I am hoping to move into my new home in Keswick next Tuesday. My solicitor 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 lender. What risks does the bank expect the insurance to cover?
Any lawyer 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 UK Finance Lenders’ Handbook requirements. These obligations are not specific to conveyancing in Keswick.
I own a freehold premises in Keswick yet charged rent, why is this and what is this?
It’s unusual for properties in Keswick and has limited impact for conveyancing in Keswick but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
My Conveyancer in Keswick is not listed on the Virgin Money Solicitor Panel. Can I still use my prefered solicitor notwithstanding that they are excluded from the Virgin Money panel?
The limited options available to you here include:
- Carry on with your existing Keswick lawyers but Virgin Money will need to retain a conveyancer on their list of acceptable firms. This will inevitably rack up the overall conveyancing fees and result in delays.
- Choose an alternative lawyer to to deal with the purchase, remembering to check they are on the Virgin Money panel
How simple is it to change solicitor as I have to select one who is on the Lloyds TSB Bank conveyancing list. I instructed a local conveyancing solicitor in Keswick round the corner but she is not approved by Lloyds TSB Bank
It would be our pleasure to help you find a conveyancing solicitor in Keswick on the Lloyds TSB Bank panel. Please note that the law firms that we work with do not pay us a referral fee if you instruct them and are regulated by the SRA who oversee all conveyancing solicitors in Keswick. Using the find a conveyancing solicitor tool on this website, you can compare and instruct different solicitors and conveyancers both nationally and in Keswick.
Me and my wife have just had an offer accepted on a house and had an appointment on Wednesday with HSBC for the mortgage. They advised me that when it comes to choosing a conveyancer that unless they are on their approved list of lawyers then we will be subject to an an additional charge of £250+. This is is due to the fact that they will then have to appoint a property lawyer to act for them in addition to the one we appoint for ourselves and we will be on the hook for their invoice. I have requested HSBC to provide me with a list so I can obtain estimates only from their approved lawyers but was told they dont have such a list to hand over. Is there a list online?
You can enquire of HSBC what their panel criteria is for a solicitor.Thereafter ask the lawyer of your choice whether they fit that criteria and have they acted on loans for HSBC historically. If the answer to those is yes, then just double check with HSBC. Another option is to use our search tool and we should be able to find you a lawyer in Keswick on the panel for HSBC.