I am hoping to move into my new home in St Asaph next Thursday. My lawyer now wants me to supply her with proof of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the mortgage company. What risks does the bank expect the insurance to cover?
All property lawyers 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 Part 2 conditions. These obligations are not unique to conveyancing in St Asaph.
We see that you have a search directory identifying law firms on the Lloyds conveyancing panel. Do companies pay you a referral fee if I instruct them for our own conveyancing in St Asaph?
We are a listing service only for law firms wishing to communicate if they are on the Lloyds conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in St Asaph.
What happens if my lawyer’s firm is removed from the Nationwide Solicitor panel ahead of completing my conveyancing in St Asaph?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
About to purchase a new build apartment in St Asaph. Conveyancing is a frightening process 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.
Here is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in St Asaph
-
The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Please supply a car parking plan. 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. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
I've recently found out that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a straight forward, chain free conveyancing. St Asaph is where the house is located. Is there any advice you can give?
Flying freeholds in St Asaph are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside St Asaph you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in St Asaph may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I have been sourcing a conveyancing practitioner in St Asaph for my home move. Can I see a firm’s complaints history with the profession’s regulator?
Anyone can see presented Solicitor Regulator Association (SRA) determinations stemming from investigations from 2008 onwards. Visit Check a solicitor's record. For records Pre 2008, or to check a solicitors history, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, use +44 (0)121 329 6800. The SRA could monitor telephone calls for training purposes.