It is is a decade since I purchased my property in Cobham. Conveyancing lawyers have just been appointed on the sale but I am unable to track down my deeds. Is this a problem?
You need not be too concerned. First there is a possibility that the deeds will be kept by your lender or they could stored with the solicitor who handled the purchase. Secondly the likelihood is that the title will be recorded at the land registry and you will be able to prove you own the property by your conveyancing solicitors acquiring up to date copy of the land registers. The vast majority of conveyancing in Cobham relates to registered property but in the rare situation where your property is unregistered it is more of a problem but is resolvable.
This question may be naive but I am wet behind the ears as FTB of a garden flat in Cobham. Do I collect the keys to the house on completion from my conveyancer? If this is the case, I will use a local conveyancing solicitor in Cobham?
On the day of completion you will not be required to attend the conveyancers office in Cobham. Your solicitors will transfer the purchase money to the seller's lawyers, and shortly after the monies have arrived, you will be invited to collect the keys from the selling Agents and start moving into the property. Usually this occurs between 1 and 3pm.
We had chosen conveyancing lawyers locally in Cobham on the Yorkshire BS solicitor panel. They are now charging me an additional amount for dealing with the Yorkshire BS mortgage. Is this a supplemental conveyancing fee specified by Yorkshire BS?
Unfortunately, so long as it is in their Terms and Conditions or estimate then yes your lawyer may charge a fee for this. This fee is not set by Yorkshire BS but by your Cobham solicitor. Plenty of firms on the Yorkshire BS panel will charge ’dealing with mortgage’ fee and others do not.
I can not fathom if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Cobham bank branch on numerous occasions and was told it does not impact the mortgage offer and they would lend. My Cobham conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they refuse to lend based on their published requirements. I simply don't know who is right.
As long as the property lawyer is on the mortgage company panel, she or he must follow the CML Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company 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 left on the lease.
Various web forums that I have visited warn that are a common cause of hinderance in Cobham house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released determinations of a review by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays in the conveyancing process. Searches are unlikely to be the root cause of holding up conveyancing in Cobham.
The deeds to my home are lost. The conveyancers who dealt with the conveyancing in Cobham 5 years ago no longer exist. What do I do?
You no longer need to hold title original deeds to establish that you are the owner of your registered land or property, given that the Land Registry have everything they need in a digital format.
I have been on the look out for a leasehold apartment up to £195,000 and found one near me in Cobham I like with open areas and station nearby, however it's only got 49 years unexpired on the lease. I can't really find anything else in Cobham for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a mortgage that many years may be problematic. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of twenty four months you could ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.
My brother is purchasing a studio flat in Cobham. He was given a quote by the lawyer connected to the selling agents totaling £1156 . It was 9 years ago since I sold and purchased a home and the fee was £440. Have costs really escalated to that extent?
What does the conveyancing estimate include? Is it just for the legal fees, or what you will be paying in total (for instance Cobham searches, land registry fees, etc)