How do I identify cost effective conveyancing in Cottenham?
Option 1 is to ask your friends and family who they used in the past and if they were happy with the service.
Option 2 is to use a comparison service on the web for conveyancing in Cottenham. Ring two or three from the list and invite them to forward you their conveyancing charges and speak to the lawyer who will conduct the conveyancing prior tocommitting.
Option 3 is to use this site to help you find the right lawyers taking into account your unique requirements including the type of property,speed, complications and who your intended mortgage company is. Resist the temptation to opt for low cost conveyancing in Cottenham
My husband and I changing mortgage lender for our maisonette in Cottenham with Principality. We have a son 19 who lives with us. Our solicitor requested us to identify any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the flat is repossessed. I have a couple of questions (1) Is this form unique to the Principality conveyancing panel as he did not need to sign this form when we purchased 3 years ago (2) Does our son by signing this extinguish his entitlement to inherit the property?
First, rest assured that your Principality conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Principality. This is solely used to protect Principality if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Principality had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I am about to put a bid on a leasehold flat in Cottenham. The estate agents assure me that it is standard for flats in Cottenham to have less than 75 years left on the lease. I am obtaining a loan with Bank of Ireland. Is this going to be acceptable if the lease has 70 years to go.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 25/7/2021 the requirements read as follows :
I am the only recipient of my late mum's will and I have everything in my name alone, including the house in Cottenham. The Cottenham property was put into my name in June. I want to move. I do know about the Mortgage Lenders six month 'rule', meaning my proprietorship will be treated the same way as if I'd bought the property in June. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be impacted by that. How practical a view lenders take of it, depend on the lender as this obligation is chiefly there to identify the purchase and immediately sell or the wholesaling and assigning of properties.
I am selling my apartment. I had a double glazing fitted in April 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Yorkshire BS are being pedantic. The Cottenham solicitor who is on the Yorkshire BS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Yorkshire BS are insisting on a building regulation certificate. Why do Yorkshire BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Yorkshire BS have referred the matter to their valuer. The reason why Yorkshire BS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I've read lots of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Cottenham solicitor - who is on the RBS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
RBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually RBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Cottenham postcode. As you are getting a mortgage with RBS, you could contact them to see if they have a list of approved surveyors in Cottenham.
How does conveyancing in Cottenham differ for newly converted properties?
Most buyers of new build residence in Cottenham come to us having been asked by the builder to exchange contracts and commit to the purchase even before the property is ready to move into. This is because house builders in Cottenham usually purchase 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 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 accustomed to new build conveyancing in Cottenham or who has acted in the same development.