I am purchasing a property in Gotham. An unusual aspect is that the roof has a solar panel. TSB 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 TSB your lawyer must follow the formal instructions outlined in Part two of UK Finance Lenders’ Handbook for TSB. The Council of Mortgage Lenders’ Handbook includes minimum specifications for solar panel roof-space leases, and conveyancers are required to report to TSB where a lease fails to comply with these conditions. The conditions relate to the installation of panels on properties countrywide and is not limited to Gotham.
I have a mortgage with Santander for my property in Gotham. Conveyancing was finalised months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Santander?
Your original mortgage agreement with Santander will provide that you need their approval in advance of renting your property as this is likely to be a breach of Santander’s mortgage conditions. In many cases banks or building societies will permit you to let 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 Santander directly. It should not be necessary to do this via a Santander conveyancing panel solicitor.
The formalities of my purchase has taken place for my property in Gotham. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Most lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. We understand that complaints to a lender are sorted out very quickly. However if you are not satisfied that 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.
How does conveyancing in Gotham differ for new build properties?
Most buyers of new build premises in Gotham come to us having been asked by the builder to sign contracts and commit to the purchase even before the residence is completed. This is because builders in Gotham usually buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Gotham or who has acted in the same development.
I am looking for a flat up to £195,000 and found one near me in Gotham I like with open areas and station nearby, the downside is that it's only got 49 remaining years left on the lease. I can't really find anything else in Gotham for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you need a home loan that many years may be problematic. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this matter.
How can the Landlord & Tenant Act 1954 affect my business offices in Gotham and how can your lawyers assist?
The 1954 Act gives protection to business leaseholders, giving them the dueness to apply to court for a continuation of occupancy when the lease reaches an end. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and handle your commercial conveyancing in Gotham
I need to appoint a conveyancing solicitor for some conveyancing in Gotham. I have discover a site which looks to be the perfect solution If it is possible to get all this stuff done via email that would be preferable. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
We have an offer in principle from Coventry Building Society who said that they will loan up to £350k. When do we need to appoint a solicitor for conveyancing? Gotham is where we are purchasing.
It would be wise to appoint a solicitor now requesting that they create a file for you. This will enable: 1) the estate agent to send out the Sales Memo to all parties 2) the seller’s lawyer to submit the draft contract. However, do not instruct your property lawyer to order searches until you receive your valuation report from Coventry Building Society and you are content to move forward.