All was ready to move into my new home in Romsey 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 mortgage company. What risks does the bank 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 UK Finance Lenders’ Handbook instructions. These obligations are not limited to conveyancing in Romsey.
It is a dozen years since I acquired my house in Romsey. Conveyancing solicitors have just been appointed on the sale but I can't find the title documents. Will this jeopardise the sale?
You need not be too concerned. First there is a possibility that the deeds will be retained by your lender or they could be in the possession of the solicitor who acted in your purchase. Secondly the chances are that the title will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers procuring up to date copy of the land registers. Almost all conveyancing in Romsey involves registered property but in the rare situation where your property is unregistered it is more problematic but is not insurmountable.
My Conveyancer in Romsey is not on the Britannia Approved Panel. Can I still continue with my family solicitor notwithstanding that they are not on the Britannia list of approved lawyers?
The limited options available to you here include:
- Carry on with your preferred Romsey lawyers but Britannia will need to retain a lawyer on their list of acceptable firms. This will result in additional total legal charges as well as result in delays.
- Get an alternative practitioner to act in the conveyancing, not forgetting to check they are Britannia approved.
- Persuade your Britannia solicitor to seek to join the Britannia panel
How does conveyancing in Romsey differ for new build properties?
Most buyers of new build residence in Romsey come to us having been asked by the builder to exchange contracts and commit to the purchase even before the house is completed. This is because builders in Romsey usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Romsey or who has acted in the same development.
My business partner and I are wishing to take over a lease of a shop on the high street. Can you recommend conveyancers offering competitive fees for commercial conveyancing in Romsey for less than £1,200?
We can recommend firms who host a wealth of experience of commercial conveyancing in Romsey, including the disposal and purchase of businesses as well as simply premises. Whether you are looking to buy or sell a shop, pub, restaurant, office, retail unit or a complete business we can put you in touch with the right lawyer. Regarding the fees these will vary based on the structure and complexity of the proposed transaction. Please provide us with your details or email so as to enable us to furnish you with a fixed commercial conveyancing calculation.
My lender have just issued us with a mortgage offer. We appointed a local conveyancer in Romsey two days ago. This morning, our broker called to say that the mortgage company said that we cannot use our solicitor as they aren't on their panel. As novices, we had no idea that the bank had a say Is this allowed?
You can actually choose any lawyer you prefer to appoint for your conveyancing in Romsey however if they are not on the your lender's panel you must pay an extra fee so the bank can instruct their own solicitors as well to protect their interest. sometimes it is possible your preferred conveyancing firm to get added to the bank panel. Do make the most of internet search facilities including lenderpanel.com to find a conveyancing solcitor in Romsey on the bank panel. You can go into your local mortgage company branch in Romsey. They can recommend conveyancing solicitors in Romsey on the approved list.