Why do I have to pay up front for conveyancing in Cottenham Park?

Where you are retaining lawyers for conveyancing in Cottenham Park your lawyer will ask you place them with monies to cover the the cost of the conveyancing searches. Ordinarily this is called for to cover the fees of the Local Authority Search. If any deposit is as part of the total price then this should be asked for shortly in advance of exchange of contracts. Any further balance that is due should be transferred shortly before completion.

This question may be naive but I am unseasoned as FTB of a two bedroom flat in Cottenham Park. Do I collect the keys to the property on completion from my conveyancer? If this is the case, I will use a local conveyancing solicitor in Cottenham Park?

On the day of completion you do not need to go to the conveyancers office in Cottenham Park. Your solicitors will transfer the completion advance to the owner’s solicitors, and shortly after the monies have arrived, you should be called to receive the keys from the Estate Agents and move into your new home. Usually this happens between 1 and 3pm.

Is it the case that all Cottenham Park conveyancing solicitors on the Nationwide conveyancing panel are overseen by the Solicitors Regulatory Authority?

As solicitors, in order to be on the Nationwide approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. Some lenders do list licenced conveyancers on their panel and in that case the firms would be governed by the CLC.

We are getting the release of further funds on our mortgage from Virgin Money as we want to carry out improvements to our property in Cottenham Park. Do we need to select a nearby Cottenham Park solicitor on the Virgin Money conveyancing panel to handle the legals?

Virgin Money do not ordinarily instruct firms on their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Virgin Money list.

I purchased a 4 bedroom Edwardian house in Cottenham Park. Conveyancing solicitor represented me and Britannia. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, the second leasehold with the matching property. If a house is not a freehold shouldn't I have been informed?

You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Cottenham Park and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the situation with the conveyancing lawyer who carried out the work.

I've found a house that seems to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have just been informed that the title is leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Cottenham Park. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Cottenham Park ?

The majority of houses in Cottenham Park are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Cottenham Park in which case you should be looking for a Cottenham Park conveyancing practitioner and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’spermission to carry out alterations. You may also be required to pay a contribution towards the upkeep of the estate where the property is part of an estate. Your solicitor should advise you fully on all the issues.

Cottenham Park Conveyancing for Leasehold Flats - Sample of Questions you should consider before buying

Its a good idea to discover as much as you can concerning the company managing the building as they will impact your use and enjoyment of the property. Being a leasehold owner you are often at the mercy of the managing agents from a financial perspective and when it comes to daily matters like the upkeep of the communal areas. Ask other people if they are happy with them. On a final note, find out the dates that you are obliged pay the service charge to the relevant party and specifically what you get for your money. Are any of leasehold owners in dispute over their service charge payments? It is important to be aware whether fixing the lift or some other major work is due shortly that will be shared between the leaseholders and could well materially impact the level of the maintenance charges or require a one off invoice.

Can you recommend a property lawyer for buying a house? Ideally someone in Cottenham Park, who will contact me via email - not someone who insists on slow mail or fax.

LenderPanel.com is limited to being a directory service for conveyancing practitioners who want to be listed as being on the approved conveyancing panel for Aldermore in certain areas for example Cottenham Park . We dont recommend any specific solicitor.