All was ready to move into my new home in Putney Vale next Thursday. My lawyer now wants me to supply her with evidence of content and building insurance for the property as as she informs me that she is duty bound to validate that it is in order for the mortgage company. What risks does the lender 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 instructions. These obligations are not specific to conveyancing in Putney Vale.
We are close to exchanging contracts on the sale of our house in Putney Vale and the buyers lawyers are claiming that there is a possibility that the property was constructed on contaminated land. Any local conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers instructed a nationwide conveyancing practice rather than a conveyancing solicitor in Putney Vale. We have lived in Putney Vale for three years we know of no issue. Should we get in touch with our local Authority to get clarification that the buyers are looking for.
It would appear that you have a conveyancing lawyer already. Are they able to advise? You need to check with 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 life insurance to cover that same illness)
How easy is it to change solicitor as I have to appoint a firm on the The Mortgage Works conveyancing panel. I hired a local conveyancing solicitor in Putney Vale five minutes from me but the firm is not accepted by The Mortgage Works
It would be our pleasure to help you find a conveyancing solicitor in Putney Vale on the The Mortgage Works panel. Please note that the conveyancers that we list do not pay us fee if you instruct them and are fully regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in Putney Vale. Using the find a conveyancing solicitor tool on this site, you can compare costs for conveyancing solicitors in Putney Vale and throughout England and Wales.
As co-executor for the will of my father I am disposing of a residence in Neath but reside in Putney Vale. My lawyer (who is 250 kilometers awayhas requested that I sign a stat dec prior to the transaction finalising. Can you recommend a conveyancing solicitor in Putney Vale to attest and place their company stamp on the document?
Technically speaking you should not need to have the documents witnessed by a conveyancing solicitor. Normally any notary public or qualified solicitor will do regardless of whether they are located in Putney Vale
Our lawyer in Putney Vale has discovered a a problem with the lease for the flat we are buying in Putney Vale. The seller’s lawyers have suggested defective title insurance as a workaround. We are happy with insurance and will pay for it. Our solicitor says that as he is on the bank conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. A precondition to being on the mortgage company approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.