All was ready to complete my purchase in Saxmundham 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 lender. 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 UK Finance Lenders’ Handbook requirements. These requirements are not limited to conveyancing in Saxmundham.
It is a dozen years since I bought my house in Saxmundham. Conveyancing solicitors have just been appointed on the sale but I am unable to track down the deeds. Will this jeopardise the sale?
You need not be too concerned. First there is a possibility that the deeds will be kept by your lender or they may be archived with the solicitor who acted in your purchase. Secondly in all probability the land will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors acquiring up to date copy of the land registers. Nearly all conveyancing in Saxmundham involves registered property but in the rare situation where your home is unregistered it is more of a problem but is resolvable.
A friend advised me that where I am purchasing in Saxmundham I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes quoted for as part of the standard Saxmundham conveyancing searches. It is a large report of more than thirty pages, listing and setting out significant information about Saxmundham around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Saxmundham Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Saxmundham Education with plans and statistics, Local Amenities and other useful data about Saxmundham.
I acquired my flat on 13 August and my personal details is not yet registered. Should I be concerned? My conveyancing solicitor in Saxmundham expressed confidence that it should be dealt with in a couple of weeks. Are titles in Saxmundham particularly slow to register?
As far as conveyancing in Saxmundham registration is no faster or slower than the rest of the country. As opposed to being determined by geographic area, timeframes can differ subject to who lodges the application, whether it is in order and whether the Land registry communicate with any 3rd parties. Currently approximately 80% of such applications are fully addressed in less than three weeks but occasionally there can be longer delays. Historically registration is effected once the purchaser has moved in to the premises thus 'speed' is not always top priority but if there is a degree of urgency associated with the registration then you or your solicitor could communicate with the Registry to express the reasoning for the application to be prioritised.
We're first time buyers - had an offer accepted, yet the property agent has warned us that the owners will only go ahead if we appoint the agent's preferred solicitors as they need a ‘quick sale’. My instinct tells me that we should use a family solicitor accustomed to conveyancing in Saxmundham
We suspect that the seller is not behind this request. Should the seller require ‘a quick sale', taking such a hostile approach to a serious purchaser is likely to cause more damage than good. Bypass the agents and go straight to the sellers and make the point that (a)you are genuine buyers (b)you are ready to progress, with finances in place © you are chain free (d) you intend to proceed fast (e)but you are going to appoint your own,trusted Saxmundham conveyancing solicitors - not the ones that will earn their negotiator at the agency a referral fee or meet his conveyancing figures set by senior management.