Can conveyancing in Cottenham to be completed in less than a month?
In the event that you are under pressure to exchange we would recommend that your lawyer is familiar with the area as they will make use of local contacts and knowledge. It is possible that they could have conducted otherhouses in the same neighbourhood. You would be best advised to use a Cottenham conveyancing firm. Second, be sure that the conveyancing firm is on the on the approved list for your mortgage company. It is claimed that just under twenty per cent of Cottenham conveyancing transactions are frustrated or jeopardised after discovering a buyer’s lawyer was not on their banks member panel. This can often result in the home move being frustrated by as much as three weeks. It is believed that this issue affects approximately 100,000 home moves every year. Almost all Cottenham conveyancing practices can not represent certain banks so do check as early as possible.
I own a freehold property in Cottenham yet charged 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 generation of new rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
When it comes to mortgage companies such as Co-operative, do Cottenham lawyers have to pay an annual charge to be on the list of approved solicitors?
We are not aware of any bank fees to be on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
Does a directory service exist listing Clydesdale panel conveyancers in Cottenham on the UK Finance Lenders’ Handbook Website?
No. There is no such facility on the CML or Building Society Association websites. Very few lenders make their panel listings viewable online. If you are in need of a Cottenham conveyancer on the Clydesdale please use our facility.
Planning on purchasing 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 Nationwide 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 property lawyer is on the Nationwide conveyancing panel.
It has been 2 months since my purchase conveyancing in Cottenham completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £160,000. 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 property 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.
I've recently found out that there is a flying freehold issue on a property I put an offer in last month in what should have been a quick, no chain conveyancing. Cottenham is the location of the property. What do you suggest?
Flying freeholds in Cottenham are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Cottenham you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cottenham may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
We expect to complete the sale of our £475,000 apartment in Cottenham on Wednesday in a week. The managing agents has quoted £408 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Cottenham?
For the majority of leasehold sales in Cottenham conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Answering conveyancing due diligence enquiries
Where consent is required before sale in Cottenham
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I own a studio flat in Cottenham, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Cottenham with over 90 years remaining are worth £186,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease terminates on 21st October 2076
With 52 years remaining on your lease we estimate the price of your lease extension to span between £29,500 and £34,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.