All was ready to complete my purchase in Newington next Tuesday. My conveyancer now wants me to supply her with evidence of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the bank. What risks does the mortgage company expect the insurance 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 Part 2 requirements. These obligations are not limited to conveyancing in Newington.
How does conveyancing in Newington differ for new build properties?
Most buyers of new build residence in Newington contact us having been asked by the builder to sign contracts and commit to the purchase even before the house is completed. This is because developers in Newington tend to purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Newington or who has acted in the same development.
In what way can the Landlord & Tenant Act 1954 affect my commercial premises in Newington and how can you help?
The 1954 Act affords security of tenure to commercial lessees, granting the legal entitlement to apply to court for a new lease and continue in occupation at the end of the lease term. There are limited grounds where a landlord can refuse a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Newington is one of our many areas of the UK in which the firms we work with are located
As co-executor for the will of my father I am disposing of a residence in Cardiff but live in Newington. My conveyancer (approximately 260 kilometers awayneeds me to sign a stat dec before the transaction finalising. Can you recommend a conveyancing solicitor in Newington who can witness and place their company stamp on the document?
strictly speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will suffice regardless of whether they are located in Newington
What can I do where I am dissatisfied with the solicitor who conducted our conveyancing in Newington?
Occasionally the level of service you receive is not as you expect, and is is a fact of life that sometimes matters do not go as planned. Nevertheless there is recourse if you were unhappy with your conveyancing in Newington. This varies from trying to resolve matters directly with them, through to reporting a conveyancer to their governing body. If things still aren’t resolved you may consider getting in touch with the Legal Ombudsman.