Much to our surprise we have been advised by our estate agent that my Cottenham solicitor is not on the bank Solicitor panel. How can I be sure if this is correct?
The best course of action for you to take is to call your Cottenham conveyancer. You lawyer should advise you what has happened. Where they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your lender.
I own a freehold house in Cottenham yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Cottenham and has limited impact for conveyancing in Cottenham 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 hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
We are purchasing a detached bungalow in Cottenham. We would like to carry out a loft conversion at the property.Will the conveyancing process include checks to ascertain if these works are permitted?
Your conveyancer should review the registered title as conveyancing in Cottenham can occasionally reveal restrictions in the title deeds which prevent categories of alterations or necessitated the consent of another owner. Certain extensions call for local authority planning permissions and approval under the building regulations. Some locations are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. It would be sensible to check these things with a surveyor ahead of any purchase.
Can I be sure that the Cottenham conveyancing solicitor on the Nottingham panel is any good?
When it comes to conveyancing in Cottenham seeking recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advise that you speak with the solicitor carrying out your transaction.
Completion of my purchase has taken place for my property in Cottenham. Conveyancing was a necessary evil but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
Almost all banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. We understand that complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
I decided to have a survey done on a house in Cottenham ahead of instructing solicitors. I have been told that there is a flying freehold overhang to the property. Our surveyor advised that some banks will refuse to grant a loan on this type of property.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Halifax. If you contact us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Cottenham. Conveyancing will be smoother if you use a solicitor in Cottenham especially if they are familiar with such properties in Cottenham.
Planning to complete next month on a ground floor flat in Cottenham. Conveyancing solicitors have said that they will have a report out to me within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Cottenham should include some of the following:
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Setting out your rights in respect of the communal areas in the block.For example, does the lease provide for a right of way over an accessway or hallways? Advice as to the provision as set out in the lease to pay service charges - in respect of the block, and the wider rights a leaseholder has Additions to the flat Responsibility to repair and maintain the block. It is important that you know who is liable for the repair and maintenance of every part of the building Rent payments - what is payable and what the invoice dates are, and be on notice if this will change in the future
Cottenham Leasehold Conveyancing - A selection of Queries before Purchasing
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Most Cottenham leasehold properties will have a service bill for maintenance of the building levied by the management company. Where you purchase the apartment you will have to meet this liability, usually periodically accross the year. This can vary from a few hundred pounds to thousands of pounds for buildings with lifts and large common areas. There will also be a ground rent for you to pay annual, this is usually not a exorbitant sum, say approximately £50-£100 but you need to check as occasionally it can be surprisingly expensive. Generally speaking the cost for major works tend not to be included within service charges, albeit that a few managing agents in Cottenham require leasehold owners to pay into a reserve fund and this is used to offset against major works. The best form of lease structure is where the freehold reversion is in the ownership of the leaseholders. In this scenario the leaseholders enjoy control and even though a managing agent is usually employed where the building is larger than a house conversion, the managing agent is directed by the tenants.
My wife and I are purchasing a garden flat in Cottenham. At the point of instructing our conveyancer, we were told they were on all mainstream bank panels. The mortgage broker emailed today to advise that they don't appear to be on the Bank of Ireland approved list. Were it to be true, what should we do? Do we simply find a different conveyancing practitioner that is on their approved list or do we pay for separate representation, with Bank of Ireland selecting their own approved property lawyer.
When acquiring a property with mortgage finance it is conventional for the buyer’s lawyers to also represent the purchaser's lender. In order to act for a bank or building society a conveyancing practitioner has to be on that lender's conveyancing panel. An application has to be made by the solicitor to the lender to become a member of the lender's panel and there are increasingly strict criteria which the property lawyer has to meet. Some mortgage companies now insist their panel firms to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should call Bank of Ireland to discover if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on Bank of Ireland's conveyancing panel and you may continue to use your own Cottenham solicitors, in which case it will likely add costs, and it may delay matters as you have another set of people involved.