Due to complete my purchase in Warwickshire next Monday. My conveyancing practitioner now wants me to supply her with proof 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?
All property lawyers on acting for lenders 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 obligations are not limited to conveyancing in Warwickshire.
Can I use your services to find a Conveyancing solicitor in Warwickshire even where I’m not buying or disposing of a house, for instance where I want to acquire an office in Warwickshire with a mortgage from Lloyds TSB Bank?
Our search tool is predominantly there to select residential conveyancing solicitors in Warwickshire but we have listed at the bottom of this page a selection of Warwickshire commercial conveyancing firms. You will need to speak with the firm directly to establish if they can also act for Lloyds TSB Bank
If you had a top tip for selecting a conveyancing solicitor in Warwickshire what would it be?
Do not opt for the cheapest Warwickshire conveyancing fees. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I am the sole beneficiary of my late father’s will with all property in now in my sole name, including the my former home in Warwickshire. The Warwickshire property was put into my name in November. I plan to dispose of the property. I understand that there is a Mortgage Lenders six month 'rule', meaning my property ownership could be treated the same way as if I'd bought the house in November. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be affected by that. Most mortgage companies would take a sensible view as this clause principally exists to identify subsales or the quick reselling of properties.
Completion of my purchase has taken place for my property in Warwickshire. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Almost all lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
Are there restrictive covenants that are commonly picked up during conveyancing in Warwickshire?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Warwickshire. 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…’
I need to instruct a conveyancing lawyer in Warwickshire for my home move. Is it possible to check a solicitor's complaints history with the profession’s regulator?
Members of the public can read documented Solicitor Regulator Association (SRA) decisions stemming from investigations started on or after Jan 2008. Go to Check a solicitor's record. To find records about the period before 1 January 2008, or to check a firm's history, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, use +44 (0)121 329 6800. The regulator could recorded call for training reasons.
We own a leasehold flat in Warwickshire. Conveyancing was finalised in 2009. I have heard that I mustn’t allow the the remaining lease term to get too short. Why is that a problem?
Warwickshire residential long term leases are for a prescribed period - often ninety nine years when they commenced. However many appartments in Warwickshire were built or converted in the 70’s80’s and so such leases now have under 80 years remaining. This may sound like a long time however Banks, Building Societies and other mortgage companies generally require leases to have at least 75 years left to adequate security. Accordingly when you come to sell the property you will need a lease extension if you are getting close to 75 years. To maximise your property value you should be considering whether to extend your lease well in advance of selling the property. You should note that there are significant benefits to doing so before the lease hits eighty years as when the lease falls below 80 years the amount to be paid to extend starts to increase.