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

If you are buying a property in Cottenham Park your solicitor will request that you place them with monies to cover the the cost of the conveyancing searches. Normally this is asked for to cover the fees of the Local Authority Search. When the down payment is payable against the total price then this should be asked for shortly ahead of exchange of contracts. The final balance that is due will be payable a few days prior to the day of completion.

I am buying a new build flat in Cottenham Park. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.

Here are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Cottenham Park

Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Please confirm the Lease plans are architect prepared. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?

Due to the advice of my in-laws I had a survey completed on a house in Cottenham Park prior to retaining conveyancers. I have been told that there is a flying freehold aspect to the property. Our surveyor advised that some banks may refuse to issue a mortgage on a flying freehold house.

It varies from the lender to lender. HSBC has different instructions for example to Halifax. If you call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Cottenham Park. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Cottenham Park to see if the conveyancing costs will increase in light of this.

What are your top tips when it comes to choosing a Cottenham Park conveyancing firm to deal with our lease extension?

When appointing a property lawyer for your lease extension (regardless if they are a Cottenham Park conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Cottenham Park conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be useful:

How familiar is the practice with lease extension legislation? Can they put you in touch with clients in Cottenham Park who can give a testimonial?

Cottenham Park Leasehold Conveyancing - Examples of Queries before Purchasing

Is there a share of the freehold? You should want to find out as much as you can about the managing agents as they can either make living at the property much simpler or uncomfortable. As the proprietor of a leasehold property you are often in the clutches of the managing agents from a financial perspective and when it comes to every day issues such as the upkeep of the communal areas. Enquire of prospective neighbours whether they are happy with them. On a final note, investigate as to the dates that you are obliged pay the maintenance charge to the relevant party and precisely what it includes. Is anyone aware of any major works in the near future that could add a premium to the maintenance fees?

Why can I not complete our conveyancing in Cottenham Park on Easter Monday?

Because on completion the money needs to be transferred electronically between the banks of the buyer and owner’s conveyancer and currently this can only happen on a business day. So you can't complete on a saturday or sunday either.