I am in the throes of changing my domestic loan to a Buy to Let The Mortgage Works mortgage. The bank has said that I require a lawyer for this. I got in contact with my previous Bickley conveyancing solicitor who acted on my behalf when I initially bought the property. The quote supplied of £450 plus VAT is surprising as its a remortgage than a sale or purchase.
The estimate does seem a little steep. If you shop around you might reduce the fees slightly by say £125. On the other hand, if you were pleased with the assistance the firm offered you couldlive to rue opting for an an unknown solicitor. If is important to ensure the solicitor can act for The Mortgage Works. Do make use of our search tool to find a Bickley conveyancing firm on the The Mortgage Works approved list of lawyers, which can often include conveyancing solicitors in Bickley.
I have 70 years remaining on my lease and require a lease extension for my apartment in Bickley. Conveyancing solicitors on the Chelsea Building Society panel can deal with such extensions right?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 10/12/2024 the requirements read as follows :
I am helping my sister sell her flat in Bickley. Will the conveyancer order the EPC or it is for the owner to coordinate?
After the abolition of Home Information Packs, energy performance certificates was maintained a required element of selling a property. An EPC should be to hand prior to the property being advertised. This is not a task that solicitors ordinarily organise. If you are using a Bickley conveyancing lawyer they might be willing to arrange energy performance certificates given their relationships with long established local accredited person
I am selling my apartment. I had a double glazing fitted in July 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Nationwide are being difficult. The Bickley solicitor who is on the Nationwide conveyancing panel is saying indemnity insurance will be fine but Nationwide are insisting on a building regulation certificate. Why do Nationwide have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nationwide have referred the matter to their valuer. The reason why Nationwide may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I've digested plenty of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Bickley solicitor - who is on the Clydesdale conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Clydesdale will need an independent valuation of the property. Your lawyer will not arrange this. Usually Clydesdale will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Bickley surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
My wife and I purchased a 4 bedroom Edwardian house in Bickley. Conveyancing solicitor acted for me and National Westminster Bank. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, the second leasehold under the exact same property. I thought I was buying a freehold how can I check?
You should review 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bickley and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the situation with the conveyancing solicitor who conducted the purchase.
I'm purchasing a new build house in Bickley with the aid of help to buy. The builders would not reduce the amount so I negotiated 6k of fixtures and fittings instead. The house builders rep told me not disclose to my solicitor about this deal as it may adversely affect my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I have been on the look out for a ground for flat up to £305k and found one near me in Bickley I like with a park and railway links nearby, however it only has 52 remaining years left on the lease. I can't really find anything else in Bickley for this price, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a home loan that many years may be problematic. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer about this.