Can you suggest a Alliance & Leicester sanctioned Waterbeach conveyancing conveyancer who can have us moved in within two weeks? Am I best advised to go for a local Waterbeach solicitor or an online conveyancer?
We would be happy to suggest some excellent Waterbeach conveyancing firms. You can also walk up the high street in Waterbeach. Go in to some well established law practices and ask to speak with a conveyancing solicitor for a fee estimate. Mention your time frames together with your reasons and ask for a commitment on your deadline. Select the one that appears most efficient.
I purchased a freehold premises in Waterbeach but nevertheless pay 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 creation of new rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
We're in Waterbeach, FTBs purchasing with a mortgage (lender is RBS , and our lawyer is on the RBS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the RBS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I am the single recipient of my late mum's will with all property in now in my sole name, including the house in Waterbeach. Conveyancing formalities meant that the Land Registry date was in July. I now wish to sell up. I understand that there is a CML six month 'rule', meaning my proprietorship will be treated the same way as if I'd bought the house in July. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be affected by that. Some lenders would take a sensible view as this provision primarily exists to pick up on subsales or the flipping of properties.
When it comes to mortgage companies such as Clydesdale, do Waterbeach conveyancers have to pay a fee to be on the conveyancing panel?
We are unaware of any bank fees to be on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
We had chosen conveyancing lawyers locally in Waterbeach on the TSB solicitor approved list. They are now charging me a further charge for dealing with the TSB mortgage. Is this a supplemental conveyancing fee set by TSB?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitor may charge a fee for this. This fee is not dictated by TSB but by your Waterbeach conveyancer. Some firms on the TSB panel will charge ’dealing with mortgage’ fee but some practices incorporate it on their overall fee.
I work for a busy estate agency in Waterbeach where we have witnessed a number of leasehold sales jeopardised as a result of short leases. I have received contradictory information from local Waterbeach conveyancing firms. Could you clarify whether the vendor of a flat can start the lease extension formalities for the buyer?
Provided that the seller has owned the lease 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 need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
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.
I acquired a garden flat in Waterbeach, conveyancing having been completed 4 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Waterbeach with a long lease are worth £227,000. The ground rent is £50 invoiced every year. The lease expires on 21st October 2097
With 72 years left to run we estimate the premium for your lease extension to range between £9,500 and £11,000 as well as costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.
Is planning consent required to convert a house into two appartments in Waterbeach? This has taken place to a property opposite to my house in Waterbeach and was unaware of the conversion until it was finished.
Planning consent is necessary for converting a single house in Waterbeach into apartments but possibly not for converting back to single dwelling-house so, in answer to your query, yes.