We are soon to complete on the purchase of a property in Cottenham but as a consequence of damage from some water damage at the property I have was able negotiate reparation from the seller in the sum of £3k taking the form of a deduction in the price. I had intended this to be dealt with as part of a side agreement however Barclays are not allowing this. Should they have been involved?
The conveyancing practitioner that is on the Barclays conveyancing panel is obliged to inform Barclays of any variations to the purchase price. If you were to refuse your solicitor to notify the price change to Barclays then they would have to discontinue acting for you. In addition, Barclays and you would have to appoint a new lawyer for your conveyancing in Cottenham.
Completed the sale of my flat in Cottenham last August yet the purchaser is texting daily to say her solicitor is waiting to hear from mysolicitor. What should my lawyer have done following completion?
Post completion of your sale your lawyer is obliged to deliver the transfer deeds and all supplemental paperwork to the purchaser's conveyancer. Where appropriate, your solicitor must also confirm that the legal charge in favour of the lender has been discharged to the purchasers conveyancers. There is unlikely to be post completion requirements unique to conveyancing in Cottenham.
is it true that all Cottenham solicitor practices on the Bank of Ireland conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the Bank of Ireland conveyancing panel they would need to be overseen by the SRA. The majority of lenders do list licenced conveyancers on their panel and in that case the organisation would be regulated by the CLC.
How can we tell if a Cottenham conveyancing solicitor on the Yorkshire BS panel is any good?
When it comes to conveyancing in Cottenham getting recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always recommend that you speak with the solicitor carrying out your transaction.
I have a mortgage with Bank of Ireland for my property in Cottenham. Conveyancing was finalised 12 months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Bank of Ireland?
Bank of Ireland must be informed of your intention before letting out your property as this is likely to be a breach of Bank of Ireland’s mortgage conditions. It may be that Bank of Ireland will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Bank of Ireland directly. You need not do this via a Bank of Ireland conveyancing panel solicitor.
I know that there are debates on Chancel Insurance on online forums. Am I compelled to have this when acquiring a house in Cottenham? or I am told that there is historic law that means some house owners residing in a parish church boundary will be compelled to contribute towards repairs towards the chancel in proximity to the church. Is this appropriate for conveyancing in Cottenham?
Unless a prior acquisition of the house took place after 12 October 2013 you can assume that solicitors handling conveyancing in Cottenham to remain recommending a chancel search and or chancel repair liability policy.
Do you have any top tips for leasehold conveyancing in Cottenham from the perspective of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Cottenham can be reduced where you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold documentation which will be required by the purchasers’ representatives. If you have carried out any alterations to the property would they have required Landlord’s permission? In particular have you installed wooden flooring? Most leases in Cottenham state that internal structural alterations or installing wooden flooring calls for a licence issued by the Landlord consenting to such works. If you dont have the paperwork to hand you should not contact the landlord without checking with your solicitor before hand. If you hold a share in a the Management Company, you should ensure that you hold the original share certificate. Organising a re-issued share certificate can be a time consuming process and frustrates many a Cottenham conveyancing transaction. If a reissued share certificate is required, you should approach the company director and secretary or managing agents (if relevant) for this at the earliest opportunity. A minority of Cottenham leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers.
Cottenham Leasehold Conveyancing - Sample of Queries Prior to buying
Are any of leasehold owners in arrears of their service charge liability? Does the lease contain onerous restrictions? The majority of Cottenham leasehold properties will have a service charge for the upkeep of the building levied by the management company. If you buy the property you will have to meet this liability, normally quarterly throughout the year. This can differ from two or three hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. In all probability there will be a ground rent to be met annual, this is usually not a exorbitant sum, say about £25-£75 but you should to enquire it because on occasion it can be prohibitively expensive.
Whilst your website is a good idea there are many lawyers listed near Cottenham being on the bank conveyancing panel. Can you recommend a specific firm on the mortgage company approved panel?
We are not in the business of recommending one firm above another as the right Cottenham conveyancing firm for you depends on where your priorities lie. For example you may require a local firm with Cottenham knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the the firms listed to gain comfort as to which one is right for you..