I am hoping to move into my new home in Tidworth next Thursday. 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 bank. What risks does the lender expect the insurance to cover?
All property lawyers 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 instructions. These obligations are not unique to conveyancing in Tidworth.
five months have elapsed following my purchase conveyancing in Tidworth concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Tidworth differ for newly converted properties?
Most buyers of new build premises in Tidworth contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is built. This is because developers in Tidworth usually acquire the site, 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 accustomed to new build conveyancing in Tidworth or who has acted in the same development.
My partner has suggested that I appoint his conveyancers in Tidworth. Should I find my own conveyancer?
Much as we are happy to recommend a Tidworth conveyancing lawyer it’s preferable to find a conveyancing solicitor is to have guidance from friends or family who have used the firm you're contemplating using.
My wife and I purchased a leasehold flat in Tidworth. Conveyancing and Santander mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Tidworth who acted for me is not around. Any advice?
The first thing you should do is contact the Land Registry to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Tidworth conveyancing lawyer to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Tidworth Leasehold Conveyancing - Examples of Questions you should consider Prior to buying
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Are any of leasehold owners in dispute over their service charge liability? How much is the ground rent and service charge? Be sure to enquire if there are any onerous restrictions in the lease. For example plenty of leases prohibit pets being allowed in in a block in Tidworth. If you like the propertyin Tidworth however your dog can’t live with you then you have a very hard determination.
What are my options where I am unhappy with the solicitor who handled my conveyancing in Tidworth?
We live in an imperfect world, and is is a fact of life that occasionally matters do not go as planned. However there is recourse where you were dissatisfied with your conveyancing in Tidworth. This varies from trying to resolve matters directly with them, through to reporting a lawyer to their regulator. If things still aren’t sorted out you may consider enlisting the help of the Legal Ombudsman.