I am considering mortgaging my home in Cambridgeshire, does my lawyer have to be on the Lloyds Solicitor panel?
In theory, you could use a solicitor that is not on the Lloyds conveyancing panel, but Lloyds would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
Does a directory service exist listing Virgin Money panel solicitors in Cambridgeshire on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such directory service on the CML or Building Society Association websites. A small selection of lending institutions make their panel listings available online. If you are seeking to appoint a Cambridgeshire conveyancer on the Virgin Money please use our facility.
We had selected conveyancers locally in Cambridgeshire on the UBS solicitor panel. They are now charging me an additional amount for handling the UBS mortgage. Is this a supplemental conveyancing fee set by UBS?
Unfortunately, so long as it is in their Terms and Conditions or estimate then yes your solicitor can levy a fee for this. This charge is not set by UBS but by your Cambridgeshire conveyancing practitioner. Plenty of firms on the UBS panel will charge ’dealing with mortgage’ fee but plenty of firms incorporate it on their overall fee.
I have today made my last payment due on my mortgage with Kent Reliance. I assume I don't need a Cambridgeshire solicitor on the Kent Reliance panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Kent Reliance mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Kent Reliance mortgage from the register. Kent Reliance, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Kent Reliance has sent the Land Registry the discharge electronically, and
- Kent Reliance has instructed the Land Registry to do so
What will a local search tell me concerning the property I am buying in Cambridgeshire?
Cambridgeshire conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search organisations for instance PSG The local search is essential in every Cambridgeshire conveyancing purchase; that is if you don’t want any unpleasant surprises after you move into your property. The search will provide data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject headings.
We're novice buyers - agreed a price, but the selling agent has warned us that the owners will only proceed if we appoint their chosen lawyers as they want a ‘quick sale’. Our preferred option is to instruct a local solicitor used to conveyancing in Cambridgeshire
It is unlikely the owners are behind this. Should the owner want ‘a quick sale', turning down a genuine purchaser is counter productive. Bypass the agents and go straight to the sellers and explain that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)however you are going to use your preferred Cambridgeshire conveyancing solicitors - rather thanthose that will give the estate agent a referral fee or achieve conveyancing figures set by senior management.
What advice can you give us when it comes to finding a Cambridgeshire conveyancing firm to carry out our lease extension conveyancing?
When appointing a property lawyer for your lease extension (regardless if they are a Cambridgeshire conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Cambridgeshire conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be of use:
What are the charges for lease extension conveyancing? Can they put you in touch with clients in Cambridgeshire who can give a testimonial?
I bought a garden flat in Cambridgeshire, conveyancing was carried out September 1995. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Cambridgeshire with a long lease are worth £227,000. The average or mid-range amount of ground rent is £50 per annum. The lease finishes on 21st October 2090
With only 72 years remaining on your lease the likely cost is going to be between £9,500 and £11,000 plus legals.
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. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.