I am not in a position to travel far from Kennington. Can you please clarify why all Kennington lawyers aren't automatically on all mortgage company panels?
As inequitable as it may seem for banks to restrict who can act for them, from the public’s or lawyer’s viewpoint, the other side of the coin is that banks are increasingly anxious and regard it necessary to protect them from mortgage fraud. As a consequence of this concern banks are limiting their panel of approved conveyancing lawyers to a size that they are happy to control.
All was ready to move into my new home in Kennington next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor 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?
Any lawyer on acting for banks 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 requirements are not limited to conveyancing in Kennington.
We are close to exchanging contracts on the sale of our property in Kennington and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. A high street Kennington conveyancer would know this is not the case. For the life of me I don't know why the purchasers used a national conveyancing outfit rather than a conveyancing solicitor in Kennington. We have lived in Kennington for 5 years we know that this is a non issue. Do we get in touch with our local Authority to seek confirmation that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor currently acting for you. Are they able to advise? You must 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 life insurance to cover that same sickness)
My wife and I own a renovated Victorian property in Kennington. Conveyancing lawyer represented me and Godiva Mortgages Ltd. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, another for leasehold under 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 Kennington and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the situation with the conveyancing practitioner who conducted the work.
Am I right to be concerned that estate agents that I am dealing with are suggesting a web based conveyancing firm rather than a High Street Kennington conveyancing firm?
As with lots of service providers, often input from family and friends can be extremely useful or valuable. But there are lots of people with a vested interest in a conveyancing transaction; estate agents, financial adviser and mortgage companies may suggest lawyers to choose. On occasion these lawyers might be known to one of the organisations as experts in their field, but sometimes there may be a financial incentive behind the recommendation. You are at liberty to appoint your own lawyer. You need to be aware that some mortgage providers have an approved list of law firms you have to use for the lender aspect of your conveyancing.