How up to date is your database of Godmanchester solicitors on the Co-operative conveyancing panel? Do Co-operative send you an updated list?
Godmanchester conveyancing firms themselves provide us confirmation that they are on the Co-operative conveyancing panel as opposed to being supplied with a list from Co-operative directly.
My wife and I are purchasing a apartment in Godmanchester. I might seem paranoid but how we can trust a lawyer? At some point we will need to put money into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We previously appointed conveyancing lawyers locally in Godmanchester on the Coventry BS solicitor panel. They are now charging me a supplemental charge for dealing with the Coventry BS mortgage. Is this an additional conveyancing fee set by Coventry BS?
Unfortunately, so long as it is in their Terms and Conditions or estimate then yes your lawyer is entitled to levy a fee for this. This charge is not dictated by Coventry BS but by your Godmanchester solicitor. Plenty of firms on the Coventry BS panel will charge ’dealing with mortgage’ fee and others do not.
We expect to receive a AIP from Nottingham this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Nottingham recommend any Godmanchester solicitors on the Nottingham conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Godmanchester solicitors independently although you'll need to choose one on the Nottingham conveyancing panel. The solicitor represents both you and Nottingham through the process.
Have completed on a a terraced house in Godmanchester , What is the estimated time for the Land Registry to deal with the formalities evidencing my proprietorship? My Godmanchester conveyancing solicitor has been painfully slow, so I want to check that my name is recorded.
As far as conveyancing in Godmanchester registration is no quicker or slower than anywhere else in England and Wales. Rather than based on location, timeframes can vary depending on who lodges the application, whether there are errors and whether the Land registry must send notices to any 3rd parties. As of today approximately three quarters of submission are completed within 12 days but some can be subject to protracted delays. Registration occurs once the new owner is living at the property thus 'speed' is not always top priority yet if there is a degree of urgency associated with the registration then you or your solicitor can communicate with the Registry to express the reasoning for an expedited registration.
My partner has urged me to use his conveyancers in Godmanchester. Should I choose my own solicitor?
Much as we are happy to recommend a Godmanchester conveyancing lawyer the best way to choose a conveyancing lawyer is to get recommendations from friends or relatives who have previously instructed the firm you're considering.
What are the common deficiencies that you see in leases for Godmanchester properties?
There is nothing unique about leasehold conveyancing in Godmanchester. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:
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A duty to insure the building Repairing obligations to or maintain elements of the property
You could encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Bank of Scotland, and Britannia all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to pull out.
I invested in buying a 1st floor flat in Godmanchester, conveyancing was carried out half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Godmanchester with an extended lease are worth £186,000. The average or mid-range amount of ground rent is £55 yearly. The lease terminates on 21st October 2077
You have 52 years left to run the likely cost is going to be between £29,500 and £34,000 plus professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.
I own a leasehold flat in Godmanchester. Conveyancing was finalised in five years ago. I have been told that I should not allow the lease length get too short. Why is that a problem?
Godmanchester leasehold properties are for a set term - usually 99 years when they started. However a significant appartments in Godmanchester were built or converted in the 70’s80’s and so these leases now have under eighty years unexpired. This may seem like plenty of time however Banks, Building Societies and other mortgage institutions on the whole require leases to have a minimum of 75 years left to be mortgageable. Accordingly when you come to sell the property you will need a lease extension if you are nearing 75 years. To optimize your property value you should be thinking about whether or not to extend your lease long before you come to sell it. You should note that there are strong financial reasons to taking action before the lease hits eighty years as when the lease falls below eighty years the premium to be paid to extend starts to get a lot more expensive.