At what point can the exchange of contracts happen for domestic conveyancing in Comberton and do I need to attend the solicitors office?

If you are local to our conveyancing solicitors in Comberton you are welcome to come in to sign contracts. That being said, the firms we work with provide a national conveyancing service and provide just as comprehensive and professional a job for you when communicating with you by post or email. The executing of the contract is not the point of no return. A signed contract is just a prerequisite for the conveyancer to officially exchange when the time is right, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where a long "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Comberton)to be in the office available at the end of the phone to exchange contracts.

My grandfather passed away last year and as sole heir and executor I was left the property in Comberton. The house had a relatively small loan left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Principality, pay off the mortgage. Is this allowed?

Given you plan to re-mortgage then Principality will insist on your using a conveyancer on the Principality conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Principality conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Principality mortgage is registered as a charge at the Land Registry.

Yesterday I discovered that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a simple, no chain conveyancing. Comberton is the location of the property. What do you suggest?

Flying freeholds in Comberton 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 Comberton you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Comberton may determine 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 premises.

I am a negotiator for a long established estate agent office in Comberton where we have experienced a number of leasehold sales jeopardised due to leases having less than 80 years remaining. I have received contradictory information from local Comberton conveyancing firms. Please can you clarify whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

I purchased a ground floor flat in Comberton, conveyancing was carried out June 1997. How much will my lease extension cost? Equivalent properties in Comberton with an extended lease are worth £201,000. The ground rent is £45 charged once a year. The lease expires on 21st October 2090

You have 65 years remaining on your lease we estimate the price of your lease extension to range between £13,300 and £15,400 as well as professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.

Our sealed bid on property in Comberton has been accepted, but there is a chain. The vendors have offered on a property, but it’s not yet agreed to, and has viewings of other flats booked. I have selected a local conveyancing lawyer in Comberton. What should be my next step? At what stage should I apply for the mortgage with Skipton?

It is usual to have apprehensions where there is an associated chain given your reluctance to be too out of pocket prematurely (mortgage application is approx £1k, then survey, Comberton conveyancing search fees, etc). First, you must check that your property lawyer is on the Skipton approved list. Regarding the next phase this very much dictated by the specifics of your transaction, desire for the property and on the state of the market. In a hot market many purchasers would apply for the mortgage with Skipton and pay for the valuation and only if it was satisfactory would they request their conveyancing practitioner to move forward with the conveyancing in Comberton.