I am hoping to move into my new home in Sunderland 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 bank. What risks does the bank 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 UK Finance Lenders’ Handbook requirements. These requirements are not unique to conveyancing in Sunderland.
What happens if my solicitor is removed from the RBS Solicitor panel ahead of completing my conveyancing in Sunderland?
First, 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 at a cost.
I understand that there are debates on Chancel Insurance on online forums. Do I need chancel insurance when acquiring a residence in Sunderland? or Apparently there is an ancient law that could mean that house owners residing in a parish church boundary will be compelled to contribute towards maintenance to the chancel within the church. Is this appropriate for conveyancing in Sunderland?
Unless a previous acquisition of the house took place post 12 October 2013 you could assume that lawyers handling conveyancing in Sunderland to remain recommending a chancel search and or insurance against a claim.
Are there restrictive covenants that are commonly identified during conveyancing in Sunderland?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Sunderland. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does the Landlord & Tenant Act 1954 affect my commercial offices in Sunderland and how can you help?
The particular law that you refer to affords a safeguard to business lessees, granting the dueness to apply to court for a continuation of occupancy at the end of an expired lease. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Sunderland is one of our many locations in which our lawyers are based
Finally our conveyancing in Sunderland completes this Friday, however the vendors I am buying from wishes to move out on the Saturday PM. Do I agree to this?
You can't complete on a Saturday because the bank systems aren't working.