All was ready to move into my new home in Upney next Tuesday. My solicitor 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 mortgage company. What does the insurance need to cover?
Any lawyer 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 requirements. These obligations are not limited to conveyancing in Upney.
We're in Upney, FTBs buying with a mortgage (lender is Santander , and our lawyer is on the Santander conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Santander conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner 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.
Can I be sure that the Upney conveyancing solicitor on the HSBC panel is any good?
When it comes to conveyancing in Upney getting recommendations is a sensible starting point. 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 advertising the lowest fees. We would always advise that you speak with the lawyer carrying out your conveyancing.
We are getting a further advance on our mortgage from RBS as we intend to conduct alterations to our home in Upney. Are we obliged to appoint a local Upney solicitor on the RBS conveyancing panel to handle the paperwork?
RBS do not ordinarily appoint a member of their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the RBS list.
Two weeks ago we had a mortgage agreed in principle with Yorkshire BS. Upney conveyancing practitioners are selected. How long does it take for Yorkshire BS to forward the offer to the conveyancing practitioner?
Some lenders take longer than others. Have Yorkshire BS conducted the valuation? Have you informed Yorkshire BS as to your lawyers' details and checked that your lawyers are on the Yorkshire BS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Are there restrictive covenants that are commonly identified during conveyancing in Upney?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Upney. 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…’
Am I better off to go with a Upney conveyancing solicitor based in the location that I am buying? We have a good friend who can carry out the legal work however his firm is located a couple of hundredkilometers away.
The benefit of a high street Upney conveyancing practice is that you can pop in to sign documents, deliver your ID and pester them where appropriate. Having local Upney know how is a bonus. However it's more important to get someone that will do a good and efficient job. If if people you trust instructed your friend and on the whole were content that must trump using an unknown Upney conveyancing solicitor solely due to them being round the corner.
I’m about to sell my garden apartment in Upney. Conveyancing lawyers have not yet been instructed, but I have recently received a yearly maintenance charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should clear the service charge as normal because all ground rent and maintenance charges should be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I am the leaseholder of a first floor flat in Upney. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the premium due for the purchase of the freehold?
in cases where there is a absentee landlord or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to calculate the sum to be paid.
An example of a Lease Extension matter before the tribunal for a Upney residence is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case affected 1 flat. The unexpired residue of the current lease was 61.36 years.