We are about to sign contracts for a ground floor flat in Ryhope. We have hit a stumbling block. Our mortgage offer with TSB runs out on 21/7/2020 but the owners are putting forward a completion date of 23/7/2020. Is it possible to prolong the mortgage offer?
The person best placed to address this issue is your solicitors who will hopefully assess if they should be discussing with the mortgage company, owner’s solicitors, property agents or possibly all parties given what has gone on in your house move to date.
We are buying a newbuild flat in Ryhope with a homeloan from Lloyds TSB Bank.We like our Ryhope conveyancing solicitor but Lloyds TSB Bank says she’s not listed on their approved list of member firms. We have to appoint a Lloyds TSB Bank panel firm or retain our high street solicitor and fork out for one of their panel ones to act for them. This seems very unfair; is there anything we can do?
No, not really. The home loan offered to you is subject to its various provisions, a common one being that lawyers will be on the Lloyds TSB Bank solicitor panel. in the past, most mortgage companies had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Lloyds TSB Bank
The formalities of my purchase has taken place for my property in Ryhope. Conveyancing was satisfactory but I would like to complain about the lender. How do I make a complaint?
All banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. Ordinarily complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
I can not fathom if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Ryhope building society branch on a couple of occasions and was reassured it wasn't a problem and they will lend. My Ryhope conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they would not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
The solicitor has to comply with the CML Handbook Part 2 specifications for your lender. Unless your lawyer obtains specific confirmation in writing that the lender 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am selling my house. I had a double glazing fitted in November 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Skipton are being pedantic. The Ryhope solicitor who is on the Skipton conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Skipton are insisting on a building regulation certificate. Why do Skipton have a conveyancing panel if they don't accept advice from them?
It is probably the case that Skipton have referred the matter to their valuer. The reason why Skipton 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.
Is it best to appoint a Ryhope conveyancing solicitor who is local to the property I am buying? We have a good friend who can execute the conveyancing but his firm is located 200kilometers drive away.
The primary upside of using a high street Ryhope conveyancing firm is that you can attend the office to execute documents, hand in your ID and pester them if necessary. They will also have local intelligence which is a plus. That being said nothing is more important than finding someone that will pull out all the stops for you. If if people you trust instructed your friend and on the whole were happy that should trump using an unfamiliar Ryhope conveyancing solicitor solely due to them being based in the area.
I've recently bought a leasehold flat in Ryhope. Am I liable to pay service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Leasehold Conveyancing in Ryhope - Sample of Questions you should ask before buying
Be sure to enquire if there is anything that is prohibited in the lease. By way of example it is very common in Ryhope leases that pets are not permitted in in a block in Ryhope. If you like the apartmentin Ryhope but your cat is not allowed to move with you then you will be presented with a hard determination. You will want to discover as much as possible concerning the company managing the block as they will affect your use and enjoyment of the property. Being a leasehold owner you are frequently in the clutches of the managing agents from a financial perspective and when it comes to daily issues like the cleanliness of the communal areas. Don't be shy to ask other tenants what they think of their service. In conclusion, find out the dates that the maintenance charges are due to the appropriate party and specifically what you get for your money. How many years remain on the lease?