Forgive me if this question is silly but I am wet behind the ears as FTB of a garden flat in Woodhouse Eaves. Do I pick up the keys to the premises on completion from my conveyancer? If this is the case, I will instruct a High Street conveyancing solicitor in Woodhouse Eaves?
On the day of completion you do not need to go to the conveyancers office in Woodhouse Eaves. Your solicitors will electronically transfer the completion advance to the vendor’s solicitors, and shortly after the monies have arrived, you will be able to collect the keys from the selling Agents and start moving into the property. Usually this happens between 1 and 3pm.
I am purchasing a property in Woodhouse Eaves. One unusual aspect is that the roof has a solar panel. Nottingham have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Nottingham your lawyer must check the formal requirements outlined in Part two of UK Finance Lenders’ Handbook for Nottingham. The CML Handbook contains minimum provisions for solar panel roof-space leases, and lawyers are required to report to Nottingham where a lease fails to satisfy these specifications. The requirements relate to the installation of panels on properties countrywide and is not limited to Woodhouse Eaves.
I have decided to exercise my right to buy my property in Woodhouse Eaves off the council. I have a mortgage offer with HSBC. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with HSBC, you will need to appoint a solicitor on the HSBC conveyancing panel.
Are there restrictive covenants that are commonly identified during conveyancing in Woodhouse Eaves?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Woodhouse Eaves. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm buying my first flat in Woodhouse Eaves with a mortgage from Nottingham Building Society. The builders would not budge the amount so I negotiated five thousand pounds worth of extras instead. The property agent told me not inform my solicitor about this deal as it could put at risk my mortgage with the lender. Should I keep quiet?.
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.
Over the last few months I have been searching for a flat up to £305k and found one near me in Woodhouse Eaves I like with amenity areas and railway links nearby, the downside is that it only has 51 years unexpired on the lease. There is not much else in Woodhouse Eaves in this price bracket, so just wondered if I would be making a grave error buying a short lease?
If you require a home loan that many years will be problematic. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
Our bank agreed in principle to give us a mortgage. We instructed a high street conveyancer in Woodhouse Eaves two days ago. Today, our mortgage adviser called to say that the bank said that we cannot use our solicitor as they aren't on their panel. As FTB's, we did not have a clue that the lender had a say Is this allowed?
You are at liberty to instruct any conveyencer you prefer to appoint for your conveyancing in Woodhouse Eaves however if your mortgage company aren't happy with them you will have to pay an extra fee so the mortgage company can appoint their own lawyers. It may be possible your preferred conveyancing firm to get included on to the mortgage company panel. Do make the most of internet tools such as lenderpanel.com to find a conveyancing solcitor in Woodhouse Eaves on the bank panel. You can go into your local mortgage company branch in Woodhouse Eaves. They can recommend conveyancing solicitors in Woodhouse Eaves on the panel for your mortgage company.