Is the fact that my solicitor in Northumberland Heath is not on my bank's solicitor panel that there is a problem with the quality of her conveyancing?
It would not be wise to jump to that conclusion. There are all sorts of perfectly plausible explanations. Just recently a report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Northumberland Heath conveyancing firm and enquire why they are no longer on the approved list for your bank.
Due to move into my new home in Northumberland Heath next Tuesday. My property lawyer 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 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 requirements. These requirements are not limited to conveyancing in Northumberland Heath.
Will conveyancers ask for money up-front when it comes to conveyancing in Northumberland Heath?
If you are buying a property in Northumberland Heath your solicitor will ask you to provide them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. When the down payment is as part of the total price then this should be asked for shortly prior to contracts are exchanged. Any further balance that is due will be payable a few days prior to the completion date.
A relative pointed out to me me that in buying a property in Northumberland Heath there could be a number of restrictions preventing external changes to the property. Is this right?
There are a number of properties in Northumberland Heath which have some sort of restriction or requirement of consent to perform external variations. Part of the conveyancing in Northumberland Heath should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
My partner and I have organised the release of further funds on our home loan from Nationwide as we want to carry out improvements to our home in Northumberland Heath. Do we need to select a local Northumberland Heath solicitor on the Nationwide conveyancing panel to deal with the paperwork?
Nationwide don't usually 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 Nationwide conveyancing panel.
I am selling my flat. I had a double glazing fitted in January 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Bank of Ireland are being pedantic. The Northumberland Heath solicitor who is on the Bank of Ireland conveyancing panel is saying indemnity insurance will be fine but Bank of Ireland are insisting on a building regulation certificate. Why do Bank of Ireland have a conveyancing panel if they don't accept advice from them?
It is probably the case that Bank of Ireland have referred the matter to their valuer. The reason why Bank of Ireland may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I have been on the look out for a leasehold apartment up to £245,000 and identified one close by in Northumberland Heath I like with open areas and railway links nearby, however it's only got 51 years unexpired on the lease. I can't really find anything else in Northumberland Heath in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a home loan that many years will be problematic. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this matter.