Due to move into my new home in Markyate next Friday. 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 lender. What does the insurance need to cover?
All property lawyers 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 instructions. These requirements are not specific to conveyancing in Markyate.
What does my ID and proof of funds have anything to do with my conveyancing in Markyate? Why is this being asked of me?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to check the identity of the person or body they are dealing with prior to agreeing to accepting their conveyancing business. The Terms of Engagement that you need to sign will no doubt confirm this. Your lender will also require certain documents to be checked. Should you are unwilling to provide ID verification documents, your conveyancer would not be able to act for you.
I have decided to exercise my right to buy my property in Markyate off the council. I have a mortgage offer with TSB. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with TSB, you will need to appoint a solicitor on the TSB conveyancing panel.
I have a mortgage with TSB for my property in Markyate. Conveyancing has been completed some time ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform TSB?
TSB must be informed of your intention prior to renting your property as this is likely to be a breach of TSB’s mortgage conditions. It may be that TSB will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact TSB directly. You need not do this via a TSB conveyancing panel lawyer.
I am due to exchange contracts on my apartment. I had a double glazing fitted in December 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Principality are being difficult. The Markyate solicitor who is on the Principality conveyancing panel is recommending indemnity insurance as a solution but Principality are requiring a building regulation certificate. Why do Principality have a conveyancing panel if they don't accept advice from them?
It is probably the case that Principality have referred the matter to their valuer. The reason why Principality may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Is it possible to change firm as I need to retain one who is on the Skipton Building Society conveyancing panel. I was using a high street conveyancing solicitor in Markyate five minutes from me but she is not accepted by Skipton Building Society
It would be our pleasure to assist you find a conveyancing solicitor in Markyate on the Skipton Building Society panel. Please note that the law firms that we on the directory do not pay us commission if you instruct them and are authorised and regulated by the SRA who regulate all conveyancing solicitors in Markyate. In making use of search facility on this website, you can compare and instruct different solicitors and conveyancers both nationally and in Markyate.
I am a fortnight into a freehold purchase having been recommend to solicitors by the estate agent to do our conveyancing in Markyate. I am am starting to be dissatisfied with the quality of service. Can you you assist me in finding new lawyers?
They would need to be really poor to suggest replacing them. Has your loan offer been issued? In the event that it has you need to make them aware of the new contact details and get the offer are issued to the new lawyers. Your conveyancer should be on the mortgage company approved list to avoid escalating costs and frustration. That should be your starting point. The find a solicitor tool will assist you in finding a lender approved conveyancer for your conveyancing in Markyate