Much to our surprise we have been informed by our mortgage adviser that my Stamfordham the law firm I have appointed is not on the bank Solicitor panel. How can I check?
You need to call your Stamfordham lawyer directly. You lawyer should inform you what has happened. Where they are not on the panel they may be able to suggest a Stamfordham conveyancing practice that is on the conveyancing panel for your lender.
Due to complete my purchase in Stamfordham next Tuesday. 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 mortgage company. What does the insurance need 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 instructions. These obligations are not specific to conveyancing in Stamfordham.
Having sold my house in Stamfordham last January but our buyer keeps whats apping me to moan that her conveyancer is waiting to hear from myconveyancer. What are the post completion sale formalities following completion?
Following your disposal your solicitor should deliver the transfer documentation and all supplemental paperwork to the purchaser's lawyers. Where relevant, your lawyer must also confirm that the mortgage has been repaid to the buyers solicitors. There is unlikely to be post completion formalities peculiar conveyancing in Stamfordham.
I am close to exchanging contracts on the sale of our property in Stamfordham and according to the buyers it appears that there is a possibility that the property was constructed on contaminated land. Any high street Stamfordham lawyer would know this is not the case. For the life of me I don't know why the buyers used a web based conveyancing firm as opposed to a conveyancing solicitor in Stamfordham. Having lived in Stamfordham for many years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to seek clarification that the buyers are looking for.
It would appear that you have a conveyancing lawyer already. What do they say? You need to check with 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 illness)
The estate agent has sent us the confirmation of our purchase of a new build flat in Stamfordham. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Stamfordham
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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. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Forfeiture - bankruptcy or liquidation must not apply under this provision. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
I own a leasehold flat in Stamfordham. Conveyancing was finalised in 2009. I have read on numerous consumer forums that I should not let the the remaining lease term to fall too short. Why is that a problem?
Stamfordham leasehold properties are for a prescribed period - usually just under one hundred years when they commenced. However a significant appartments in Stamfordham were constructed or converted in the 60’s and so these leases now have under 80 years left to run. That may sound like a long time however Banks, Building Societies and other mortgage institutions generally need leases to have at least 75 years left to adequate security. Accordingly when you come to sell the property you will need to extend the term of your lease if you are approaching eighty years. To optimize the saleability of your property you should be considering whether to extend your lease well in advance of selling the property. You should note that there are advantages to doing so before the lease hits 80 years as when the lease is less than eighty years the amount you have to pay to extend starts to increase.