Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Lytham St Annes. My lender is Tesco Bank
Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 14/4/2024, the requirements read as follows :
Completion of my remortgage has taken place for my property in Lytham St Annes. Conveyancing was satisfactory but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. Ordinarily 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, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
I can not fathom if my bank requires a lease extension. I have telephoned my Lytham St Annes bank branch on a couple of occasions and was advised it wasn't an issue and they would lend. My Lytham St Annes conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they will not lend based on their published requirements. I simply don't know who is right.
Your solicitor must comply with the CML Handbook section two specifications for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company 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 bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
About to purchase maisonette in Lytham St Annes. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Skipton 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 Lytham St Annes solicitor is on the Skipton conveyancing panel.
I need some expedited conveyancing in Lytham St Annes as I have a deadline to complete inside one month. Thankfully I do not require a mortgage. Can I escape the need for conveyancing searches to save money and time?
If.Given you are not obtaining a mortgage you have the choice not to have searches carried out although no solicitor would suggest that you don't. With plenty of history conveyancing in Lytham St Annes the following are examples of what can be revealed and adversely impact future saleability: Enforcement Notices, Overdue Charges, Outstanding Grants, Road Schemes,...
We're FTB’s - agreed a price, yet the estate agent informed us that the owners will only go ahead if we instruct their chosen solicitors as they want an ‘expedited deal’. Our preferred option is to instruct a high street conveyancer who is accustomed to conveyancing in Lytham St Annes
We suspect that the owner is unaware of this request. If they want ‘a quick sale', turning down a genuine purchaser is going to damage their objectives. Speak to the vendors direct and explain that (a)you are keen to buy (b)you are ready to go, with finances in place © you are chain free (d) you intend to proceed fast (e)but you are going to use your own,trusted Lytham St Annes conveyancing firm - rather thanthe ones that will earn the estate agent a introducer fee or achieve conveyancing targets set by senior management.
I own a leasehold flat in Lytham St Annes. Conveyancing was completed in 2009. I have read on various advice forums that I mustn’t allow the the remaining lease term to fall too low. Is this right?
Lytham St Annes leasehold properties are for a fixed period - normally just under one hundred years when they are first granted. However many flats in Lytham St Annes were built or converted in the 60’s and so these leases now have under 80 years unexpired. This may sound like plenty of time but Banks, Building Societies and other mortgage institutions generally require leases to have at least 75 years unexpired to be mortgageable. Accordingly when you come to sell the property you will need a lease extension if you are approaching 75 years. To maximise the saleability of your property you should be thinking about whether or not to extend your lease well in advance of selling the property. There are also advantages to doing so before the lease hits eighty years as when the lease is less than 80 years the premium you have to pay to extend starts to escalate.