All was ready to complete my purchase in Hornsey Rise next Friday. 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 bank. What does the insurance need to cover?

All property lawyers on acting for banks 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 Part 2 conditions. These requirements are not specific to conveyancing in Hornsey Rise.

What does my ID and proof of funds have anything to do with my conveyancing in Hornsey Rise? Why is this being asked of me?

To satisfy the Money Laundering Regulations any Hornsey Rise conveyancing firm will require evidence of your identity in all conveyancing matters. This is normally satisfied by provision of a passport and an original bank statement or utility bill evidencing your correct address.

Under Money Laundering Regulations, property lawyers are required to investigate not simply the identity of conveyancing clients but also the source of fund that they receive in respect of any matter. Refusal to disclose this will lead to your conveyancer terminating their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.

Your conveyancers will have an obligation to notify the appropriate authorities should they consider that any monies received by them may contravene the Money Laundering Regulations.

I have paid off my mortgage with Virgin Money. I assume I don't need a Hornsey Rise conveyancing practitioner on the Virgin Money panel to remove the mortgage at the Land Registry. Please confirm.

If you have finished paying off your Virgin Money mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Virgin Money mortgage from the register. Virgin Money, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:

1. but are not moving to another property
2. where Virgin Money has sent the Land Registry the discharge electronically, and
3. Virgin Money has instructed the Land Registry to do so

The mortgage over my property is with Yorkshire BS for my property in Hornsey Rise. Conveyancing was finalised a year ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Yorkshire BS?

Your original mortgage agreement with Yorkshire BS will provide that you need their approval before letting out your property as this is likely to be a breach of Yorkshire BS’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Yorkshire BS directly. It should not be necessary to do this via a Yorkshire BS conveyancing panel lawyer.

The formalities of my remortgage has taken place for my property in Hornsey Rise. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?

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. Ordinarily 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.

I am purchasing a new build house in Hornsey Rise with a mortgage from Coventry Building Society. The builders refused to reduce the price so I negotiated five thousand pounds worth of additionals instead. The house builders rep advised me not to tell my conveyancer about the deal as it would impact my loan with the bank. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the builder 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.

I am using a search engine for the term on line conveyancing in Hornsey Rise it reveals numerous conveyancersin the vicinity. How do I determine which is the suitable conveyancer for the sale of my house?

The best method of finding the right conveyancer is via personal testimonial, so enquire of colleagues and those you trust who have acquired a property in Hornsey Rise or the respected estate agent or mortgage broker. Charges for conveyancing in Hornsey Rise differ, so it's advisable to secure at least four fee estimates from varying types of solicitors. Make sure that you know that the costs are assured not to increase.