agents in Orpington to find a property lawyer on your site. Is there a financial upside for Estate Agents to market your lawyers rather than alternative conveyancing organisations?
We refuse to give any financial incentive for sending work in our direction. We thought it would be too underhand a fee as a client could think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.
I need to instruct a conveyancing solicitor for purchase conveyancing in Orpington. I have stumble across a web site which seems to have the ideal solution If there is a chance to get all this stuff completed via email that would be preferable. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Planning to sign contracts shortly on a garden flat in Orpington. Conveyancing lawyers have said that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Orpington should include some of the following:
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Where does the liability rest to repair and maintain the main walls and foundations. It is essential that you know who is responsible the repair and maintenance of all parts of the block and communal areas The unexpired lease term. You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years Whether your lease provides for a reserve fund for major works? Alterations to the flat You should know if the lease permits you to alter or improve anything in the property- you should be made aware as to whether any restrictions applies to all alterations or limited to structural alteration, and whether consent is mandated necessary
I am the registered owner of a two-bedroom flat in Orpington. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the premium payable for a lease extension?
in cases where there is a missing freeholder or where there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to make a decision on the price.
An example of a Lease Extension decision for a Orpington premises is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case related to 1 flat. The unexpired residue of the current lease was 50.57 years.