I am not in a position to travel far from Waterbeach. Is there a reason why all Waterbeach conveyancers are not on all lender panels?
Banks tend to impose restrictions on either the type or the number of conveyancing practices on their panel. Frequent examples of such criteria being that the organisation is required to have two or more partners. In addition to restricting the type of firm, some banks decided to limit the number of firms they use to act for them. It is worth noting that building societies have no accountability for the accuracy of service given by any Waterbeach conveyancer on their panel. Property fraud was a key driver in the rationalisation of conveyancing panels a few years ago even though there are conflicting assessments about whether solicitors sat at the center of that fraud. Data published by HMLR exposes that thousands of conveyancing practices only conduct a couple of conveyances a year. Those advocating conveyancing panel cuts ask why law firms should have any entitlement to be listed on a lender panel when it is evident that property law is not their primary expertise?
Can you recommend a Nottingham Building Society approved Waterbeach conveyancing conveyancer that can complete within 10 days? Would it be better to use a high street Waterbeach solicitor or a factory type firm?
We can recommend some very good Waterbeach conveyancing firms. You can also walk up the main road in Waterbeach. Visit a couple of firms and ask to see a conveyancing solicitor for a costs illustration. Explain your expectations together with the reasons and ask for a commitment on speed. Appoint the one that genuine.
I own a freehold house in Waterbeach but still charged rent, why is this and what is this?
It’s unusual for properties in Waterbeach and has limited impact for conveyancing in Waterbeach but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
I just bought a property at auction in Waterbeach. Conveyancing is needed. What are my next steps?
Having exchanged you should retain a conveyancing practitioner as a matter of urgency as you are facing a tight deadline in which to complete the deal. An auction property will have a corresponding auction pack. This will include most,if not all of the paperwork that your solicitor will need. Where you are dealing with leasehold premises the legal papers should contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation specific to a leasehold property. You need to pass this on to the lawyer working for you ASAP. Do make sure that your finances are in order to complete on the date specified in the contract.
I'm in the throws of viewing apartments in Waterbeach and I am now considering a potential offer. Is it wise to have my property lawyer on ‘stand by’? I intend to finance via a mortgage with Skipton.
It would be prudent to start your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their contact information on to the EA. Given that you are taking out a mortgage with Skipton, make sure you remember to check that your lawyer is on the Skipton conveyancing panel.
I can not work out if my bank requires a lease extension. I have called into my local Waterbeach bank branch on a couple of occasions and was advised it wasn't an issue and they will lend. My Waterbeach conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
As long as the conveyancing practitioner is on the lender approved list, they must follow the CML Handbook specifications for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I moved into my house on 11 May and the transaction details is yet to be on the land registry website. Should I be concerned? My conveyancing solicitor in Waterbeach said it would be registered inside ten days. Are properties in Waterbeach uniquely lengthy to register?
As far as conveyancing in Waterbeach is concerned, registration is no faster or slower than the rest of 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 communicate with any 3rd persons or bodies. At present approximately 80% of submission are fully dealt with in less than three weeks but some can be subject to extensive hold-ups. Registration is effected after the new owner has moved in to the premises so 'speed' is not typically top priority yet where it is urgent that the the registration takes place urgently then you or your conveyancer should contact the land registry and explain the circumstances.
Should one as executor remove a deceased person's name from the title deeds for a house in Waterbeach?
If a Waterbeach property is jointly owned and one of the proprietors dies, the name will not automatically be removed from the Land Registry title. It is not necessary to remove their name as in the event of a disposal your conveyancer would just be required to supply proof why the other owner is missing from the transfer, such as a grant of probate.
With the aim of making the sale conveyancing more straight forward in the future you can arrange to have the deceased name removed from the title entries by submitting an application to the land registry with proof of the death. There is no land registry fee payable.