I am hoping to complete my purchase in Plympton next Friday. My property lawyer 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 mortgage company. What risks does the mortgage company expect the insurance 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 UK Finance Lenders’ Handbook conditions. These obligations are not unique to conveyancing in Plympton.
My aunt advised me that in purchasing a property in Plympton there could be a number of restrictions prohibiting external changes to the property. Is this right?
There are a number of properties in Plympton which have some sort of restriction or requirement of consent to carry out external changes. Part of the conveyancing in Plympton should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am planning to move house in May. Will my conveyancing solicitor communicate with the removal company on the day of completion. As an aside, can you put forward a removal company in Plympton. Conveyancing solicitor was organised before I stumbled across this website.
On the afternoon of completion you can pick up the keys from your property agent but this can only happen when the vendors lawyers confirm to the agent that they have the completion monies and the keys can be passed over. You will need to inform the removal company that you are ready to move in. As a matter of policy we do not suggest a specific removal company but can assist you in finding a residential property solicitor in Plympton or a lawyer that specialises in conveyancing in Plympton.
Last month we had a mortgage agreed in principle with Lloyds. Plympton conveyancing solicitors have been appointed. How long does it take for Lloyds to send the offer to the property lawyer?
There is no definitive answer here. Have Lloyds conducted the valuation? Have you informed Lloyds as to your lawyers' details and checked that your lawyers are on the Lloyds conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
My wife and I are close to exchanging contracts on the sale of our home in Plympton and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. Any local lawyer would know that there is no such problem. For the life of me I don't know why the purchasers used an internet conveyancing outfit rather than a conveyancing solicitor in Plympton. We have lived in Plympton for three years we know that this is a non issue. Should we get in touch with our local Authority to get clarification that there is no issue.
It sounds as though you may have a conveyancing lawyer currently acting for you. What do they say? You need to check with 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 ailment)
Over the last few months I have been searching for a ground for flat up to £235,500 and identified one close by in Plympton I like with a park and railway links nearby, however it's only got 51 years unexpired on the lease. There is not much else in Plympton suitable, so just wondered if I would be making a mistake acquiring a short lease?
If you require a mortgage the remaining unexpired lease term will be an issue. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least twenty four months you may request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.
I have been sourcing a conveyancing lawyer in Plympton for my home move. Is it possible to review a firm’s record with the profession’s regulator?
Members of the public may search for documented Solicitor Regulator Association (SRA) decisions stemming from investigations from 2008 onwards. Go to Check a solicitor's record. For information Pre 2008, or to check a firm's record, ring 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, use +44 (0)121 329 6800. The regulator sometimes monitor telephone calls for training purposes.