All was ready to move into my new home in Swansea next Friday. 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 lender. 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 Part 2 conditions. These obligations are not limited to conveyancing in Swansea.
Is there a reason why leasehold purchase conveyancing in Swansea is more expensive?
In summary, leasehold conveyancing in Swansea and elsewhere usually warrants extra due diligence compared to freehold conveyancing. This includes reviewing the lease, corresponding with the landlord about serving appropriate notices, securing up-to-date service charge and management information, obtaining the landlord’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 – no matter how many different owners have owned the lease since it was first entered into.
We're in Swansea, First time buyers purchasing with a mortgage (lender is Coventry BS , and our lawyer is on the Coventry BS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Coventry BS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Are all Swansea Conveyancing Quality Solicitors on the RBS conveyancing list of approved solicitors?
A selection of banks and building societies now make use of the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of firms.
How can we tell if a Swansea conveyancing solicitor on the Barclays panel is any good?
When it comes to conveyancing in Swansea seeking recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always recommend that you speak with the lawyer handling your transaction.
We expect to receive a OIP from Nottingham this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Nottingham recommend any Swansea solicitors on the Nottingham conveyancing panel, or is it better to go independently?
You will need to appoint Swansea solicitors independently although you'll need to choose one on the Nottingham conveyancing panel. The solicitor represents both you and Nottingham through the process.
What does commercial conveyancing in Swansea cover?
Non domestic conveyancing in Swansea incorporates a broad array of guidance, supplied by qualified solicitors, relating to business property. For instance, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
My husband and I are first time buyers - agreed a price, yet the estate agent informed us that the vendor will only proceed if we instruct their recommended lawyers as they want a ‘quick sale’. My instinct tells me that we should use a family solicitor used to conveyancing in Swansea
We suspect that the owner is unaware of this requirement. Should the seller want ‘a quick sale', turning down a serious purchaser is is going to put the whole deal at risk. Speak to the vendors direct and explain that (a)you are keen to buy (b)you are ready to go, with finances arranged © you have nothing to sell (d) you wish to move quickly (e)but you intend to instruct your own,trusted Swansea conveyancing solicitors - as opposed tothose that will earn the negotiator at the agency a commission or achieve conveyancing figures set by corporate headquarters.