We wanted to use a conveyancing solicitor in Cottenham for our house purchase. Our financial adviser has since advised us that our mortgage lenders Virgin Money won't deal with them. Why is this not regarded as unduly restrictive?
A bank will insist on a panel solicitor act for it. Borrowers are liable to bear the charges for this. Do use our search facility to get a quote from a solicitor to carry conveyancing in Cottenham on the Virgin Money approved list of solicitors.
3 months have elapsed following my purchase conveyancing in Cottenham completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
About to purchase a new build apartment in Cottenham. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Cottenham
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. 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. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
Due to the input of my in-laws I had a survey completed on a property in Cottenham before instructing conveyancers. I have been informed that there is a flying freehold aspect to the property. The surveyor has said that some lenders tend not grant a mortgage on a flying freehold home.
It depends who your proposed lender is. HSBC has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can investigate further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used 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.
My cousin has suggested that I use his lawyers for conveyancing in Cottenham. Do I take his guidance?
There are no two ways about it it’s preferable to select a conveyancing practitioner is to have feedback from friends or family who have used the solicitor that you are are thinking of instructing.
I am short of a 10% deposit on my apartment purchase in Cottenham , but I am anxious exchange. Do I have options?
One option is to try and agree a smaller deposit. Most vendors will accept a lesser deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last second