Due to complete my purchase in Waterbeach next Monday. My solicitor 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 lender. What does the insurance need to cover?
Any lawyer 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 conditions. These obligations are not specific to conveyancing in Waterbeach.
Can I use your services to find a Conveyancing solicitor in Waterbeach even if I’m not buying or selling a house, for instance where I wish to acquire an office in Waterbeach with a mortgage from Birmingham Midshires?
Our search tool is primarily there to select residential conveyancing solicitors in Waterbeach but we have set out towards the end of this page a selection of Waterbeach commercial conveyancing firms. You will need to speak with the company directly to establish if they can also act for Birmingham Midshires
Are there restrictive covenants that are commonly picked up during conveyancing in Waterbeach?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Waterbeach. 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'm buying my first flat in Waterbeach with the aid of help to buy. The developers refused to reduce the price so I negotiated £7000 of additionals instead. The property agent advised me not inform my lawyer about the deal as it could put at risk my mortgage with the lender. Do I keep my lawyer in the dark?.
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 easy is it to switch conveyancer as I need to find a firm on the Santander conveyancing list. I had appointed a high street conveyancing solicitor in Waterbeach five minutes from me but he is not accepted by Santander
We will our best to assist in finding you a conveyancing solicitor in Waterbeach on the Santander panel. Please note that the property lawyers that we list do not pay us a referral fee if you instruct them and are under regulation of the SRA who oversee all conveyancing solicitors in Waterbeach. In making use of the find a conveyancing solicitor tool on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Waterbeach.
I today plan to offer on a house that seems to be perfect, at a reasonable price which is making it all the more appealing. I have since been informed that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Waterbeach. Conveyancing advisers have are about to be appointed. Will they explain the issues?
The majority of houses in Waterbeach are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Waterbeach in which case you should be looking for a Waterbeach conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your conveyancer should report to you on the legal implications.
Leasehold Conveyancing in Waterbeach - Examples of Queries before Purchasing
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The answer will be important as a) areas may cause problems in the block as the common areas may start to deteriorate if services are not paid for b) if the tenants have an issue with the managing agents you will wish to have all the details How many years are left on the lease? Is the freehold owned jointly by the tenants?