I am hoping to complete my purchase in South Hackney next Monday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the lender. 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 UK Finance Lenders’ Handbook requirements. These requirements are not specific to conveyancing in South Hackney.
I am planning to acquire a property and require a conveyancing solicitor in South Hackney who is on the Lloyds TSB Bank solicitor. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Lloyds TSB Bank in certain locations such as South Hackney. We dont recommend any particular firm.
We were going to get a OIP from Nottingham this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Nottingham recommend any South Hackney solicitors on the Nottingham conveyancing panel, or is it better to find our own lawyer?
You will need to appoint South Hackney solicitors independently although you'll need to choose one on the Nottingham conveyancing panel. The solicitor represents both you and Nottingham through the process.
I am due to exchange contracts on my flat. I had a double glazing fitted in December 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Skipton are being problematic. The South Hackney solicitor who is on the Skipton conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Skipton are requiring a building regulation certificate. Why do Skipton have a conveyancing panel if they don't accept advice from them?
It is probably the case that Skipton have referred the matter to their valuer. The reason why Skipton 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.
Skipton have agreed my home loan in principle, my bid on a house in South Hackney has been agreed to, what are the next steps?
Your estate agent will wish to know who your solicitors are (make sure the conveyancers are on the bank’s panel). Call up Skipton or the broker and finish off any appropriate forms. Skipton will instruct a valuer who will get in contact with the selling agent or owners to schedule a time for the valuation to happen. Once conducted (assuming no problems) it takes approximately ten days for the mortgage offer to be issued. Skipton will send the offer to you and your lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in South Hackney.
Is it necessary to take out insurance to address the risk of chancel repairs when purchasing a house in South Hackney?
Unless a prior acquisition of the house took place after 12 October 2013 you can take it that solicitors conducting conveyancing in South Hackney to continue to suggest a chancel search and or chancel repair liability policy.
I have a terraced Georgian house in South Hackney. Conveyancing solicitor acted for me and Chelsea Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, the second leasehold under the matching address. I'd like to know for sure, how can I find out??
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in South Hackney and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the position with the conveyancing lawyer who conducted the work.
Are the South Hackney conveyancing lawyers identified as being on the bank conveyancing panel, together with their details provided by the mortgage company?
South Hackney law firm practices and firms carrying out conveyancing in South Hackney themselves provide us confirmation that they are on the lender conveyancing panel as opposed to being supplied with a list from the mortgage company directly.