Due to complete my purchase in Heywood next Monday. 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?
Any lawyer 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 requirements. These obligations are not unique to conveyancing in Heywood.
I own a renovated Edwardian property in Heywood. Conveyancing practitioner acted for me and Bank of Ireland. I did a free Land Registry search last week and there are two entries: the first freehold, the second leasehold with the matching address. If a house is not a freehold shouldn't I have been informed?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Heywood and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with the conveyancing solicitor who completed the work.
Due to the encouragement of my in-laws I had a survey completed on a property in Heywood prior to retaining conveyancers. I have been advised that there is a flying freehold element to the house. Our surveyor advised that some banks may not issue a loan on this type of house.
It varies from the lender to lender. HSBC has different instructions for example to Nationwide. If you call us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Heywood. Conveyancing may be slightly more expensive based on your lender's requirements.
My husband and I are new on the property ladder - agreed a price, yet the estate agent told us that the seller will only move forward if we instruct the agent's recommended lawyers as they need a ‘quick sale’. My instinct tells me that we should use a high street conveyancer with experience of conveyancing in Heywood
It is improbable the vendors are driving this. If they require ‘a quick sale', taking such a hostile approach to a genuine buyer is counter productive. Speak to the owners direct and make sure they comprehend that (a)you are keen to buy (b)you are excited to move forward, with finances in place © you have nothing to sell (d) you intend to proceed fast (e)however you intend to appoint your own,trusted Heywood conveyancing lawyers - as opposed tothose that will provide the negotiator at the agency a introducer fee or hit his conveyancing targets pre-set by corporate headquarters.
What can I do to establish who is the owner of a property in Heywood?
On the basis that the property is recorded at the Land Registry, and you have enough specifics of the location of the property, you should be able to view details from the HMLR of the registered proprietor for a for less than a fiver.