Will my conveyancing lawyers need to check that the building insurance when buying a house in Ongar. My lender is The Mortgage Works
The Mortgage Works have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 18/9/2022, the requirements read as follows :
A colleague suggested that if I am buying in Ongar I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally included in the estimate for your Ongar conveyancing searches. It is a large report of about 40 pages, listing and setting out significant information about Ongar around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Ongar Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data concerning Ongar.
The deeds to my house are lost. The solicitors who dealt with the conveyancing in Ongar 5 years ago no longer exist. What are my options?
These day there are duplicates made of almost everything, and your conveyancer should know exactly where to locate all the appropriate paperwork so you can buy or sell your house without any difficulty. If copies can’t be found, your lawyer can put in place insurance or indemnities protecting you against future claims on your property.
I'm buying a new build house in Ongar benefiting from help to buy. The developers refused to reduce the price so I negotiated 6k of extras instead. The house builders rep suggested that I not inform my lawyer about this extras as it may adversely affect my loan 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 am looking for a flat up to £245,000 and identified one round the corner in Ongar I like with open areas and railway links nearby, however it's only got 49 years on the lease. There is not much else in Ongar for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a home loan the remaining unexpired lease term may be a potential deal breaker. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
Taking into account that I am about to spend over three hundred thousand on 3 bedroom house in Ongar I wish to have a conversation with the conveyancer regarding theconveyancing before giving the go ahead to the firm. Can this be arranged?
This is something that we recommend - we would be delighted to talk to you we do not take any clients on without you first talking to the solicitor who will be doing your property ownership legalities in Ongar.There is no ‘factory style conveyancing’ - each client is unique person, not a case number. The solicitors that we put you in touch with believe that the figure you are calculated and presented to you for residential conveyancing in Ongar should be the amount on the final invoice that you are charged.