All was ready to move into my new home in Presteigne 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 risks does the lender 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 instructions. These obligations are not unique to conveyancing in Presteigne.
My uncle passed away 10 months ago and as sole heir and executor I was left the property in Presteigne. The house had a relatively small loan left on it of around £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Barclays, pay off the mortgage. Is this possible?
Given you intend to refinance then Barclays will insist on your using a conveyancer on the Barclays conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Barclays conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Barclays mortgage is registered as a charge at the Land Registry.
I'm the sole beneficiary of my late grandmother’s estate with all property in now in my sole name, including the house in Presteigne. Conveyancing formalities meant that the Land Registry date was in December. I plan to dispose of the house. I do know about the CML 6 month 'rule', which means that my proprietorship may be considered the same way as if I'd bought the house in December. Will no one buy the property for half a year?
The CML handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be caught by that. Some mortgage companies would take a sensible view as this clause chiefly exists to identify the purchase and immediately sell or the flipping of property.
We had instructed conveyancers based in Presteigne on the Co-operative solicitor panel. They are now charging me a separate amount for handling the Co-operative mortgage. Is this an additional conveyancing fee set by Co-operative?
Unfortunately, so long as it is in their Terms of Engagement or estimate then yes your conveyancing practitioner can charge a fee for this. This charge is not dictated by Co-operative but by your Presteigne conveyancer. Some firms on the Co-operative panel will quote an ‘acting for lender’ fee and others do not.
I have decided to exercise my right to buy my property in Presteigne off the council. I have a mortgage offer with Aldermore. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have 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 Aldermore, you will need to appoint a solicitor on the Aldermore conveyancing panel.
Me and my brother purchased a semi-detached Victorian property in Presteigne. Conveyancing solicitor acted for me and Platform Home Loans Ltd. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, the second leasehold under the exact same property. If a house is not a freehold shouldn't I have been informed?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Presteigne and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the position with the conveyancing lawyer who conducted the work.
As co-executor for the will of my aunt I am disposing of a house in Swansea but live in Presteigne. My solicitor (who is 260 kilometers awayneeds me to sign a statutory declaration before completion. Could you suggest a conveyancing practitioner in Presteigne who can witness this legal document for me?
strictly speaking you are not likely to be required to have the documents attested by a conveyancing solicitor. Normally or notary public or qualified solicitor will do regardless of whether they are Presteigne based