Due to complete my purchase in South Norwood 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 lender. 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 Part 2 conditions. These requirements are not specific to conveyancing in South Norwood.
We are selling our flat in South Norwood. Does my solicitor have to be required to be on the Principality conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Principality conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently currently.
I need some quick conveyancing in South Norwood as I am faced with an ultimatum to sign on the dotted line in less than one month. Fortunately I do not require a mortgage. Is it possible to avoid the conveyancing searches to save money and time?
As you are not getting a mortgage you are at free not to do searches although no lawyer would recommend that you don't. With lots of history conveyancing in South Norwood the following are instances of what can appear and adversely affect future saleability: Refused Planning Applications, Overdue Fees, Outstanding Grants, Unadopted Roads,...
I'm buying my first flat in South Norwood with a loan from Norwich and Peterborough Building Society. The sellers would not reduce the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative suggested that I not to tell my lawyer about this deal as it would put at risk my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Taking into account that I am about to spend hundreds of thousands of pounds on a property in South Norwood I would like to have a conversation with the solicitor regarding thehouse move before instructing the firm. Is this something that you can arrange?
We could not agree more - it is our preference to talk to you we do not take any clients on without you speaking to the lawyer who will be carrying out your conveyancing in South Norwood.There is no ‘factory style conveyancing’ - each client is unique individual, not a file reference. The law firms that we put you in touch with believe that the fees you are quoted for residential conveyancing in South Norwood should be the amount on the final invoice that you are charged.
I note that you have a search directory listing firms on the lender conveyancing panel. Do South Norwood conveyancing firms pay you a referral fee if I instruct them for my house purchase?
We are a listing service only for law firms wishing to communicate if they are on the bank conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in South Norwood.