My mortgage broker says he needs my Cambridgeshire lawyer’ panel reference for the Santander conveyancing panel. How do I find this out. I have called my local Cambridgeshire office but they have not responded to me.
Have you tried contacting your Cambridgeshire lawyer about this?. They maintain a central record lender panel numbers.
Finally the sale completed on my house in Cambridgeshire last June yet the purchaser is SMS messaging every few hours to moan that his solicitor is waiting to hear from mylawyer. What should have happened now that I have sold?
Following your disposal your lawyer should deliver the transfer documentation and all of the paperwork to the buyer’s conveyancer. Where relevant, your lawyer must also send confirmation that the legal charge in favour of the lender has been discharged to the purchasers conveyancers. There is unlikely to be post completion procedures unique to conveyancing in Cambridgeshire.
How does conveyancing in Cambridgeshire differ for new build properties?
Most buyers of new build premises in Cambridgeshire come to us having been asked by the seller to sign contracts and commit to the purchase even before the property is ready to move into. This is because developers in Cambridgeshire usually acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Cambridgeshire or who has acted in the same development.
I have been on the look out for a ground for flat up to £245,000 and identified one round the corner in Cambridgeshire I like with amenity areas and station in the vicinity, the downside is that it only has 51 remaining years left on the lease. I can't really find anything else in Cambridgeshire for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a home loan the remaining unexpired lease term may be problematic. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least twenty four months you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
My lawyers in Cambridgeshire have advised me that they can not locate my conveyancing file. At the time of my purchase I took out a mortgage with the mortgage company. Is it case that being on the bank conveyancing panel they need to have retained the file for a number of years?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the mortgage company Conveyancing Panel Terms. It might be worth you contacting the bank directly.