My wife and I are purchasing a 3 bedroom apartment in Martlesham Heath with a mortgage. We have a Martlesham Heath conveyancer, however the bank says she’s not on their "panel". We have to appoint one of the bank panel firms or keep our Martlesham Heath property lawyer as well as pay for one of their panel lawyers to act for them. This seems very unfair; are we not able to demand that the bank use our Martlesham Heath solicitor ?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Martlesham Heath conveyancing solicitor to apply to be on the conveyancing panel.
Are the BSA intent on creating a search tool with a view to list law firms on the Darlington Building Society conveyancing panel for example in Martlesham Heath?
We would not expect to be advised of any intention on the part of the BSA to promote such a search facility.
Will my solicitor be raising enquiries regarding flooding during the conveyancing in Martlesham Heath.
Flooding is a growing risk for conveyancers dealing with homes in Martlesham Heath. There are those who acquire a house in Martlesham Heath, fully expectant that at some time, it may be flooded. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or dispose of the premises. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Conveyancers are not best placed to offer advice on flood risk, but there are a number of checks that can be initiated by the purchaser or by their conveyancers which should give them a better appreciation of the risks in Martlesham Heath. The standard property information forms supplied to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual question of the seller to find out if the premises has ever been flooded. If the premises has been flooded in past which is not notified by the seller, then a buyer may commence a legal claim for losses as a result of such an inaccurate answer. The purchaser’s conveyancers may also carry out an environmental report. This will reveal if there is any known flood risk. If so, further inquiries should be made.
I opted to have a survey done on a house in Martlesham Heath ahead of retaining conveyancers. I have been advised that there is a flying freehold overhang to the house. My surveyor has said that some mortgage companies tend refuse to issue a mortgage on a flying freehold property.
It depends who your proposed lender is. Santander has different requirements for example to Nationwide. Should you wish to telephone us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Martlesham Heath. Conveyancing may be slightly more expensive based on your lender's requirements.
I'm refinancing my primary home to a BTL mortgage with Bank of Scotland and I will use the ballance of the raised equity as a down payment on a second property. The location we are interested in is Martlesham Heath. Will your lawyers be able to act for the two lenders and link together the transactions?
Make use of our search tool on this site to be sure that the conveyancers are on the appropriate lender panels. Having checked that they are your conveyancer should be able to simultaneously deal with the two transactions but you should talk with you conveyancer and make apparent your desired outcome and requirements.
Expecting to sign contracts shortly on a leasehold property in Martlesham Heath. Conveyancing solicitors have said that they will have a report out to me on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Martlesham Heath should include some of the following:
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Are pets allowed in the flat? You should receive a copy of the lease The length of the lease term. You should receive guidance as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? Whether your lease has a provision for a slush account for major repairs?
Martlesham Heath Leasehold Conveyancing - A selection of Questions you should consider before Purchasing
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In the main the outlay for major works are not included within service charges, albeit that a few managing agents in Martlesham Heath require leaseholders to contribute towards a reserve fund and this is used to offset against major works. How much is the service charge and ground rent on the apartment?