My lawyer has uncovered a a problem with the lease for the property we are purchasing in Honor Oak. The other side have put forward title insurance as a workaround. We are content with insurance and will cover the costs. Our property lawyer has advised that he must ensure that the lender is willing to move forward with this solution. Are we the client or is the mortgage company ?
Notwithstanding that you have a mortgage offer from the lender does not mean to say that the property will meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook requirements. You and the mortgage company are the client. These conveyancing instructions must be adhered to.
We are purchasing a house and the lawyer has referenced Chancel Repair for which the property may be obligated to pay given it’s proximity to the area of such a church. She has mentioned insurance. Is this strictly necessary for conveyancing in Honor Oak
Unless a prior acquisition of the premises took place after 12 October 2013 you can expect conveyancing practitioners handling conveyancing in Honor Oak to remain encouraging a chancel search and or chancel repair liability policy.
I'm buying a new build house in Honor Oak with the aid of help to buy. The sellers would not reduce the amount so I negotiated five thousand pounds worth of additionals instead. The sale representative advised me not to tell my conveyancer about the side-deal as it would jeopardize my loan with the lender. Should I keep quiet?.
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.
How do I identify a Honor Oak law firm on the Godiva Mortgages Ltd conveyancing panel? I drive a motor bike and am willing to travel upto 10miles to meet the conveyancer.
You can use the search on this website. Please choose the lender and your location and you will see a number of Honor Oak conveyancing lawyers locally. We have listed some Honor Oak conveyancing firms at the bottom of this page and you can telephone them to check whether they are on the Godiva Mortgages Ltd member panel
My father-in-law has recommend that I appoint his conveyancing solicitors in Honor Oak. Do I follow his advice?
No doubt it’s preferable to select a conveyancing practitioner is to seek referrals from friends or relatives who have actually experience in using the conveyancer that you are considering.
If all goes to plan we aim to complete our sale of a £300,000 garden flat in Honor Oak next week. The freeholder has quoted £396 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Honor Oak?
Honor Oak conveyancing on leasehold maisonettes normally involves the buyer’s lawyer sending enquiries for the landlord to address. Although the landlord is not legally bound to address such questions most will be content to assist. They may invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some situations it is in excess of £800. The administration charge levied by the landlord must be accompanied by a summary of rights and obligations in respect of administration fees, without which the invoice is technically not due. Reality however dictates that you have no option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
We have reached the end of our tether in trying to purchase the freehold in Honor Oak. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to determine the sum to be paid.
An example of a Lease Extension decision for a Honor Oak flat is Flat 1 40-42 Ewelme Road in August 2012. the Tribunal assessed the premium for the lease extension in the sum of £11,800 This case affected 1 flat. The unexpired term was 61.81 years.