We are soon to exchange on the purchase of a house in Yateley but as a consequence of wreckage from the recent storms I have managed to agree reparation from the seller in the sum of £3k taking the form of a adjustment in the price. I had intended this to be addressed as part of the conveyancing process but Co-operative will not agree to this. Should they have been involved?
Any conveyancing practitioner that is on a Co-operative approved list is duty bound to disclose to Co-operative of any amendments to the purchase price. If you prohibit your solicitor to notify the reduction to Co-operative then they would have to discontinue acting for you. In addition, Co-operative and you would have to appoint a new conveyancer for your conveyancing in Yateley.
About to place an offer on a leasehold apartment in Yateley. The selling agents advise that it is the norm for flats in Yateley to have less than 75 years unexpired on the lease. I am expecting a mortgage with Tesco Bank. Will the property be mortgageable given that the lease has 70 years to go.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 28/9/2022 the requirements read as follows :
We have agreed to purchase a house in Yateley. 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?
Given that your lender is TSB your lawyer must follow the conveyancing requirements contained in Part 2 of UK Finance Lenders’ Handbook for TSB. The Council of Mortgage Lenders’ Handbook sets out minimum conditions for solar panel roof-space leases, and property lawyers are required to report to TSB where a lease does not satisfy these conditions. The conditions relate to the installation of panels on properties in England and Wales and is not limited to Yateley.
The formalities of my remortgage has taken place for my property in Yateley. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
Most lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Department at head office. In most cases complaints to a lender are sorted out effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I am selling my house. I had a double glazing fitted in June 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Yorkshire BS are being a right pain. The Yateley solicitor who is on the Yorkshire BS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Yorkshire BS are requiring a building regulation certificate. Why do Yorkshire BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Yorkshire BS have referred the matter to their valuer. The reason why Yorkshire BS 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.
I'm buying a new build house in Yateley with a loan from Barclays . The sellers refused to reduce the amount so I negotiated £7000 of fixtures and fittings instead. The house builders rep suggested that I not disclose to my lawyer about this side-deal as it will jeopardize 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.
I need to retain a conveyancing solicitor for sale conveyancing in Yateley. I happened to discover a site which seems to have the ideal offering If there is a chance to get all the legals completed via web that would be ideal. Should I 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?
I am on look out for some leasehold conveyancing in Yateley. Before I get started I require certainty as to the remaining lease term.
Assuming the lease is recorded at the land registry - and most are in Yateley - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I own a split level flat in Yateley, conveyancing formalities finalised in 2012. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Yateley with over 90 years remaining are worth £227,000. The ground rent is £50 charged once a year. The lease runs out on 21st October 2094
You have 72 years remaining on your lease we estimate the price of your lease extension to span between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.