I can't travel far from Bognor Regis. Can you please clarify why all Bognor Regis conveyancers are not on all mortgage company panels?
Even though it may seem unfair for banks to restrict who can represent them, from the public’s or solicitor’s viewpoint, the flip side is that lenders are increasingly anxious and consider it imperative to defend themselves from mortgage fraud. As a consequence of this concern banks have restricted their conveyancing panel to a size that they are happy to control.
Due to complete my purchase in Bognor Regis next Tuesday. My lawyer now wants me to supply her with proof 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 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 Bognor Regis.
We note that you have a post code search directory listing law firms on the Leeds Building Society conveyancing panel. Do companies pay you a commission if I appoint them for our conveyancing in Bognor Regis?
We are a listing service only for law firms wishing to communicate if they are on the Leeds Building Society conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Bognor Regis.
Yesterday I discovered that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a straight forward, chain free conveyancing. Bognor Regis is where the house is located. What do you suggest?
Flying freeholds in Bognor Regis are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Bognor Regis you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bognor Regis may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am using a search engine for the term on line conveyancing in Bognor Regis it reveals numerous property lawyersin the area. With so much choice what is the best way to find the suitable solicitor for my move?
The preferential method of choosing the right conveyancer is through a personal recommendation, so enquire of colleagues and relatives who have purchased a property in Bognor Regis or a respected estate agent or financial adviser. Charges for conveyancing in Bognor Regis vary, so it's advisable to request at least four fee calculations from different law firms. Be sure to obtain confirmation that the costs are assured not to escalate.