We are soon to complete buying a house in Woking but as a consequence of wreckage from a small fire at the property I have was able negotiate reparation from the owner of £3k by way of a deduction in the price. This was going to be dealt with as part of a side agreement but Leeds Building Society will not permit this. Should they have been involved?
Any lawyer being on a Leeds Building Society conveyancing panel is obliged to inform Leeds Building Society of any changes to the sale price. If you were to refuse your lawyer to notify the reduction to Leeds Building Society then they would have to discontinue acting for you. In addition, Leeds Building Society and you would have to appoint a new conveyancer for your conveyancing in Woking.
This question may be naive but I am unseasoned as FTB of a ground floor flat in Woking. Do I collect the keys to the premises on the completion date from my lawyer? If so, I will find a local conveyancing solicitor in Woking?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will electronically transfer the completion advance to the seller's conveyancers, and shortly after the monies have arrived, you will be called to receive the keys from the property Agents and start moving into the property. This tends to happen between 1 and 3pm.
is it true that all Woking solicitors on the Aldermore conveyancing panel are governed by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Aldermore approved list of solicitors they would need to be overseen by the SRA. The majority of mortgage companies do permit licenced conveyancers on their panel and in that case the organisation would be governed by the Council of Licensed Conveyancers.
Completion of my purchase has taken place for my property in Woking. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. Ordinarily complaints to a lender are resolved very quickly. 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.
I'm buying a new build house in Woking with the aid of help to buy. The developers would not budge the price so I negotiated 6k of fixtures and fittings instead. The sale representative suggested that I not disclose to my conveyancer about this side-deal as it would adversely affect my loan with the lender. Is this normal?.
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.
I am looking for a ground for flat up to £235,500 and found one round the corner in Woking I like with a park and railway links nearby, the downside is that it's only got 51 remaining years left on the lease. There is not much else in Woking for this price, so just wondered if I would be making a grave error purchasing a short lease?
If you need a mortgage the shortness of the lease will be problematic. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of 2 years you may request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
All being well we will complete the sale of our £300,000 apartment in Woking in just under a week. The landlords agents has quoted £312 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Woking?
Woking conveyancing on leasehold maisonettes usually necessitates the buyer’s solicitor submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer such questions most will be content to do so. They may levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some situations it is above £800. The management information fee required by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration fees, otherwise the invoice is not strictly payable. In reality one has little option but to pay whatever is demanded if you want to sell the property.
I bought a basement flat in Woking, conveyancing having been completed 5 years ago. How much will my lease extension cost? Similar properties in Woking with over 90 years remaining are worth £265,000. The ground rent is £50 invoiced every year. The lease comes to an end on 21st October 2101
With just 76 years left to run the likely cost is going to be between £8,600 and £9,800 as well as costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.
I would be grateful if you would clarify what options are open to me where my Woking conveyancing searches reveals negative entries?
Ordinarily, almost all issues arising from Woking conveyancing search results can be addressed ahead of completion or title insurance could possibly be put in place. You need to note that even though you may be buying the premises and may be content to live with the search results, your mortgage lender may not, and ultimately they have the final say.