Due to move into my new home in Selhurst next Monday. My conveyancing practitioner now wants me to supply her with evidence 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 lender. What risks does the lender expect the insurance 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 unique to conveyancing in Selhurst.
Do the Building Society Association intend to launch a search tool with a view to list solicitors on the Melton Mowbray Building Society conveyancing panel for example in Selhurst?
We would not expect to be advised of any plans on the part of the BSA to promote such a register.
We are downsizing from our house in Selhurst and according to the buyers it appears that there is a possibility that the property was constructed on contaminated land. A high street Selhurst conveyancer would know this is not the case. For the life of me I don't know why the purchasers used a national conveyancing outfit rather than a conveyancing solicitor in Selhurst. We have lived in Selhurst for 5 years we know of no issue. Should we contact our local Authority to seek confirmation need.
It sounds as though you may have a conveyancing firm already. What do they say? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
Just had an offer accepted on a new build flat in Selhurst. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Selhurst
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There must be mutual enforceability of lessee’s covenants. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please confirm the Lease plans are architect prepared. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
I have been on the look out for a leasehold apartment up to £195,000 and found one close by in Selhurst I like with a park and transport links nearby, the downside is that it's only got 61 years on the lease. I can't really find anything else in Selhurst in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a home loan that many years may be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you may ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
Why is New Build conveyancing in Selhurst more costly?
Conveyancing in Selhurst for recently converted or new build homes often involve adoption of highways & drains, building regulations approval, planning permission, new build warranties such NHBC as well as additional queries and contractual considerations.