Am I correct in assuming that the fact that my solicitor in Cookham is not identified on my lender's conveyancing panel that there is a problem with the standard of the firm’s conveyancing?
That is most likely an incorrect assumption to make. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the Cookham conveyancing firm and enquire why they are no longer on the approved list for your lender.
I own a freehold premises in Cookham but still pay rent, why is this and what is this?
It is rare for properties in Cookham and has limited impact for conveyancing in Cookham but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
How does conveyancing in Cookham differ for new build properties?
Most buyers of new build residence in Cookham come to us having been asked by the builder to sign contracts and commit to the purchase even before the house is built. This is because new home sellers in Cookham typically buy the real estate, 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 property lawyers 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 accustomed to new build conveyancing in Cookham or who has acted in the same development.
I decided to have a survey done on a house in Cookham ahead of appointing solicitors. I have been told that there is a flying freehold aspect to the house. Our surveyor has said that some banks will not grant a mortgage on this type of house.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Halifax. If you call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Cookham. Conveyancing may be slightly more expensive based on your lender's requirements.
There are a number of houses in Cookham on unadopted lanes. We are buying such a house. What are the pros and cons of purchasing a house on a private road?
Cookham conveyancing practices will be used to conveyancing propertieson private. The conveyancer will investigate title to find any rights or liabilities. In many cases there is a management company (wholly owned by residents) that owners pay into for the upkeep of the road. Where there is one, the road will likely be maintained and look better than publicly adopted.