Do I select a Licenced Conveyancer or Solicitor for conveyancing in St Neots?
There are many registered licenced Conveyancers in St Neots and Solicitor firms in St Neots to choose from It is important to make clear that the two are regulated professionals specialising in the legal aspects of transferring property. Both can handle other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
A colleague informed me that in purchasing a property in St Neots there may be various restrictions prohibiting external alterations to a property. Is this right?
There are anumerous of properties in St Neots which have some sort of restriction or requirement of consent to perform external variations. Part of the conveyancing in St Neots should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am selling my house. I had a double glazing fitted in July 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Bank of Ireland are being a right pain. The St Neots solicitor who is on the Bank of Ireland conveyancing panel is recommending indemnity insurance as a solution but Bank of Ireland are insisting on a building regulation certificate. Why do Bank of Ireland have a conveyancing panel if they don't accept advice from them?
It is probably the case that Bank of Ireland have referred the matter to their valuer. The reason why Bank of Ireland may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
It has been three months following my purchase conveyancing in St Neots concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I opted to have a survey done on a house in St Neots in advance of appointing solicitors. I have been told that there is a flying freehold element to the property. Our surveyor has said that some mortgage companies will not give a loan on this type of home.
It varies from the lender to lender. HSBC has different requirements for example to Nationwide. If you call us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in St Neots. Conveyancing may be slightly more expensive based on your lender's requirements.
Do I need to be concerned that third parties that I am dealing with are encouraging me to use a factory type conveyancing firm as opposed to a High Street St Neots conveyancing practice?
As is the case with many professional services, often suggestions from relatives can be extremely useful or valuable. Nevertheless there are many parties with a keen interest in a conveyancing matter; estate agents, financial adviser and banks may put forward solicitors to instruct. On occasion these conveyancers might be known to one of the organisations as one of the best in their field, but occasionally there might be a commercial relationship behind the endorsement. You are free to select your own lawyer. Don't forget that most mortgage providers specify a panel list of law firms you have to use for the mortgage aspect of your transaction.
Are there common defects that you witness in leases for St Neots properties?
Leasehold conveyancing in St Neots is not unique. All leases are individual and drafting errors can result in certain sections are not included. For example, if your lease is missing any of the following, it could be defective:
Repairing obligations to or maintain elements of the property
A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Bank of Scotland, and Clydesdale all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to withdraw.
Leasehold Conveyancing in St Neots - A selection of Questions you should consider before Purchasing
You should be aware that where the lease has less than eighty years it will affect the marketability of the flat. It is worth checking with your mortgage company that they are happy with remaining years on the lease. A short lease means that you will most likely have to extend the lease sooner rather than later and it is worth finding out what this will be. For most St Neotslease extensions you will be be obliged to have been the owner of the property for two years in order to be entitled to exercise a lease extension. Are any of leasehold owners in dispute over their service charge liability? Does the lease have onerous restrictions?