Should conveyancers ask for an advanced payment for my conveyancing in Cottenham Park?
Where you are retaining lawyers for conveyancing in Cottenham Park your lawyer will ask you put them with monies to cover the search fees. This will be the total of the cost of the conveyancing searches. When the down payment is as part of the sale price then this will be needed shortly ahead of exchange of contracts. The closing balance that is due should be sent to your lawyer a couple of days prior to the completion date.
When it comes to lenders such as Yorkshire BS, do Cottenham Park conveyancing practitioners have to pay a yearly amount to be on the list of approved solicitors?
We are unaware of any mortgage company fees to register on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
I have paid off my mortgage with Principality. I assume I don't need a Cottenham Park property lawyer on the Principality panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Principality mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Principality mortgage from the register. Principality, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Principality has sent the Land Registry the discharge electronically, and
- Principality has instructed the Land Registry to do so
Clydesdale have agreed my home loan in principle, my bid on a flat in Cottenham Park has been accepted, what are the next steps?
The estate agent will need to be informed of your property lawyer's details (ensure that the conveyancing practitioners are on the bank’s panel). Contact Clydesdale or the broker and finalise any outstanding forms. Clydesdale will instruct a valuer who will get in contact with the estate agent or owners to schedule a time for the valuation to take place. Once carried out (assuming no problems) it takes on average a week for the mortgage offer to be issued. Clydesdale will issue the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Cottenham Park.
I'm purchasing a new build house in Cottenham Park benefiting from help to buy. The builders refused to move on the price so I negotiated five thousand pounds worth of additionals instead. The estate agent suggested that I not inform my conveyancer about this deal as it would adversely affect my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
In my capacity as executor for the estate of my father I am selling a residence in Swansea but reside in Cottenham Park. My solicitor (approximately 235 kilometers awayneeds me to sign a stat dec ahead of the transaction finalising. Can you recommend a conveyancing lawyer in Cottenham Park who can witness this legal document for me?
strictly speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or solicitor will do regardless of whether they are located in Cottenham Park
My wife and I purchased a leasehold flat in Cottenham Park. Conveyancing and Clydesdale mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Cottenham Park who previously acted has long since retired. Any advice?
The first thing you should do is contact HMLR to make sure that this person is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Cottenham Park conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I bought a basement flat in Cottenham Park, conveyancing having been completed May 2004. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Cottenham Park with a long lease are worth £201,000. The ground rent is £45 invoiced annually. The lease ceases on 21st October 2089
With 64 years remaining on your lease we estimate the premium for your lease extension to be between £14,300 and £16,400 as well as professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.