When it comes to mortgage companies such as Barclays, do Cottenham property lawyers have to pay an annual charge to be on the conveyancing panel?
We are unaware of any mortgage company fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
Can you point me to a directory of Yorkshire BS panel conveyancers in Cottenham on the Building Society Association’s Website?
Unfortunately not yet. There is no such tool on the CML or Building Society Association sites. A small selection of lending institutions make their panel listings viewable online. If you are in need of a Cottenham solicitor on the Yorkshire BS please use our tool.
Intending to buy a house in Cottenham. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the UBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Cottenham conveyancer is on the UBS conveyancing panel.
What will a local search reveal about the house we're purchasing in Cottenham?
Cottenham conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search company for instance Searchflow The local search is essential in every Cottenham conveyancing purchase; that is if you don’t want any nasty once you have moved into your property. The search will supply information on, amongst other things, details on planning applications relevant to the property (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 13 subject areas.
I'm purchasing my first flat in Cottenham with a loan from Barclays . The developers refused to budge the price so I negotiated 6k of extras instead. The property agent advised me not inform my solicitor about the extras as it will adversely affect my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am looking for a flat up to £195,000 and identified one round the corner in Cottenham I like with open areas and transport links in the vicinity, however it's only got 49 remaining years left on the lease. I can't really find anything else in Cottenham for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a home loan the shortness of the lease may be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.
My husband and I are one month into a freehold purchase having been directed to a firm by the local agent to execute conveyancing in Cottenham. I am am very frustrated with the quality of service. Could you you assist me in finding new solicitors?
They would have to be very poor in order to consider replacing them. Has your mortgage been issued? If so you will need to make them aware of the replacement lawyer and get the loan are re-issued. Your new conveyancer needs to be on the lenders approved list to avoid escalating charges and frustration. So that should be your starting point. Our search tool can assist you in finding a bank approved lawyer for your conveyancing in Cottenham
Can you offer any advice when it comes to choosing a Cottenham conveyancing firm to carry out our lease extension conveyancing?
When appointing a property lawyer for your lease extension (regardless if they are a Cottenham conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Cottenham conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be of use:
-
If they are not ALEP accredited then what is the reason? How many lease extensions have they completed in Cottenham in the last 12 months?
Cottenham Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to buying
-
The best form of lease arrangement is if the freehold interest is in the ownership of the leaseholders. In this scenario the lessees have being in charge if their destiny and even though a managing agent is usually retained if it is larger than a house conversion, the managing agent retained by the leaseholders. What is the length of the lease? This information is important as a) areas could cause problems for the block as the communal areas may begin to deteriorate if services remain unpaid b) if the leaseholders have an issue with the running of the building you will need to have all the details