My lawyer has informed me that absentee landlord insurance is necessary on my purchase. What is the level of cover for Templecombe conveyancing?
The right level of absentee landlord indemnity insurance depends on your lender. It would differ for example between HSBC Bank and Skipton Building Society. Conveyancing solicitors as opposed to members of the public take out such insurances.
Completion of my remortgage has taken place for my property in Templecombe. Conveyancing was of an acceptable standard but I would like to complain about the lender. How do I make a complaint?
All banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. We understand that complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
It is unclear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Templecombe bank branch on numerous occasions and was told it wasn't a problem and they will lend. My Templecombe conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they would not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
Your property lawyer has to comply with the Council of Mortgage Lenders’ Handbook Part 2 provisions for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Do I need to pay for insurance to cover chancel repairs when buying a house in Templecombe?
Unless a previous acquisition of the house completed post 12 October 2013 you may expect conveyancing practitioners delivering conveyancing in Templecombe to continue to propose a a chancel search and or insurance against a claim.
I'm purchasing my first flat in Templecombe with the aid of help to buy. The sellers would not reduce the price so I negotiated £7000 of extras instead. The sale representative told me not disclose to my conveyancer about this extras as it would adversely affect my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what should have been a simple, no chain conveyancing. Templecombe is where the house is located. What do you suggest?
Flying freeholds in Templecombe are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Templecombe you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Templecombe may decide 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.
There are only Sixty One years remaining on my flat in Templecombe. I now wish to extend my lease but my freeholder is missing. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to prove that you or your lawyers have used your best endeavours to find the lessor. On the whole a specialist should be useful to conduct investigations and to produce a report which can be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s absence and the application to the County Court covering Templecombe.
I am the registered owner of a ground floor flat in Templecombe, conveyancing was carried out in 2010. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Templecombe with an extended lease are worth £186,000. The ground rent is £55 yearly. The lease ceases on 21st October 2077
With just 52 years left to run we estimate the price of your lease extension to be between £29,500 and £34,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.
I am planning to acquire a house and need a conveyancing solicitor in Templecombe who is on the mortgage company solicitor panel. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the bank who do conveyancing in Templecombe. We dont recommend any particular solicitor.