It is is a decade since I bought my property in Sawston. Conveyancing lawyers have now been appointed on the sale but I am unable to find the deeds. Will this jeopardise the sale?
Don’t worry too much. First the deeds may be kept by the lender or they may stored with the lawyers who acted in the purchase. Secondly the likelihood is that the land will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing lawyers obtaining current official copies of the land registers. Nearly all conveyancing in Sawston relates to registered property but in the rare situation where your home is not registered it is more of a problem but is resolvable.
I have an AIP. The lender mentioned the loan came with free conveyancing. Does this mean I have to use their panel solicitor as I would prefer to appoint a Sawston based conveyancing firm?
You should check but the chances are that appoint one of their panel conveyancers where you accept the "fee-free" incentive. Call the lender and ask if they make available a monetary alternative. In the past a few lenders offered a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor in Sawston.
Various web forums that I have visited warn that are the number one reason for stalling in Sawston conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not figure within the common causes of hindrances in the conveyancing process. Local searches are unlikely to be the root cause of slowing down conveyancing in Sawston.
Are there restrictive covenants that are commonly identified as part of conveyancing in Sawston?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Sawston. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Sawston differ for new build properties?
Most buyers of new build residence in Sawston come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is ready to move into. This is because builders in Sawston usually acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Sawston or who has acted in the same development.
Am in the process of purchasing my 1st home in Sawston. Conveyancing lawyer has been appointed. The mortgage adviser pointed out that a survey is not needed as the property was only constructed twenty two years ago.
The bare minimum you need a Home Buyer's Report. As the premises is over ten years old the property will not come with a warranty, so you would be well advised not to take a risk. Where a property of this age shows no signs of defects a Home Buyer's report could be sufficient. The report should highlight any obvious problems and suggest further investigation if appropriate. Where there are any signs of material issues obtain a comprehensive Building Survey from the beginning.