Due to complete my purchase in Swavesey next Thursday. My lawyer now wants me to supply her with evidence of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the lender. What risks does the lender 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 instructions. These requirements are not unique to conveyancing in Swavesey.
I am planning to move home in December. Will my conveyancing solicitor call the removal company on the day of completion. As an aside, can you put forward a removal company in Swavesey. Conveyancing solicitor was organised prior to coming across your website.
On the day of completion you can collect the house keys from your selling agent however this should only take place once the sellers solicitors confirm to the agent that the monies to complete are in and the keys can be given over. Subsequently you will need to advise the removal men that they can start moving you in. As a matter of policy we do not suggest a particular removal company but can assist you in finding a residential property solicitor in Swavesey or a firm that specialises in conveyancing in Swavesey.
I have today made my last payment due on my mortgage with Nottingham. I assume I don't need a Swavesey property lawyer on the Nottingham panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Nottingham mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Nottingham mortgage from the register. Nottingham, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Nottingham has sent the Land Registry the discharge electronically, and
- Nottingham has instructed the Land Registry to do so
I had an offer accepted on a property in Swavesey on 15/10/2024, valuation was booked 2 days later, all came back fine. Solicitor appointed, so the only thing outstanding was my mortgage offer. Having made daily calls to Kent Reliance and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Kent Reliance conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Kent Reliance to deal with your lawyer's application to be on the Kent Reliance conveyancing panel. There's no guarantee that your solicitor will be accepted.
I am buying a new build apartment in Swavesey. Conveyancing is necessary evil 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.
Set out below is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Swavesey
-
Please supply a car parking plan. 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. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.
I've recently found out that there is a flying freehold issue on a house I have offered on last month in what should have been a simple, no chain conveyancing. Swavesey is where the house is located. What do you suggest?
Flying freeholds in Swavesey are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Swavesey you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Swavesey 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 residence.
I'm refinancing my current property to a buy to let loan with Barclays and I will use the rest of the raised equity as a deposit on another property. The location we are interested in is Swavesey. Will your solicitors be able to act for the two lenders and tie in the two deals?
Do use our search tool on this site to ensure that the solicitors are approved by both lenders. Having checked that they are the conveyancer should be able to tie up the two conveyancing matters but you should have a chat with you conveyancer and make clear your expectations and needs.
Can you offer any advice when it comes to appointing a Swavesey conveyancing firm to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Swavesey conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggest that you speak with two or three firms including non Swavesey conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be useful:
-
Can they put you in touch with clients in Swavesey who can give a testimonial? What are the costs for lease extension work?
I am the registered owner of a studio flat in Swavesey, conveyancing was carried out 3 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Swavesey with over 90 years remaining are worth £176,000. The average or mid-range amount of ground rent is £50 yearly. The lease terminates on 21st October 2104
You have 80 years remaining on your lease the likely cost is going to span between £8,600 and £9,800 plus legals.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.