Due to move into my new home in Upper Norwood next Thursday. I have now been asked to send a copy of my building insurance schedule by my solicitor 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 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 obligations are not specific to conveyancing in Upper Norwood.
What is the best way to find out if the solicitor conducting my conveyancing in Upper Norwood is on the mortgage lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Platform Home Loans Ltd thus spending £175.00 in further legal invoice.
Please do take advantage of the search tool on this site. Pick the mortgage company and type ‘Upper Norwood’ or your location and you will be presented with numerous solicitors offices in Upper Norwood or nearest you.
I decided to have a survey done on a house in Upper Norwood prior to instructing conveyancers. I have been advised that there is a flying freehold element to the property. My surveyor advised that some banks tend not issue a loan on such a house.
It depends who your proposed lender is. HSBC has different instructions for example to Birmingham Midshires. If you contact us we can investigate further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Upper Norwood. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Upper Norwood to see if the conveyancing will be more expensive.
I have been advised by a few estate agents in Upper Norwood to select a solicitor on your site. What’s the financial incentive for Estate Agents to promote your services rather than a competitor’s?
We refuse to make any financial incentive for pointing buyers and sellers in our direction. We found it would be just too difficult a fee as home movers will think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.
Is it best to appoint a Upper Norwood conveyancing practitioner based in the area that I am purchasing? An old friend can handle the legal work but her office is 300kilometers away.
The benefit of a local Upper Norwood conveyancing firm is that you can attend the office to sign paperwork, hand in your ID and pester them where appropriate. Having local Upper Norwood know how is a plus. However it's more important to get someone that will pull out all the stops for you. If other friends have used your friend and they were impressed that must surpass using an unknown Upper Norwood conveyancing lawyer just because they are local.