It has come to my attention via my IFA that my Ely the law firm I have appointed is not on the bank Conveyancing panel. How can I be certain that this is indeed the case?
Your first step should be to contact your Ely lawyer directly. You lawyer should notify you what has happened. Where they are not on the panel they may be able to suggest a Ely conveyancing practice that is on the approved list of lawyers for your bank.
We were just about to exchange contracts for a garden flat in Ely. We have hit a snag. Our loan offer with Virgin Money expires on 19/3/2025 but the vendors are suggesting a completion date of 21/3/2025. Can one prolong the loan expiry date?
The best person to deal with your issue is your lawyer who is in a position to calculate if he or she is should be discussing with the mortgage company, seller’s lawyers, estate agents or conceivably all three taking into account the history of your conveyancing to date.
Having sold my house in Ely last October but my buyer keeps whats apping every few hours to say her solicitor is waiting to hear from mine. What are the post completion sale legalities now that I have sold?
After completion of your sale your lawyer is committed to send the transfer deeds and all supplemental paperwork to the purchaser's solicitors. Depending on the transaction, your solicitor should also evidence that the legal charge in favour of the lender has been discharged to the buyers lawyers. There are no post completion requirements unique to conveyancing in Ely.
Despite weeks of looking the Title Certificate and documents to my property are lost. The conveyancers who dealt with the conveyancing in Ely 5 years ago are no longer around. What do I do?
As long as you have a registered title the details of your proprietorship will be evidenced by HMLR under a Title Number. It is easy to conduct a search at the Land Registry, identify your property and get current copies of the property title for a small fee. If the property is Leasehold then the Land Registry will usually retain a certified copy of the Registered Lease and again, a copy can be obtained for £20 inclusive of VAT.
About to purchase a new build apartment in Ely. 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 legal work.
Here is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Ely
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There must be mutual enforceability of lessee’s covenants. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please supply a car parking plan.
I have just started marketing my basement flat in Ely. Conveyancing solicitors are to be appointed soon, however I have recently received a yearly service charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should discharge the service charge as normal because all rents and maintenance charges should be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Leasehold Conveyancing in Ely - A selection of Queries Prior to Purchasing
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It would be sensible to find out as much as possible about the managing agents as they will either make your living at the property much simpler or uncomfortable. Being a leasehold owner you are often in the clutches of the managing agents both financially and when it comes to every day issues like the upkeep of the common parts. Ask other people if they are happy with their management. Finally, be sure you know the dates that you are obliged pay the service charge to the relevant party and precisely what it includes. The majority of Ely leasehold properties will have a service charge for maintenance of the building set by the management company. Where you purchase the apartment you will have to pay this charge, usually quarterly accross the year. This could be anything from a few hundred pounds to thousands of pounds for buildings with lifts and large communal areas. There will also be a ground rent to be met yearly, this is usually not a large figure, say approximately £25-£75 but you need to enquire it because on occasion it could be many hundreds of pounds. The best form of lease structure is where the freehold title is in the ownership of the leaseholders. In this scenario the leaseholders enjoy being in charge if their destiny and although a managing agent is usually employed where it is bigger than a house conversion, the managing agent retained by the leaseholders.