When can the exchange of contracts take place for sale conveyancing in Waterbeach and am I required to attend the conveyancers branch?
Where you are in close proximity to our conveyancing solicitors in Waterbeach you are invited in to sign the paperwork. That being said, the lender approved solicitors we work with provide a countrywide conveyancing service and give as equally diligent and professional a job for you when dealing with you digitally. The signing of the contract is not the important part. Signing on the dotted line is necessary for the solicitor to exchange contracts when the time is right, which will usually be very shortly after signing. The exchange process is is usually a five minute process, although where a lengthy "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Waterbeach)to be in the office available at the end of the phone to exchange contracts.
I am considering mortgaging my home in Waterbeach, does my lawyer have to be on the HSBC Solicitor panel?
In theory, you could use a solicitor that is not on the HSBC conveyancing panel, but HSBC would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
Forgive me if this question is silly but I am unseasoned as a first time purchaser of a two bedroom flat in Waterbeach. Do I collect the keys to the premises on the completion date from my lawyer? If this is the case, I will find a High Street conveyancing solicitor in Waterbeach?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will electronically transfer the completion advance to the vendor’s conveyancers, and once they have received this, you will be called to collect the keys from the property Agents and move into your new home. Usually this occurs between 1 and 3pm.
I have today made my last payment due on my mortgage with Barclays. I assume I don't need a Waterbeach solicitor on the Barclays panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Barclays mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Barclays mortgage from the register. Barclays, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Barclays has sent the Land Registry the discharge electronically, and
- Barclays has instructed the Land Registry to do so
My offer on a property in Waterbeach has been accepted, but there is a chain. The vendors have offered on on an apartment, but it’s not yet agreed to, and have viewings of other flats booked. I have selected a bricks and mortar conveyancing solicitor in Waterbeach. What do I do now? When do I get the mortgage application with RBS going?
It is normal to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx one thousand pounds, then valuation, Waterbeach conveyancing search costs, etc). The first thing to do is ensure that your lawyer is on the RBS conveyancing panel. As to the subsequent stages this very much depends on the specifics of your transaction, desire for this property and on the state of the market. During a hot market many home buyers would apply for a home loan with RBS and pay for the valuation and only if it comes back ok would they request their property lawyer to press on with the conveyancing in Waterbeach.
I am buying a new build flat in Waterbeach. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Waterbeach
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. There must be mutual enforceability of lessee’s covenants. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
My husband and I are four weeks into a freehold purchase having been referred to solicitors by the high street agent to execute conveyancing in Waterbeach. I am am very dissatisfied with the quality of service. Can you you assist me in finding new solicitors?
They would have to be very poor to suggest changing them. Has your mortgage been generated? In the event that it has you will need to make them aware of the new contact details and have the loan are re-issued. Your new conveyancer should be on the mortgage company panel to avoid supplemental fees and complications. That should be your starting point. The find a solicitor tool should assist you in finding a lender approved solicitor for your home move in Waterbeach
Last July I purchased a leasehold property in Waterbeach. Do I have any liability for service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I bought a garden flat in Waterbeach, conveyancing was carried out in 1999. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Waterbeach with a long lease are worth £180,000. The ground rent is £65 invoiced every year. The lease comes to an end on 21st October 2085
You have 59 years remaining on your lease we estimate the premium for your lease extension to range between £20,900 and £24,200 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use the figures 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. Please do not move forward based on this information without first getting professional advice.