I am expecting a mortgage offer from Nat West. I intend to retain the legal services of a Licensed Conveyancer in Cambourne. Does the Nat West Conveyancing panel allow for Licensed Conveyancers?
The Nat West approved solicitor list is, like many other lenders, represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
I am soon to complete on the purchase of a house in Cambourne but as a result of wreckage from the recent storms I have managed to agree compensation from the seller of six thousand pounds in the form of a adjustment in the price. This was going to be addressed as part of the conveyancing process but RBS will not permit this. Should they have been notified?
The lawyer that is on the RBS approved list is duty bound to advise RBS of any changes to the purchase price. If you prohibit your lawyer to disclose the price change to RBS then they would have to discontinue acting for you. In addition, RBS and you would have to appoint a new conveyancing practitioner for your conveyancing in Cambourne.
I am purchasing my first flat in Cambourne with a mortgage from Yorkshire Building Society. The builders would not move on the price so I negotiated £7000 of additionals instead. The sale representative advised me not to tell my conveyancer about this side-deal as it will affect my mortgage with Yorkshire Building Society. Do I keep my lawyer in the dark?.
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.
Yesterday I discovered that there is a flying freehold element on a property I have offered on two weeks back in what should have been a simple, chain free conveyancing. Cambourne is the location of the property. Can you shed any light on this issue?
Flying freeholds in Cambourne are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Cambourne you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cambourne may ascertain 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.
What does commercial conveyancing in Cambourne cover?
Cambourne conveyancing for business premises incorporates a broad range of advice, offered by regulated solicitors, relating to business premises. For example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
Should I go with a Cambourne conveyancing solicitor in close proximity to the house I am purchasing? An old friend can carry out the legal formalities however they are based 400kilometers drive away.
The primary upside of using a high street Cambourne conveyancing practice is that you can drop in to sign paperwork, hand in your identification documents and pester them where appropriate. Having local Cambourne know how is a benefit. That being said it's more important to get someone that will do a good and efficient job. If if people you trust used your friend and on the whole were content that should trump using an unfamiliar Cambourne conveyancing solicitor just because they are round the corner.