Due to move into my new home in Woolwich next Tuesday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the bank. 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 requirements are not unique to conveyancing in Woolwich.
At what point can the exchange of contracts happen for sale conveyancing in Woolwich and do I need to be at the lawyers office?
Where you are near to our conveyancing solicitors in Woolwich you are welcome to come in to sign documents. That being said, the lender approved solicitors we work with provide a national conveyancing service and give as equally diligent and professional a job for you when communicating with you electronically. The signing of the contract is not the point of no return. Signing on the dotted line simply enables the solicitor to address the formalities when the time is right, which is ordinarily shortly after signing. The procedure is is usually a five minute process, although where a long "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Woolwich)to be in the office at the appropriate time.
What is the optimum way to find out if the solicitor conducting my conveyancing in Woolwich is on the lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for National Westminster Bank thus spending £187.00 plus VAT in another set of conveyancing charges.
You should take advantage of the find a lender approved solicitor tool on this web page. Pick the mortgage company and type ‘Woolwich’ or your location and you will discover a number of lawyer based in Woolwich or nearest you.
We previously selected solicitors locally in Woolwich on the Lloyds solicitor approved list. They have just billed me an additional fee for the legal aspects of the Lloyds mortgage. Is this a supplemental conveyancing fee specified by Lloyds?
As unfair as it may seem, as long as it’s in their Terms of Engagement or Quote then yes your conveyancing practitioner is entitled to levy a fee for this. This charge is not set by Lloyds but by your Woolwich conveyancer. Some firms on the Lloyds panel will charge an ‘acting for lender’ fee and others do not.
We are getting the release of further funds on our home loan from Santander as we intend to conduct improvements to our property in Woolwich. Are we obliged to choose a bricks and mortar Woolwich solicitor on the Santander conveyancing panel to handle the legals?
Santander do not ordinarily appoint firms on their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Santander panel.
After much negotiation I have agreed a price on a house in Woolwich. My mortgage broker pressured me to appoint their property lawyer. I paid an advanced payment of £175. Soon after, the solicitor called me embarrassingly acknowledging that they were not on the Skipton conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Skipton panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Is it simple use the search facility to select a conveyancing practitioner in Woolwich on the authorised to act for my mortgage?
Step one is to choose a lender such as Lloyds TSB Bank, The Mortgage Works or Platform Home Loans Ltd then choose your preferred area a common one being Woolwich. Conveyancing firms in Woolwich and further afield will then be listed.
Should I use a Woolwich conveyancing lawyer in close proximity to the house I am buying? I have an old university friend who can handle the legal formalities but they are based 300kilometers away.
The primary upside of using a high street Woolwich conveyancing firm is that you can visit the firm to execute paperwork, deliver your identification documents and apply pressure on them where appropriate. Having local Woolwich know how is a benefit. That being said it's more important to get someone that will pull out all the stops for you. If if people you trust instructed your friend and the majority were content that must surpass using an unfamiliar Woolwich conveyancing solicitor just because they are local.