Is it the case that all Headington CQS (Conveyancing Quality Scheme) solicitors are on the Co-operative conveyancing list of approved firms?
Some major banks and building societies now make use of the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.
I currently have a mortgage with Principality for my property in Headington. Conveyancing was finalised months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Principality?
Your original mortgage agreement with Principality will provide that you need their approval in advance of renting your property as this is likely to be a breach of Principality’s mortgage conditions. It may be that Principality will permit you to let 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 Principality directly. You need not do this via a Principality conveyancing panel lawyer.
Completion of my remortgage has taken place for my property in Headington. Conveyancing was of an acceptable standard 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 Team at head office. We understand that complaints to a lender are resolved effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
five months have elapsed following my purchase conveyancing in Headington completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am looking for a flat up to £245,000 and found one near me in Headington I like with open areas and railway links nearby, however it's only got 51 years unexpired on the lease. There is not much else in Headington for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a home loan the remaining unexpired lease term may be a potential deal breaker. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
Completion is due on our sale of a £225,000 garden flat in Headington in seven days. The managing agents has quoted £408 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Headington?
Headington conveyancing on leasehold flats nine out of ten times results in administration charges invoiced by freeholders :
Completing pre-exchange enquiries
Where consent is required before sale in Headington
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Headington Leasehold Conveyancing - A selection of Questions you should consider Prior to Purchasing
How many of the leaseholders are in arrears for their service charge payments? It would be wise to investigate if the the lease contains any onerous restrictions in the lease. For example it is very common in Headington leases that pets are not allowed in certain buildings in Headington. If you like the propertyin Headington yet your cat can’t live with you then you have a very difficult compromise. Who manages the block?
I am purchasing a garden maisonette in Headington. Conveyancing lawyer has been waiting for, from the seller, building insurance schedule. This morning I was advised that the owner needs to forward the insurance schedule for the flat above as well. Why does my property lawyer need to review the insurance for the other flat? Is it really required? We have been stalled for the last fortnight…
It is not unheard of in leasehold conveyancing in Headington to discover Conveyancing in Headington in a minority of cases reveals that the lease obliges the leasehold owners to insure their individual flats as opposed to the landlord insuring the whole block - which is definitely preferable. You should double check with your solicitor but it would appear that your conveyancing practitioner is looking to verify that the whole building is insured. Insuring your flat is no help when it comes to rebuilding after a fire if the 1st floor cannot be rebuilt for lack of insurance.