Would the conveyancing lawyers that you recommend handle auction conveyancing in Waterbeach?
We know of a few auction lawyers we can put you in touch with those who can conduct auction conveyancing. Waterbeach is just one of the many areas of in which our lawyers are based.
I purchased a freehold premises in Waterbeach but still invoiced for rent, why is this and what is this?
It is rare for properties in Waterbeach and has limited impact for conveyancing in Waterbeach but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
I am considering applying for a Nationwide mortgage for purchase of a new build (under development) in Waterbeach with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Nationwide ?
In theory, you could use a solicitor that is not on the Nationwide conveyancing panel, but Nationwide would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
We're new to the buying process - had an offer accepted, yet the agent has warned us that the seller will only proceed if we use the agent's recommended lawyers as they want an ‘expedited deal’. Our preferred option is to instruct a local solicitor used to conveyancing in Waterbeach
We suspect that the owner is not behind this request. Should the vendor desire ‘a quick sale', taking such a hostile approach to a genuine purchaser is not the way to achieve this. Try to communicate with the vendors directly and make the point that (a)you are motivated buyers (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)but you intend to use your preferred Waterbeach conveyancing solicitors - not the ones that will earn their estate agent a commission or achieve conveyancing targets pre-set by corporate headquarters.
Can you provide any advice for leasehold conveyancing in Waterbeach with the intention of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Waterbeach can be avoided where you get in touch lawyers the minute you market your property and ask them to put together the leasehold documentation which will be required by the buyers’ representatives. If you have carried out any alterations to the residence would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Waterbeach state that internal structural changes or laying down wooden flooring require a licence issued by the Landlord consenting to such works. If you fail to have the approvals in place do not communicate with the landlord without checking with your lawyer in the first instance. Some Waterbeach leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors. Many freeholders or Management Companies in Waterbeach levy fees for providing management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Waterbeach. If you are supposed to have a share in the Management Company, you should make sure that you have the original share document. Obtaining a re-issued share certificate can be a time consuming process and slows down many a Waterbeach conveyancing deal. If a reissued share certificate is necessary, do contact the company director and secretary or managing agents (if applicable) for this as soon as possible.
Waterbeach Leasehold Conveyancing - Examples of Queries before buying
Most Waterbeach leasehold apartments will incur a service bill for the upkeep of the block invoiced by the freeholder. If you acquire the apartment you will have to pay this charge, usually periodically accross the year. This can differ from a few hundred pounds to thousands of pounds for blocks with lifts and large common grounds. In all probability there will be a ground rent to be met yearly, this is usually not a significant figure, say approximately £50-£100 but you need to check it because sometimes it could be many hundreds of pounds. Does the lease contain onerous restrictions? The answer will be important as a) areas can result in problems in the block as the common areas may start to deteriorate where services remain unpaid b) if the tenants have an issue with the managing agents you will wish to have all the details