Is there a reason why leasehold purchase conveyancing in Cambourne is more expensive?
In summary, leasehold conveyancing in Cambourne and elsewhere usually requires extra due diligence compared to freehold conveyancing. This includes reviewing the lease, communicating with the landlord concerning the service of appropriate notices, obtaining up-to-date service charge and management information, securing the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first granted.
My property lawyer in Cambourne is not on the The Mortgage Works Solicitor Panel. Can I still use my family solicitor even though they are not on the The Mortgage Works panel of approved conveyancing solicitors?
Your options are as follows:
- Complete the purchase with your preferred Cambourne solicitors but The Mortgage Works will need to use a conveyancer on their list of acceptable firms. This will inevitably rack up the overall legal fees and result in delays.
- Choose a new lawyer to act in the conveyancing, obviously checking they are on the The Mortgage Works panel
Are all Cambourne Conveyancing Quality Solicitors on the Bank of Ireland conveyancing list of approved firms?
It is true that some banks and building societies now utilise the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of firms.
I had an offer accepted on an apartment in Cambourne on 4/6/2021, valuation was booked 4 days later, all came back fine. Conveyancer instructed, so the only thing outstanding was my mortgage offer. Having made daily calls to HSBC and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the HSBC conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for HSBC to deal with your lawyer's application to be on the HSBC conveyancing panel. There's no guarantee that your solicitor will be accepted.
I have instructed a Cambourne conveyancer having made sure that they are on the Barclays conveyancing panel. Does my lawyer arrange the survey of the property?
Barclays will need an independent valuation of the property. Your lawyer will not arrange this. Usually Barclays will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Cambourne postcode. As you are getting a mortgage with Barclays, you could contact them to see if they have a list of approved surveyors in Cambourne.
I've recently found out that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a quick, no chain conveyancing. Cambourne is the location of the property. Can you offer any opinion?
Flying freeholds in Cambourne are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Cambourne you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cambourne may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I'm buying a bungalow in Cambourne. I have found my conveyancer's company on the CLC list, but I can't locate my lawyer's name as listed on the regulator's website. Should I be concerned?
Not all staff in the practice must be listed by the regulator. Provided there is a manager qualified to 'oversee' the conveyancing, the actual day-to-day activity can be conducted by unqualified staff.