I am hoping to complete my purchase in Sherwood 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 bank. 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 specific to conveyancing in Sherwood.
Finally the sale completed on my house in Sherwood last July but my buyer keeps texting me to moan that their solicitor needs to hear from mine. What should have happened now that I have sold?
Post completion of your disposal your solicitor is duty bound to deliver the transfer documentation and all additional paperwork to the purchaser's conveyancer. Where relevant, your lawyer should also evidence that the legal charge in favour of the lender has been paid off to the purchasers conveyancers. There are no post completion procedures unique to conveyancing in Sherwood.
Are there restrictive covenants that are commonly identified during conveyancing in Sherwood?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Sherwood. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I opted to have a survey done on a house in Sherwood before retaining conveyancers. I have been told that there is a flying freehold element to the house. The surveyor has said that some banks will not issue a mortgage on such a property.
It depends who your proposed lender is. HSBC has different requirements for example to Nationwide. Should you wish to telephone us we can investigate further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Sherwood. Conveyancing may be slightly more expensive based on your lender's requirements.
In my capacity as executor for the will of my grandfather I am disposing of a house in Newport but reside in Sherwood. My lawyer (based 200 miles awayhas requested that I execute a stat dec before the transaction finalising. Can you recommend a conveyancing practitioner in Sherwood who can attest this legal document for me?
Technically speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Normally or notary public or solicitor will suffice regardless of whether they are based in Sherwood