All was ready to move into my new home in South Ruislip next Thursday. My property lawyer 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 mortgage company. 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 Part 2 instructions. These requirements are not limited to conveyancing in South Ruislip.
Can you explain why leasehold purchase conveyancing in South Ruislip costs more?
In summary, leasehold conveyancing in South Ruislip and elsewhere usually involve additional work compared to freehold transactions. This includes lease investigation, corresponding with the landlord concerning serving applicable notices, obtaining up-to-date service charge and management information, securing the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first granted.
What does a local search tell me concerning the property we're purchasing in South Ruislip?
South Ruislip conveyancing often starts with the submitting local authority searches directly from your local Authority or through a personal search company such as Searchflow The local search is essential in every South Ruislip conveyancing purchase; as long as you don’t want any nasty surprises after you move into your property. The search will reveal data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject sections.
I am buying a new build flat in South Ruislip. Conveyancing is necessary evil 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 legal work.
Set out below are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in South Ruislip
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Please confirm the Lease plans are architect prepared. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please supply a car parking plan. There must be mutual enforceability of lessee’s covenants. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
Due to the encouragement of my in-laws I had a survey completed on a house in South Ruislip before appointing lawyers. I have been told that there is a flying freehold element to the house. The surveyor advised that some mortgage companies tend refuse to grant a mortgage on a flying freehold home.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Halifax. Should you wish to telephone us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in South Ruislip. Conveyancing may be slightly more expensive based on your lender's requirements.
How simple is it to swap conveyancer as I have to retain one who is on the Santander conveyancing panel. I instructed a local conveyancing solicitor in South Ruislip five minutes from me but he is not approved by Santander
It would be our pleasure to help you find a conveyancing solicitor in South Ruislip on the Santander panel. Please note that the property lawyers that we work with do not pay us a referral fee if you instruct them and are authorised and regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in South Ruislip. In utilising search facility on this site, you can contrast charges for conveyancing solicitors in South Ruislip and beyond.