How up to date is your database of Soham solicitors on the Skipton conveyancing panel? Do Skipton send you an updated list?
Soham conveyancing firms themselves provide us confirmation that they are on the Skipton conveyancing panel as opposed to being supplied with a list from Skipton directly.
It has been five months following my purchase conveyancing in Soham completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £180,000. 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 residence 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'm purchasing my first flat in Soham with the aid of help to buy. The builders refused to move on the price so I negotiated 6k of additionals instead. The property agent told me not inform my solicitor about the extras as it will jeopardize my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently found out that there is a flying freehold element on a house I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. Soham is where the house is located. What do you suggest?
Flying freeholds in Soham are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Soham you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Soham 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.
I am employed by a busy estate agency in Soham where we see a few flat sales jeopardised as a result of short leases. I have been given inconsistent advice from local Soham conveyancing solicitors. Please can you confirm whether the seller of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Soham Leasehold Conveyancing - A selection of Queries before Purchasing
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Does the lease include onerous restrictions? Are any of leasehold owners in dispute over their service charge payments? Is there a share of the freehold?
My wife and I have recently appointed a conveyancing solicitor in Soham. I I would like to check if they are listed on the lender's approved list of lawyers. Can you or the bank confirm if they are on the panel?
It’s a good idea call your solicitor to check if they are on the lender's panel. Alternatively please get in touch with us and we can investigate and revert. If they are not on the conveyancing panel we we can help find a specialist conveyancing solicitor in Soham on the approved list for your mortgage company.