Due to move into my new home in Scotter 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 bank. What risks does the mortgage company expect the insurance to cover?
All property lawyers on acting for banks 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 unique to conveyancing in Scotter.
When can the exchange of contracts happen for domestic conveyancing in Scotter and am I required to be at the lawyers office?
Where you are round the corner to our conveyancing solicitors in Scotter you are welcome to attend to sign contracts. However, the firms we recommend provide a national conveyancing service and provide just as comprehensive 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 just a prerequisite for the solicitor 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 lengthy "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Scotter)to be in the office at the appropriate time.
I am considering applying for a Skipton mortgage for purchase of a newly converted (under development) in Scotter with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Skipton ?
In theory, you could use a solicitor that is not on the Skipton conveyancing panel, but Skipton would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
I decided to have a survey carried out on a property in Scotter before instructing solicitors. I have been advised that there is a flying freehold overhang to the house. The surveyor has said that some mortgage companies may refuse to issue a mortgage on such a home.
It varies from the lender to lender. HSBC has different requirements for example to Birmingham Midshires. If you call us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Scotter. Conveyancing will be smoother if you use a solicitor in Scotter especially if they regularly deal with such properties in Scotter.
Am I right to be concerned that brokers that I am dealing with are encouraging me to use a national conveyancing firm rather than a local Scotter conveyancing firm?
As is the case with lots of professional services, often referrals from connections can be worth their weight in gold. Yet there are numerous people with a keen interest in a conveyancing deal; estate agents, financial adviser and mortgage companies might all recommend conveyancers to instruct. Sometimes the solicitors might be known to one of the organisations as experts in their field, but occasionally there is an underlying commercial relationship behind the recommendation. You have the right to appoint your own lawyer. However, bear in mind that most banks specify a panel list of solicitors you have to use for the mortgage related work in your transaction.
The solicitors conducting our conveyancing in Scotter has forwarded documents to review that show the land is unregistered with epitome documents. How can it be that the property not yet recorded at the Land Registry?
It is rare for premises in Scotter to be unregistered. An 'epitome' is basically a dossier of photocopies of documents affecting an unregistered title. Many Scotter conveyancing solicitors will be able to handle such matters but if any uncertainty reigns the prevailing guidance nowadays is for the seller to register it first and subsequently sell - this undoubtedly result in a prolonged home move.