Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Chapel Allerton. My lender is The Mortgage Works
The Mortgage Works have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 21/11/2024, the requirements read as follows :
I have been advised by my lawyer that lack of right of way insurance is needed on my purchase. What is the level of cover for Chapel Allerton conveyancing?
The right level of lack of right of way indemnity insurance should be dictated by who your lender. It would differ for example between Yorkshire Building Society and The Royal Bank of Scotland. Conveyancing lawyers as opposed to borrowers take out such policies.
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Chapel Allerton bank branch on numerous occasions and was advised it wasn't a problem and they will lend. My Chapel Allerton conveyancing solicitor - who is on the lender conveyancing panel- called to say that they refuse to lend based on their published requirements. I simply don't know who is right.
As long as the property lawyer is on the lender approved list, they must comply with the CML Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
I recently had an offer accepted on a house in Chapel Allerton. My financial adviser recommended their conveyancers. I paid an upfront payment of £150. A couple of days later, the conveyancing practitioner called me to say that they were not on the Virgin Money conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Virgin Money panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am downsizing from our house in Chapel Allerton and the buyers lawyers are claiming that there is a possibility that the property was constructed land that was not decontaminated. A local conveyancer would know this is not the case. It does beg the question why the purchasers are using an internet conveyancing outfit rather than a conveyancing solicitor in Chapel Allerton. We have lived in Chapel Allerton for six years we know of no issue. Is it a good idea to contact our local Authority to get clarification that there is no issue.
It sounds as though you may have a conveyancing firm currently acting for you. Are they able to advise? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
I decided to have a survey done on a house in Chapel Allerton before retaining lawyers. I have been advised that there is a flying freehold element to the property. Our surveyor has said that some lenders will refuse to give a mortgage on this type of property.
It depends who your proposed lender is. Santander has different requirements from Nationwide. Should you wish to telephone us we can look into this further via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Chapel Allerton. Conveyancing may be slightly more expensive based on your lender's requirements.
I'm remortgaging my existing house to a buy to let loan with Alliance & Leicester and I will use the rest of the raised equity as a deposit on another property. The location we are looking at is Chapel Allerton. Will your conveyancers be able to act for both sets of lenders and tie in the transactions?
Do use our comparison tool on this page to check that the solicitors are on the appropriate lender panels. Assuming that they are the conveyancer will be able to simultaneously deal with the two conveyancing matters but you should have a chat with you lawyer and make clear your expectations and needs.