My partner and I have just acquired a property in Winslow. We have since encountered a number of issues with the house which we consider were overlooked in the conveyancing searches. Is there anything we can do? What searches should? have been ordered as part of conveyancing in Winslow?
The question is vague as to the nature of the problems and if they are specific to conveyancing in Winslow. Conveyancing searches and investigations initiated during the buying process are carried out to help avoid problems. As part of the legal transfer of property, a seller completes a questionnaire referred to as a SPIF. If the information ends up being incorrect, you may have a misrepresentation claim against the seller for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Winslow.
Two weeks ago we had a mortgage agreed in principle with Clydesdale. Winslow conveyancing solicitors were instructed. How long does it take for Clydesdale to forward the offer to the lawyer?
Some lenders take longer than others. Have Clydesdale conducted the survey? Have you advised Clydesdale as to your lawyers' details and checked that your lawyers are on the Clydesdale conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have a mortgage with Leeds Building Society for my property in Winslow. Conveyancing was finalised months ago. Should I wish 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 Leeds Building Society?
You must advise Leeds Building Society before renting your property as this is likely to be a breach of Leeds Building Society’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 Leeds Building Society directly. You need not do this via a Leeds Building Society conveyancing panel solicitor.
Clydesdale have agreed my home loan in principle, my offer on a house in Winslow has been agreed to, what are the next steps?
Your estate agent will want to know who your solicitors are (ensure that the lawyers are on the lender’s approved list). Contact Clydesdale or your financial adviser and finalise any relevant documentation. Clydesdale will appoint a valuer who will get in contact with the selling agent or vendor to book an appointment. Once carried out (assuming no problems) it takes on average a fortnight to receive the mortgage offer. Clydesdale will send the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Winslow.
I am purchasing a new build house in Winslow benefiting from help to buy. The builders refused to move on the price so I negotiated 6k of fixtures and fittings instead. The house builders rep suggested that I not inform my lawyer about this deal as it would put at risk my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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 am looking into buying my first house which is in Winslow and I am already nervous. I couldn't find anything specific about Winslow. Conveyancing will be needed in due course but do you know about the Winslow area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Winslow. In the meantime here are some basic statistics that we found
I work for a reputable estate agent office in Winslow where we see a number of leasehold sales put at risk due to short leases. I have received contradictory information from local Winslow conveyancing solicitors. Can you confirm whether the owner of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Winslow Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to Purchasing
Is anyone aware of any major works anticipated that will likely add a premium to the maintenance charges? Does the lease have onerous restrictions? Are any of leasehold owners in arrears of their service charge payments?