All was ready to move into my new home in West London 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 mortgage company. What risks does the bank expect the insurance 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 Part 2 requirements. These obligations are not unique to conveyancing in West London.
It has been five months following my purchase conveyancing in West London completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in West London differ for newly converted properties?
Most buyers of new build residence in West London contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because builders in West London typically acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in West London or who has acted in the same development.
What is different about your site and alternative internet conveyancing solicitors for conveyancing in West London?
At this site get a conveyancing quote from a Solicitor or Licensed Conveyancer that understands the nuances for your conveyancing in West London. As opposed to estate agents and brokerage sites we do not operate kick-back arrangements with solicitors. Some agents and online brokers 'recommend' solicitors who pay the most commission, as opposed to the best value conveyancing in West London
I am a couple of weeks into a freehold purchase having been directed to solicitors by the selling agent to carry out the conveyancing in West London. I am not happy. Could you you assist me in finding new lawyers?
They would need to be very bad to suggest changing them. Has the loan offer been generated? In the event that it has you will need to make them aware of the replacement conveyancer and get the mortgage documents are re-issued. Your new solicitor ideally should be on the mortgage company approved list to avoid escalating expenses and complications. So that should be your first question of the new lawyers. The find a solicitor tool should assist you in finding a bank approved lawyer for your home move in West London