All was ready to move into my new home in Swansea next Monday. 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?
All property lawyers on acting for banks 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 conditions. These requirements are not unique to conveyancing in Swansea.
Should commercial conveyancing searches reveal planned roadworks that could affect a commercial estate in Swansea?
Its becoming the norm that commercial conveyancing solicitors in Swansea will execute a SiteSolutions Highways report as it reduces the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Swansea. The search result sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Swansea.
For each commercial conveyancing transaction in Swansea it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately may cause delays to Swansea commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not conducted for domestic conveyancing in Swansea.
Despite weeks of looking the Title Certificate and documents to my house are lost. The conveyancers who dealt with the conveyancing in Swansea 5 years ago have long since closed. What are my options?
Assuming you have a registered title the information relating to your ownership will be evidenced by the Land Registry with a Title Number. It is easy to perform a search at the Land Registry, find your property and order current copies of the property title for less than a fiver. Where the property is Leasehold then the Land Registry will also normally hold a file copy of the Registered Lease and again, a copy can be retrieved for a small fee.
I'm buying my first flat in Swansea benefiting from help to buy. The sellers refused to move on the price so I negotiated five thousand pounds worth of extras instead. The property agent advised me not inform my lawyer about the extras as it will impact my mortgage with the bank. Is this normal?.
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.
How do I use your search app to select a conveyancing lawyer in Swansea on the authorised to act for my mortgage?
1st pick a mortgage company such as Halifax, Barnsley Building Society or Britannia then specify your preferred area for example Swansea. Conveyancing practices in Swansea and beyond will then be identified.
Can I determine who is the owner of a house in Swansea?
Provided the premises is registered with HMLR, and you have requisite specifics of the location of the property, you will be able to see results from the HM Land Registry of the recorded proprietor for a a minimal charge.