Due to complete my purchase in Ratcliff next Tuesday. My property lawyer now wants me to supply her with proof of content and building insurance for the property as as she informs me that she is duty bound to validate that it is in order 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 Part 2 conditions. These obligations are not unique to conveyancing in Ratcliff.
After much negotiation I have agreed a price on a house in Ratcliff. My financial adviser pressured me to appoint their solicitor. I paid an upfront payment of £200. A couple of days later, the conveyancer contacted me to say that they were not on the RBS 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 RBS 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 am due to exchange contracts on my house. I had a double glazing fitted in November 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, HSBC are being problematic. The Ratcliff solicitor who is on the HSBC conveyancing panel is recommending indemnity insurance as a solution but HSBC are insisting on a building regulation certificate. Why do HSBC have a conveyancing panel if they don't accept advice from them?
It is probably the case that HSBC have referred the matter to their valuer. The reason why HSBC may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I have instructed a Ratcliff property lawyer having made sure that they are on the Virgin Money conveyancing panel. Does my lawyer arrange the survey of the property?
Virgin Money will need an independent valuation of the property. Your lawyer will not arrange this. Usually Virgin Money 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. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Ratcliff postcode. As you are getting a mortgage with Virgin Money, you could contact them to see if they have a list of approved surveyors in Ratcliff.
What does a local search tell me concerning the house we're purchasing in Ratcliff?
Ratcliff conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search organisations such as Xpress Legal The local search plays an important role in most Ratcliff conveyancing purchase; as long as you wish to avoid any nasty surprises after you move into your property. The search should provide data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic headings.
The deeds to my house can not be found. The lawyers who conducted the conveyancing in Ratcliff 10 years ago are no longer around. What are my options?
These day there are duplicates made of almost everything, and your conveyancer will know precisely where to look for all the appropriate documentation so you can purchase or dispose of your property without a hitch. Where copies are not available, your lawyer may be able to put in place insurance or indemnities against future claims on the premises.
Yesterday I discovered that there is a flying freehold element on a property I have offered on a fortnight ago in what was supposed to be a simple, no chain conveyancing. Ratcliff is where the house is located. Is there any advice you can give?
Flying freeholds in Ratcliff are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Ratcliff you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ratcliff may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Last August I purchased a leasehold property in Ratcliff. Do I have any liability for service charges for periods before my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I inherited a ground-floor 1960’s flat in Ratcliff. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the amount due for a lease extension?
You certainly can. We are happy to put you in touch with a Ratcliff conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Ratcliff property is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case related to 3 flats. The remaining number of years on the lease was 101.61 years.