Due to move into my new home in Welwyn Garden City next Monday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the bank. What does the insurance need 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 specific to conveyancing in Welwyn Garden City.
I used Stirling Law a few years ago for my conveyancing in Welwyn Garden City. Now, I need the files however the law firm has closed. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Welwyn Garden City of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Welwyn Garden City differ for newly converted properties?
Most buyers of new build or newly converted property in Welwyn Garden City contact us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is completed. This is because developers in Welwyn Garden City tend to buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Welwyn Garden City or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a house in Welwyn Garden City in advance of instructing conveyancers. I have been informed that there is a flying freehold overhang to the house. My surveyor advised that some lenders tend refuse to issue a mortgage on such a house.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Nationwide. Should you wish to telephone us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Welwyn Garden City. Conveyancing will be smoother if you use a solicitor in Welwyn Garden City especially if they are accustomed to such properties in Welwyn Garden City.
I have been pointed in your direction by a couple of local selling agents in Welwyn Garden City to find a conveyancer on your site. What’s the financial upside for Estate Agents to offer your services over and above another?
We refuse to give any referral fee for sending work in our direction. We thought it would be too underhand a fee as home movers will think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
Last February I purchased a leasehold flat in Welwyn Garden City. Do I have any liability for service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Leasehold Conveyancing in Welwyn Garden City - Sample of Questions you should consider before Purchasing
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Can you tell me if there are any major works in the planning that could increase the service costs? Plenty Welwyn Garden City leasehold apartments will be liable to pay a service charge for the upkeep of the block set by the landlord. Where you acquire the property you will have to meet this amount, usually periodically accross the year. This may differ from a few hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a rentcharge for you to pay yearly, this is usually not a large figure, say approximately £50-£100 but you should to enquire it because sometimes it can be surprisingly expensive. Who manages the block?