I am hoping to receive a mortgage with Santander. I intend to employ the services of a Licensed Conveyancer in Cottenham Park. Does the Santander Conveyancing panel allow for Licensed Conveyancers?
The Santander conveyancing panel is, like many other lenders, represented by the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the CLC.
I have given 2 months notice to my existing landlord and have to leave my rented flat in Cottenham Park by the end of next month. Conveyancing for my house purchase has just started. Can I complete in a couple of weeks as don't want to have to find temporary accommodation?
It is unwise to give notice for your lease until you have exchanged. If you have not previously done so, contact to your lawyer and ask them to they cajole the other side, try to an acceptable time-line that everyone will aim towards
Can you explain why leasehold purchase conveyancing in Cottenham Park is more expensive?
In summary, leasehold conveyancing in Cottenham Park and elsewhere usually involve additional work compared to freehold transactions. This includes lease investigation, corresponding with the landlord about serving applicable notices, obtaining current service charge and management information, procuring the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different leaseholders have owned the lease since it was first granted.
Should my conveyancer be making enquiries concerning flooding during the conveyancing in Cottenham Park.
The risk of flooding is if increasing concern for solicitors specialising in conveyancing in Cottenham Park. There are those who purchase a property in Cottenham Park, fully expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not best placed to offer advice on flood risk, however there are a various searches that may be carried out by the purchaser or by their conveyancers which will give them a better appreciation of the risks in Cottenham Park. The conventional set of property information forms given to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard inquiry of the owner to determine if the property has suffered from flooding. If the residence has been flooded in past which is not notified by the vendor, then a purchaser may bring a compensation claim as a result of such an inaccurate reply. A purchaser’s conveyancers should also carry out an environmental search. This should reveal whether there is any known flood risk. If so, more detailed investigations should be initiated.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one near me in Cottenham Park I like with a park and station nearby, the downside is that it's only got 52 years unexpired on the lease. I can't really find anything else in Cottenham Park in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a home loan the remaining unexpired lease term will likely be a potential deal breaker. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least twenty four months you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.