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Recently asked questions about conveyancing in Godmanchester

Will commercial conveyancing searches reveal proposed roadworks that may affect a commercial land in Godmanchester?

Many commercial conveyancing solicitors in Godmanchester will conduct a SiteSolutions Highways report as it reduces the time that conveyancers invest in investigating accurate data on highways that impact buildings and development assets in Godmanchester. The search result provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Godmanchester.

For each commercial conveyancing transaction in Godmanchester it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately can result in delays to Godmanchester commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not ordered for domestic conveyancing in Godmanchester.

I moved into my flat on 16 July and my personal details is yet to be on the land registry website. Should I be concerned? My conveyancing solicitor in Godmanchester said it would be formalised in less than a month. Are transfers in Godmanchester uniquely lengthy to register?

There is nothing unique about conveyancing in Godmanchester registration formalities. Rather than based on location, timescales can differ subject to who lodges the application, whether it is in order and whether the Land registry communicate with any other parties. As of today approximately 80% of such applications are completed within two weeks but some can be subject to protracted delays. Registration is effected once the purchaser has moved in to the property thus an expedited registration is not typically top priority but if there is a degree of urgency associated with the registration then you or your solicitor should communicate with the Registry to express the reasoning for an expedited registration.

How does conveyancing in Godmanchester differ for newly converted properties?

Most buyers of new build property in Godmanchester approach us having been asked by the seller to sign contracts and commit to the purchase even before the house is constructed. This is because builders in Godmanchester typically purchase the land, 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 property lawyers 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 used to new build conveyancing in Godmanchester or who has acted in the same development.

Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what was supposed to be a simple, chain free conveyancing. Godmanchester is where the house is located. Is there any guidance you can give?

Flying freeholds in Godmanchester are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Godmanchester you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Godmanchester may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.

I am in need of some leasehold conveyancing in Godmanchester. Before diving in I would like to find out the remaining lease term.

Assuming the lease is registered - and almost all are in Godmanchester - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I am the registered owner of a 1 bedroom flat in Godmanchester, conveyancing having been completed 5 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Godmanchester with a long lease are worth £176,000. The ground rent is £50 yearly. The lease terminates on 21st October 2071

You have 50 years remaining on your lease we estimate the price of your lease extension to span between £31,400 and £36,200 as well as costs.

The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.

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Find out more about how flying freehold can affect your the value of a property.