My fiance and I are planning to buy a house in Cobham and have appointed a Cobham conveyancing practice. Within the past 48 hours our conveyancer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. National Westminster Bank have this afternoon contacted us to advise us that there is now an issue as our Cobham conveyancer is not on their conveyancing panel. Please explain?
When purchasing a property with mortgage finance it is normal for the purchasers' lawyers to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Cobham solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
What does a local search tell me about the house I am purchasing in Cobham?
Cobham conveyancing often starts with the applying for local authority searches directly from your local Authority or through a personal search company for instance Searches UK The local search plays a central role in many a Cobham conveyancing purchase; that is if you don’t want any unpleasant once you have moved into your new home. The search should supply information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject headings.
Just had an offer accepted on a new build flat in Cobham. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Cobham
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? There must be mutual enforceability of lessee’s covenants. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
I opted to have a survey carried out on a property in Cobham before appointing lawyers. I have been told that there is a flying freehold overhang to the house. Our surveyor has said that some mortgage companies tend refuse to give a mortgage on such a premises.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Nationwide. Should you wish to telephone us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Cobham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Cobham to see if the conveyancing costs will increase in light of this.
Is it best to appoint a Cobham conveyancing lawyer based in the area that I am hoping to buy? An old friend can carry out the legal work however they are based a couple of hundredmiles away.
The benefit of a high street Cobham conveyancing practice is that you can drop in to sign documents, present your ID and apply pressure on them where appropriate. Having local Cobham know how is a bonus. That being said nothing is more important than finding someone that will pull out all the stops for you. If if people you trust used your friend and in the main were impressed that should outweigh using an unfamiliar Cobham conveyancing solicitor solely due to them being local.
Been looking for a lawyer for freehold sale conveyancing in Cobham. I'm selling, simple no mortgage to discharge, no hurry, no onward chain. Received an estimate from a solicitor for £1000 excluding VAT which is a tad high given that its so straightforward. Can I pay less for conveyancing in Cobham?
Considering it’s a sale only, 475 + VAT is likely to be about the lowest for sale conveyancing in Cobham.