Fixtures and Fittings explained, and details of our Mortgage help!
Fixtures and fittings is an expression that you may encounter when moving home.
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Below we take a detailed look at Fixtures and Fittings and the legal issues surrounding them and we explore the differences between fittings and fixtures. We also take a look at what whether fixtures or fittings will be included in a property valuation for mortgage purposes. Finally, we provide details of the mortgage help Shire Direct are able to offer should you be looking at moving home.
Table of Contents:
What are Fixtures and Fittings?
The issue of fixtures and fittings included in a property sale must always be carefully defined at the outset of any negotiations. Property sales have fallen through on seemingly trivial items, including carpets, curtains, trees, kitchen equipment, and light fittings!
The Law Society issues a standard Inventory Form, and for those involved in the purchasing and selling of property, it can be very useful to know precisely how fixtures and fittings are legally dealt with. Well, precisely is probably the wrong word, as there is much discussion and conjecture over what is considered to be property, and what is a chattel / possession within that property.
In fact the vendor can exclude whatever they like from the sale, provided that they make it clear and tell you what they intend to take, including light-fittings, kitchen units, bathroom fittings, doors, carpets, curtains, and even windows! But, if the vendor removes an item without telling you, you can sue! The legal position when more closely defined tells us that if an inventory is not included then there is an implication that fixtures must be left, and fittings may be removed.
But what are classed as fixtures, and which fittings? Unfortunately, this is once again open to interpretation, but generally the following examples are accepted as being correct:
Fixtures
- Central-heating boilers, systems and radiators
- Light-fittings
- Fitted Kitchens
- Fitted Wardrobes
- Sinks, baths, lavatories and other fitted bathroom furniture
Fittings
- Curtains, and curtain rails/poles
- Carpets
- Lampshades
- TV aerials / satellite dishes
- Paintings or mirrors that are hung or screwed to a wall
- Freestanding kitchen equipment and furniture, including tables, ovens, freezers, washing machines, spin-dryers, dishwashers
However, your Solicitor will usually ensure that your interests are protected by attaching an Inventory Agreement to the sales contract. The Inventory Agreement will detail the fixtures and fittings that are to be included in the transaction. You should keep track of what is included in the purchase from the very outset, and planning in advance should ensure disappointment is avoided.
Will both fixtures and fittings be included in the valuation for mortgage purposes?
The rule of thumb here generally provides that fixtures will be included in the valuation for mortgage purposes, whereas fittings will not be eligible for mortgage funding, and must be paid for separately.
Who will ensure what fixtures and fittings will be included in the sale?
Ensuring that your interests in the acquisition of the agreed fixtures and fittings that will be included in the sale is the responsibility of your solicitor / conveyancer, although you will usually play an important part in the process by agreeing with the vendor what is to be left, and what will be taken.
If you haven't appointed a solicitor to act on your behalf, we do have panel solicitors who would be happy to act on your behalf. Furthermore we have negotiated fixed conveyancing and legal charges for our customers. One of our mortgage advisors will be more than happy to provide details for you.
Further mortgage information, help and advice?
Looking for further mortgage information, help or advice? Then please don't hesitate to contact us!
We'd love to discuss your mortgage requirements with you, and would be more than happy to discuss your available options. Naturally, we'll carefully assess your circumstances, needs, requirements and aspirations and come up with the most appropriate solution for you.
You'll find our service to be friendly yet professional, comprehensive and helpful. We pride ourselves in providing a detailed personal service from start to finish! So if you would like to discuss your requirements, naturally without obligation, a quick call to one of our mortgage advisors will quickly put you in the picture. Our lines are open up to 10.00pm everyday, and we'll be delighted to provide you with an in-principle decision - whatever your circumstances.
So get in touch today, we think you'll be glad you did! You can call us on Freephone 08000 282 281, or alternatively if you prefer, enquire online at any time!
Well that wraps up our look at Fixtures and Fittings! We hope we answered any questions you had. Don't forget there is a wealth of mortgage and property related information throughout our website, and that we're only ever a free telephone call or couple of mouse clicks away and would love to hear from you!
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For non-conforming cases (where case research and processing may be more complex due to adverse credit or unusual circumstances), a fee may be charged of up to 3% of the amount advanced, typically £1,995.
THINK CAREFULLY BEFORE
SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED
IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Adding existing debt to your mortgage will increase the repayment term and overall cost.
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