It is a dozen years since I acquired my house in Soham. Conveyancing lawyers have recently been retained on the sale but I am unable to find the title documents. Is this a major issue?
You need not be too concerned. Firstly the deeds may be with the mortgage company or they may be in the possession of the lawyers who handled your purchase. Secondly in all probability the property will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers acquiring up to date copy of the land registers. Most conveyancing in Soham relates to registered property but in the unlikely event that your property is not registered it is more of a problem but is not insurmountable.
I require expedited conveyancing in Soham as I am under a deadline to sign on the dotted line within 4 weeks. Thankfully I do not need a mortgage. Is it possible to decline from having conveyancing searches to save money and time?
As you are not getting a mortgage you are at free not to have searches conducted although no law firm would suggest that you don't. Drawing on years of experience of conveyancing in Soham the following are instances of what can arise and adversely impact future mortgageability: Enforcement Actions, Outstanding Charges, Overdue Grants, Unadopted Roads,...
How does conveyancing in Soham differ for new build properties?
Most buyers of new build property in Soham approach us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is constructed. This is because house builders in Soham usually acquire the land, 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 Soham or who has acted in the same development.
Hoping to buy a property located in Soham and I am already nervous. I couldn't find anything specific about Soham. Conveyancing will be needed in due course but do you know about the Soham area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Soham. In the meantime here are some basic statistics that we found
What makes a Soham lease unacceptable for security purposes?
Leasehold conveyancing in Soham is not unique. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain sections are not included. For example, if your lease is missing any of the following, it could be defective:
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Maintenance charge proportions which don’t add up to the correct percentage Clauses dealing with recovering service charges for expenditure on the building or common parts.
A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Leeds Building Society, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the buyer to withdraw.
Leasehold Conveyancing in Soham - A selection of Queries before Purchasing
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How is the lease structured? In the main the outlay for major works tend not to be included within maintenance charges, although some managing agents in Soham require leasehold owners to pay into a sinking fund created for the specific purpose of establishing a fund for major works. Most Soham leasehold flats will incur a service bill for the upkeep of the building invoiced on behalf of the landlord. If you purchase the flat you will have to meet this contribution, usually periodically accross the year. This can vary from a couple of hundred pounds to thousands of pounds for large purpose-built blocks. There will also be a ground rent for you to pay annual, this is usually not a significant amount, say about £25-£75 but you need to check it because occasionally it could be surprisingly expensive.
Living abroad I am unable to attend my Soham conveyancing lawyers office to sign documents for conveyancing in Soham – will this be an issue?
You need not be concerned. Soham conveyancing lawyers can conduct conveyancing transactions for clients from a distance. It is not necessary for you to be able to visit a Soham conveyancers office. They can undertake everything via phone, post and email - whatever works for you.