We have agreed to purchase a house in Oxted. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Bank of Ireland be concerned?
Given that you are obtaining a mortgage with Bank of Ireland your lawyer must comply with the formal requirements contained in Part two of UK Finance Lenders’ Handbook for Bank of Ireland. The Council of Mortgage Lenders’ Handbook includes minimum requirements for solar panel roof-space leases, and property lawyers are required to report to Bank of Ireland where a lease does not meet these requirements. The provisions relate to the installation of panels on properties countrywide and is not limited to Oxted.
Completion of my purchase has taken place for my property in Oxted. Conveyancing was satisfactory but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
Most lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Department at head office. Ordinarily complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
After months of negotiation I have agreed a price on an apartment in Oxted. My financial adviser pressured me to appoint their property lawyer. I paid an advanced payment of £175. Shortly after, the solicitor called me embarrassingly acknowledging that they were not on the Leeds Building Society conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Leeds Building Society panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I have todayfound out that Arc property Solicitors have closed. They carried out my conveyancing in Oxted for a purchase of a leasehold flat 12 months ago. How can I establish that my home is in my name in the name of the previous owner?
The easiest method to see if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Oxted conveyancing specialists.
I am buying my first flat in Oxted with the aid of help to buy. The developers refused to budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative advised me not disclose to my lawyer about this deal as it will jeopardize my mortgage 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.
Due to the input of my in-laws I had a survey completed on a house in Oxted prior to retaining conveyancers. I have been told that there is a flying freehold element to the property. My surveyor has said that some banks will not give a loan on such a premises.
It depends who your proposed lender is. Lloyds has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Oxted. Conveyancing may be slightly more expensive based on your lender's requirements.
Should I be suspicious that third parties that I am dealing with are suggesting a national conveyancing firm as opposed to a local Oxted conveyancing company?
As is the case with lots of service providers, often input from family and friends can be worth their weight in gold. Yet there are lots of parties with a vested interest in a conveyancing transaction; estate agents, financial adviser and banks may suggest solicitors to instruct. Sometimes the conveyancers might be known to one of the organisations as one of the best in their field, but occasionally there may be a commercial relationship behind the recommendation. You are free to select your preferred lawyer. However, bear in mind that many banks operate an approved list of law firms you have to use for the lender related work in your transaction.
I am tempted by the attractive purchase price for a couple of maisonettes in Oxted which have in the region of fifty years left on the leases. should I be concerned?
A lease is a right to use the premises for a period of time. As a lease shortens the saleability of the lease deteriorates and it becomes more expensive to acquire a lease extension. This is why it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you get professional help from a conveyancer and surveyor with experience in this arena.
Leasehold Conveyancing in Oxted - Examples of Queries Prior to buying
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It is important to be aware whether window replacement or some other major work is coming up that will be shared amongst the tenants and will dramatically impact the level of the maintenance costs or require a specific payment. You should want to find out as much as possible concerning the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you are often at the mercy of the managing agents from a financial perspective and when it comes to day to day matters like the upkeep of the common parts. Ask other people what they think of them. In conclusion, investigate as to the dates that the maintenance fees are due to the relevant party and precisely how they are spending the funds. What is the the remaining lease term?