Can the conveyancing solicitors that you recommend handle right to buy conveyancing in Riding Mill?
We work with numerous conveyancing practitioners who can handle right to buy conveyancing Please get in touch with us with a view to get a costs illustration.
The formalities of my purchase has taken place for my property in Riding Mill. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Almost all lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. Ordinarily complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
I am due to exchange contracts on my house. I had a double glazing fitted in July 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Co-operative are being problematic. The Riding Mill solicitor who is on the Co-operative conveyancing panel is recommending indemnity insurance as a solution but Co-operative are insisting on a building regulation certificate. Why do Co-operative have a conveyancing panel if they don't accept advice from them?
It is probably the case that Co-operative have referred the matter to their valuer. The reason why Co-operative may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Kent Reliance have agreed my home loan in principle, my offer on a flat in Riding Mill has been accepted, what happens next?
The property agent will want to know who your solicitors are (make sure the property lawyers are on the lender’s approved list). Telephone Kent Reliance or the broker and complete any relevant documentation. Kent Reliance will appoint a valuer who will get in touch with the estate agent or vendor to arrange a slot for the valuation to take place. Once carried out (assuming no problems) it takes approximately a week to receive the mortgage offer. Kent Reliance will send the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Riding Mill.
I'm buying my first flat in Riding Mill with a loan from The Mortgage Works. The builders refused to reduce the amount so I negotiated 6k of fixtures and fittings instead. The sale representative advised me not to tell my solicitor about the side-deal as it would impact my mortgage with the lender. Should I keep quiet?.
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 ground for flat up to £305k and found one close by in Riding Mill I like with amenity areas and railway links in the vicinity, the downside is that it only has 52 years on the lease. I can't really find anything else in Riding Mill 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 be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
Are there frequently found deficiencies that you come across in leases for Riding Mill properties?
Leasehold conveyancing in Riding Mill is not unique. All leases are drafted differently and legal mistakes in the legal wording can result in certain provisions are not included. The following missing provisions could result in a defective lease:
Clauses dealing with recovering service charges for expenditure on the building or common parts. Service charge per centages that don't add up correctly leaving a shortfall
You could encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, The Royal Bank of Scotland, and Aldermore all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to pull out.
I inherited a studio flat in Riding Mill, conveyancing having been completed September 2008. 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? Equivalent flats in Riding Mill with an extended lease are worth £185,000. The ground rent is £65 per annum. The lease ends on 21st October 2080
With 61 years remaining on your lease we estimate the premium for your lease extension to be between £19,000 and £22,000 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.