All was ready to move into my new home in West Dean next Tuesday. My conveyancing practitioner 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 risks does the mortgage company expect the insurance 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 requirements are not limited to conveyancing in West Dean.
In what way does my ID and proof of funds have anything to do with my conveyancing in West Dean? Is this really warranted?
It is indeed that case that these requests have nothing to do with conveyancing in West Dean. However these days you can not proceed with any conveyancing process in the absence handing over evidence of your identity. This usually takes the form of a either your passport or driving licence as well as a council tax bill. Please note that if you are providing your driving licence as evidence of identification it must be both the paper part as well as the photo card part, one is not satisfactory without the other.
Proof of the source of funds is mandated under Money Laundering Regulations. You should not be offended when you are asked to produce this as your lawyer will need to have this information on record. Your West Dean conveyancing solicitor will require evidence of proof of funds prior to accepting any funds from you into their client account and they should also ask additional queries regarding the source of funds.
We are selling our home in West Dean and according to the buyers it appears that there is a risk of it being built on contaminated land. A local conveyancer would know this is not the case. For the life of me I don't know why the purchasers used a national conveyancing firm rather than a conveyancing solicitor in West Dean. Having lived in West Dean for 5 years we know that this is a non issue. Do we contact our local Authority to seek clarification that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor already. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
How does conveyancing in West Dean differ for newly converted properties?
Most buyers of new build residence in West Dean come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is ready to move into. This is because house builders in West Dean typically purchase 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 conveyancers 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 accustomed to new build conveyancing in West Dean or who has acted in the same development.
What does commercial conveyancing in West Dean cover?
Commercial conveyancing in West Dean covers a wide array of advice, supplied by qualified solicitors, relating to business premises. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
I am looking for a conveyancing practitioner in West Dean for my home move. Is it possible to check a firm’s complaints history with the profession’s regulator?
You can find presented Solicitor Regulator Association (SRA) decisions resulting from inquisitions from 2008 onwards. Go to Check a solicitor's record. To find information Pre 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 non-uk callers, dial +44 (0)121 329 6800. The SRA sometimes recorded telephone calls for training reasons.