Me and my partner are purchasing a 1 bedroom apartment in Cottenham with a mortgage. We like our Cottenham lawyer, however the mortgage company says she’s not on their "panel". We have to appoint one of the mortgage company panel solicitors or keep our Cottenham property lawyer as well as pay for one of their panel firms to act for them. This seems very unfair; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Cottenham conveyancing lawyer to apply to be on the conveyancing panel.
I am considering applying for a Santander mortgage for purchase of a newly converted (under development) in Cottenham with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Santander ?
There is nothing to stop you using your solicitor, but Santander will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Is it necessary to pay for insurance to address the risk of chancel repairs when buying a house in Cottenham?
Unless a prior acquisition of the property completed after 12 October 2013 you can assume that conveyancing practitioners handling conveyancing in Cottenham to continue to recommend a chancel search and or insurance against a claim.
Me and my brother purchased a renovated Edwardian house in Cottenham. Conveyancing solicitor represented me and Nottingham Building Society. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, another for leasehold under the exact same address. I thought I was buying a freehold how can I check?
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Cottenham and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the situation with your conveyancing solicitor who conducted the conveyancing.
I've recently found out that there is a flying freehold issue on a house I have offered on last month in what was supposed to be a quick, no chain conveyancing. Cottenham is the location of the property. Is there any advice you can impart?
Flying freeholds in Cottenham are not the norm 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 thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cottenham may determine 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.
What makes your site different to other online quote calculators when it comes to conveyancing in Cottenham?
At this site secure a fixed fee costs illustration via a Solicitor or Licensed Conveyancer that has a full understanding of the issues for your conveyancing in Cottenham. As opposed to estate agents and many comparison sites we do not operate kick-back deals with solicitors. Some agents and online brokers 'recommend' solicitors that pays the highest kickback, as opposed to the best value conveyancing in Cottenham