Can conveyancing in Cambridgeshire to be finalised inside two weeks?
First, If the seller is applying pressure to complete it is highly recommended that your solicitor is familiar with the location as they will have local connections and insight. It is even conceivable that they would have transacted previousproperties in the same neighbourhood. You would be best advised to use a Cambridgeshire conveyancing lawyer. Second, be sure that the lawyer is on the on the approved list for your mortgage company. It is estimated that just under twenty per cent of Cambridgeshire conveyancing transactions are held up or derailed after finding out that a purchaser’s solicitor was not on their mortgage lender’s panel. In many cases this discovery resulted in the legal transfer of property being held up by almost three weeks. It is said that this issue impacts in the region of one hundred thousand home moves every year. Almost all Cambridgeshire conveyancing practices can not represent certain banks so do check at the outset.
As someone unfamiliar with the Cambridgeshire conveyancing process what’s the number one tip you can give me concerning the legal transfer of property in Cambridgeshire
You may not hear this from too many lawyers but conveyancing in Cambridgeshire and elsewhere in England and Wales is often a confrontational process. In other words, when it comes to conveyancing there exists lots of opportunity for conflict between you and others involved in the house moving process. E.g., the seller, selling agent and sometimes a bank. Selecting a law firm for your conveyancing in Cambridgeshire an important selection as your conveyancer is your adviser, and is the ONLY party in the legal process whose role it is to look after your best interests and to keep you safe.
Every so often a potential adversary may attempt to persuade you that you should follow their advice. For example, the selling agent may claim to be helping by suggesting your solicitor is wrong. Or your financial adviser may advise you to do take action that is against your lawyers advice. You should always trust your lawyer above all other parties in the conveyancing process.
My wife and I are purchasing a apartment in Cambridgeshire. I might seem paranoid but how we can trust a solicitor? At some point we have to put funds into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
What is your number one tip for choosing a conveyancing solicitor in Cambridgeshire
Do not opt for the lowest Cambridgeshire conveyancing quote. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
Two weeks ago we had a mortgage agreed in principle with Bank of Ireland. Cambridgeshire conveyancing solicitors were instructed. What is the average time that one could expect to receive a mortgage offer from Bank of Ireland?
There is no definitive answer here. Have Bank of Ireland conducted the survey? Have you informed Bank of Ireland as to your lawyers' details and checked that your lawyers are on the Bank of Ireland conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I completed on my house on 11 May and my personal details is yet to be registered. Should I be concerned? My conveyancing solicitor in Cambridgeshire advises it should be registered in a couple of weeks. Are transfers in Cambridgeshire particularly slow to register?
As far as conveyancing in Cambridgeshire registration is no quicker or slower than the rest of the country. As opposed to being determined by geographic area, timescales can vary according to who lodges the application, whether it is in order and whether the Land registry need to notify any 3rd persons or bodies. As of today in the region of three quarters of submission are fully addressed in less than three weeks but some can be subject to longer hold-ups. Historically registration takes place once the new owner has moved in to the property therefore 'speed' is not usually top priority yet where there is a degree of urgency associated with the registration then you or your solicitor could speak with the land registry and explain the circumstances.
Having had my offer accepted I require leasehold conveyancing in Cambridgeshire. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and 99.9% are in Cambridgeshire - then the leasehold title will always include the short particulars 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 acquired a leasehold flat in Cambridgeshire, conveyancing having been completed in 2007. Can you work out an approximate cost of a lease extension? Corresponding flats in Cambridgeshire with an extended lease are worth £179,000. The average or mid-range amount of ground rent is £65 levied per year. The lease expires on 21st October 2079
You have 57 years unexpired we estimate the premium for your lease extension to be between £26,600 and £30,800 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.