Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Summertown and Botley. My lender is Nationwide Building Society
Nationwide Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 1/6/2025, the requirements read as follows :
I had a mortgage agreed in principle with Bank of Ireland. Summertown and Botley conveyancing solicitors have been chosen. How long does it take for Bank of Ireland to forward the offer to the lawyer?
Some lenders take longer than others. Have Bank of Ireland conducted the survey? Have you informed Bank of Ireland as to your lawyers' details and checked that your lawyers are on the Bank of Ireland conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I am due to exchange contracts on my house. I had a double glazing fitted in November 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Barclays are being difficult. The Summertown and Botley solicitor who is on the Barclays conveyancing panel is saying indemnity insurance will be fine but Barclays are insisting on a building regulation certificate. Why do Barclays have a conveyancing panel if they don't accept advice from them?
It is probably the case that Barclays have referred the matter to their valuer. The reason why Barclays 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.
Planning on purchasing a flat in Summertown and Botley. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Principality conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Summertown and Botley conveyancing practitioner is on the Principality conveyancing panel.
I am purchasing a property and the lawyer has referenced Chancel Repair for which the house may be obligated to pay as it falls into the area of such a church. He has suggested insurance. Is this really necessary for conveyancing in Summertown and Botley
Unless a previous acquisition of the premises completed after 12 October 2013 you can take it that solicitors handling conveyancing in Summertown and Botley to remain recommending a chancel search and or insurance against a claim.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in last month in what was supposed to be a quick, no chain conveyancing. Summertown and Botley is where the house is located. What do you suggest?
Flying freeholds in Summertown and Botley are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Summertown and Botley you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Summertown and Botley may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Do you have any top tips for leasehold conveyancing in Summertown and Botley from the point of view of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Summertown and Botley can be bypassed where you instruct lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation needed by the buyers’ conveyancers. A minority of Summertown and Botley leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors. In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Summertown and Botley leases often stipulate that internal structural alterations or laying down wooden flooring require a licence issued by the Landlord approving such works. Where you dont have the approvals in place do not contact the landlord without checking with your conveyancer in the first instance. Many freeholders or Management Companies in Summertown and Botley levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Summertown and Botley. You may think that you are aware of the number of years remaining on your lease but you should double-check by asking your lawyers. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is less than 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.
Summertown and Botley Leasehold Conveyancing - A selection of Questions you should consider Prior to buying
-
Are any of leasehold owners in dispute over their service charge payments? Does this lease have more than 82 years unexpired? Be sure to find out if the the lease contains any adverse restrictions in the lease. For example some leases prohibit pets being permitted in in a block in Summertown and Botley. If you love the flatin Summertown and Botley however your dog can’t make the move with you then you have a very difficult determination.
At what point do I incur stamp duty chargeable for my Summertown and Botley house purchase?
Your solicitor should fill out a Land Transaction Return Form on your behalf as part of your Summertown and Botley conveyancing transaction for you to sign. After completion your conveyancer will submit the STL application to the Inland Revenue and - as long as they have the money - discharge any land tax liability on your behalf.