Due to complete my purchase in Salisbury 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 mortgage company. What does the insurance need 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 conditions. These obligations are not specific to conveyancing in Salisbury.
At what point can the exchange of contracts happen for sale conveyancing in Salisbury and do I need to be at the conveyancers branch?
Where you are in close proximity to our conveyancing solicitors in Salisbury you are invited in to sign contracts. However, the firms we work with provide countrywide coverage for conveyancing and provide as equally diligent and professional a job for you when communicating with you by post or email. The signing of the purchase agreement is not the point of no return. Signing on the dotted line is necessary for the conveyancer to address the formalities at the appropriate time, which will usually be very shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Salisbury)to be in the office at the appropriate time.
I am assisting my sister sell her flat in Salisbury. Does the conveyancer commission the energy assessment or do I organise this?
Following the demise of HIPs, EPC’s was maintained a mandatory component of selling a house. An energy assessment must be to hand before the property is advertised. It is not a task that lawyers normally arrange. If you are using a Salisbury conveyancing solicitor they may help arrange energy assessments due to their contacts with long established Salisbury energy assessors
I have been told by my lawyer that restrictive coveneant insurance is required on my purchase. What is the level of cover for Salisbury conveyancing?
The right level of restrictive coveneant indemnity insurance should be dictated by who who your lender is. It would differ for example between Santander and Coventry Building Society. Conveyancing practitioners as opposed to members of the public take out such policies.
When it comes to mortgage companies such as Nottingham, do Salisbury lawyers face a fee to be on the list of approved solicitors?
We are unaware of any bank fees to be on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I bought my apartment on 10 February and my personal details are still not on the land registry website. Any reason for this? My conveyancing solicitor in Salisbury advises it would be concluded in less than a month. Are properties in Salisbury uniquely lengthy to register?
As far as conveyancing in Salisbury is concerned, registration is no quicker or slower than the rest of England and Wales. As opposed to being determined by geographic area, timeframes can differ depending on who lodges the application, whether it is in order and whether the Land registry communicate with any other parties. At present approximately three quarters of such applications are fully addressed in less than three weeks but occasionally there can be extensive hold-ups. Registration takes place once the buyer is living at the property therefore 'speed' is not typically top priority yet where there is a degree of urgency associated with the registration then you or your lawyers could speak with the land registry and explain the circumstances.
I am looking into buying my first house which is in Salisbury and I am already nervous. I couldn't find anything specific about Salisbury. Conveyancing will be needed in due course but do you know about the Salisbury area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Salisbury. In the meantime here are some basic statistics that we found
I only have 72 years left on my lease in Salisbury. I need to get lease extension but my freeholder is missing. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to prove that you or your lawyers have done all that could be expected to locate the lessor. For most situations a specialist may be helpful to carry out a search and prepare an expert document which can be accepted by the court as proof that the landlord is indeed missing. It is wise to seek advice from a property lawyer both on proving the landlord’s absence and the application to the County Court covering Salisbury.
I bought a basement flat in Salisbury, conveyancing having been completed half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Salisbury with a long lease are worth £186,000. The average or mid-range amount of ground rent is £55 levied per year. The lease ends on 21st October 2078
With just 53 years left to run we estimate the premium for your lease extension to range between £27,600 and £31,800 plus legals.
The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.