All was ready to move into my new home in Sheringham next Friday. 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 does the insurance need to cover?
All property lawyers on acting for mortgage companies 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 limited to conveyancing in Sheringham.
We note that you have a post code search directory listing law firms on the TSB conveyancing panel. Do companies pay you a referral fee if I appoint them for our own conveyancing in Sheringham?
We are a listing service only for law firms wishing to communicate if they are on the TSB conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Sheringham.
My wife and I purchased a terraced Georgian property in Sheringham. Conveyancing solicitor represented me and The Mortgage Works. I did a free Land Registry search last week and I saw two entries: one for freehold, the second leasehold under the exact same address. Is it worth asking The Mortgage Works to clarify?
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Sheringham and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the situation with the conveyancing practitioner who carried out the work.
I opted to have a survey completed on a property in Sheringham prior to instructing lawyers. I have been told that there is a flying freehold overhang to the property. The surveyor has said that some lenders tend refuse to give a mortgage on a flying freehold house.
It depends who your proposed lender is. Santander has different instructions for example to Nationwide. Should you wish to telephone us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Sheringham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Sheringham to see if the conveyancing will be more expensive.
Can you refer me to a conveyancer for conveyancing in Sheringham (or nearby)? It’s is for a remortgage.We had one selected but just discovered that are not on the panel for Bank of Ireland.
The purpose of this site is limited to being a directory service for property lawyers who wish to be listed as being on the approved conveyancing panel for Bank of Ireland in certain areas for example Sheringham . Our intention is not to recommend any specific conveyancing practitioner.