All was ready to complete my purchase in Totteridge 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 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 UK Finance Lenders’ Handbook requirements. These requirements are not specific to conveyancing in Totteridge.
We are buying a detached bungalow in Totteridge. Our aim is to an extension at the rear at the house.Will legal due diligence on the property involve enquiries to determine if these works were previously refused?
Your conveyancer should check the registered title as conveyancing in Totteridge will sometimes identify restrictions in the title documents which restrict certain alterations or need the consent of a 3rd party. Some extensions need local authority planning permissions and approval in accordance building regulations. Certain areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. It would be sensible to check these things with a surveyor ahead of any purchase.
I happen to be the only beneficiary of my late mum's will and I have everything in my name now, including the house in Totteridge. Conveyancing formalities meant that the Land Registry date was in November. I plan to dispose of the house. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my property ownership may be treated the same way as though I had purchased the house in November. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. Most banks would take a sensible view as this clause is chiefly there to capture subsales or the quick reselling of property.
I currently have a mortgage with Skipton for my property in Totteridge. Conveyancing was finalised some time ago. Should I wish 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 Skipton?
Skipton must be informed of your intention before renting your property as this is likely to be a breach of Skipton’s mortgage conditions. It may be that Skipton will allow you to rent 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 Skipton directly. You need not do this via a Skipton conveyancing panel lawyer.
I have justbeen informed that Stirling Law have been shut down. They carried out my conveyancing in Totteridge for a purchase of a freehold house 18 months ago. How can I check that my home is not still registered in the name of the previous owner?
The easiest way to see if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Totteridge conveyancing specialists.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what should have been a simple, chain free conveyancing. Totteridge is where the house is located. Is there any guidance you can impart?
Flying freeholds in Totteridge are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Totteridge you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Totteridge may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I am downsizing from my home. My previous lawyers has retired. It would be helpful to have a recommendation of a conveyancing firm. Im based in Totteridge if that affects matters.
Do use our search tool to help you choose a solicitor for your conveyancing in Totteridge. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs with a minimum of fuss.