Just been in touch with my conveyancing lawyer in Chatteris who completed the legal work two years ago and wanted a conveyancing costs illustration based on an identical type of home move (a leasehold property and a freehold premises) of similar values with a mortgage from Birmingham Midshires. I am now being quoted double. Am I right to be tempted to shop around for an alternative property lawyer?
The estimate fees are a little high. If you you were to look around you could shave off some of the expense by perhaps £100 plus VAT. That being said, assuming were happy with the assistance the firm provided you maycome to rue opting for an a cheaper conveyancer. If is important to enquire that the solicitor can represent Birmingham Midshires. Do make use of our search tool to find a Chatteris conveyancing firm on the Birmingham Midshires conveyancing panel, which can often include conveyancing solicitors in Chatteris.
Having sold my house in Chatteris last May yet the purchaser is Skype messaging me complaining that her solicitor needs to hear from mine. What should have happened now that I have sold?
Post completion of your house sale your solicitor is committed to send the transfer documentation and all of the paperwork to the buyer’s solicitors. Depending on the transaction, your solicitor should also confirm that the mortgage has been repaid to the purchasers conveyancers. There is unlikely to be post completion formalities peculiar conveyancing in Chatteris.
I'm the sole recipient of my late mum's will and I have everything in my name now, including the house in Chatteris. Conveyancing formalities meant that the Land Registry date was in February. I plan to dispose of the property. I understand that there is a Mortgage Lenders six month 'rule', meaning my property ownership may be treated the same way as if I'd bought the property in February. Do I have to wait half a year to sell?
The CML handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be caught by that. How practical a view banks take of it, depend on the lender as this obligation is primarily there to identify subsales or the quick reselling of property.
We have agreed to purchase a house in Chatteris. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender RBS be concerned?
As you are obtaining a mortgage with RBS your lawyer must follow the conveyancing instructions contained in Part two of UK Finance Lenders’ Handbook for RBS. The CML Handbook includes minimum provisions for solar panel roof-space leases, and lawyers are required to report to RBS where a lease fails to satisfy these specifications. The conditions relate to the installation of panels on properties in England and Wales and is not limited to Chatteris.
It is not clear whether my bank requires a lease extension. I have telephoned my Chatteris building society branch on various occasions and was told they are content with the situation and they will lend. My Chatteris conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they will not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
As long as the solicitor is on the mortgage company approved list, they must comply with the CML Handbook requirements for the lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
How does conveyancing in Chatteris differ for new build properties?
Most buyers of new build residence in Chatteris approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is built. This is because developers in Chatteris typically acquire 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 conveyancers 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 Chatteris or who has acted in the same development.
I decided to have a survey carried out on a property in Chatteris before appointing lawyers. I have been told that there is a flying freehold aspect to the house. Our surveyor advised that some banks tend not give a loan on a flying freehold house.
It varies from the lender to lender. Santander has different requirements for example to Halifax. If you e-mail us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Chatteris. Conveyancing will be smoother if you use a solicitor in Chatteris especially if they are acquainted with such properties in Chatteris.
I am in need of some leasehold conveyancing in Chatteris. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.
If the lease is recorded at the land registry - and 99.9% are in Chatteris - 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 acquired a 1 bedroom flat in Chatteris, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Chatteris with a long lease are worth £176,000. The ground rent is £50 yearly. The lease runs out on 21st October 2106
With 80 years remaining on your lease the likely cost is going to range between £8,600 and £9,800 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use the figures 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. Please do not move forward placing reliance on this information without first getting professional advice.