Will my conveyancing lawyers need to check that the building insurance when buying a house in Dalton in Furness. My lender is Platform
Platform have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 11/5/2021, the requirements read as follows :
I had a mortgage agreed in principle with TSB. Dalton in Furness conveyancing practitioners were chosen. How long does it take for TSB to issue the offer to the lawyer?
There is no definitive answer here. Have TSB conducted the valuation? Have you advised TSB as to your lawyers' details and checked that your lawyers are on the TSB conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have a mortgage with Virgin Money for my property in Dalton in Furness. Conveyancing was finalised 12 months ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Virgin Money?
You must advise Virgin Money prior to renting your property as this is likely to be a breach of Virgin Money’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Virgin Money directly. It should not be necessary to do this via a Virgin Money conveyancing panel lawyer.
The formalities of my purchase has taken place for my property in Dalton in Furness. Conveyancing was a necessary evil but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
All lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. In most cases complaints to a lender are sorted out effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
My wife and I are close to exchanging contracts on the sale of our property in Dalton in Furness and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. A local conveyancer would know this is not the case. It does beg the question why the purchasers are using a web based conveyancing firm rather than a conveyancing solicitor in Dalton in Furness. Having lived in Dalton in Furness for 4 years we know that this is a non issue. Should we get in touch with our local Authority to seek confirmation need.
It would appear that you have a conveyancing lawyer currently acting for you. What do they say? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
I am purchasing my first flat in Dalton in Furness benefiting from help to buy. The builders refused to move on the amount so I negotiated £7000 of extras instead. The property agent suggested that I not reveal to my conveyancer about this deal as it may adversely affect my mortgage 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 have been on the look out for a flat up to £235,500 and found one close by in Dalton in Furness I like with amenity areas and transport links in the vicinity, the downside is that it's only got 51 remaining years left on the lease. There is not much else in Dalton in Furness in this price bracket, so just wondered if I would be making a grave error buying a short lease?
If you need a home loan the shortness of the lease will likely be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.