I am due to exchange on the purchase of a house in Cottenham but as a consequence of wreckage from the recent storms I have was able negotiate compensation from the current proprietors in the sum of £2k by way of a reduction in the price. I had intended this to be dealt with as part of a side agreement but Aldermore will not agree to this. Should they have been informed?
Your property lawyer being on the Aldermore conveyancing panel is duty bound to advise Aldermore of any variations to the sale price. If you prohibit your lawyer to notify the reduction to Aldermore then they would have to discontinue acting for you. In addition, Aldermore and you would have to appoint a new conveyancer for your conveyancing in Cottenham.
Why is leasehold purchase conveyancing in Cottenham costs more?
Cottenham leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving relevant notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
My lender has recommended a law firm on their panel based in Cottenham but I would rather choose a conveyancing lawyer in Cottenham round the corner to me. Are you able to assist?
Far from all Cottenham conveyancing practitioners are approved and listed on all banks conveyancing panel. Use our find an approved solicitor tool to find a Cottenham conveyancing solicitor on the on the mortgage company panel.
Me and my partner are buying a property in Cottenham. It might be a silly question but how we can trust a lawyer? At some point we will need to deposit our life savings into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Is it the case that all Cottenham solicitors on the Nottingham conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the Nottingham approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. The majority of banks do allow licenced conveyancers on their panel in which case such organisation would be regulated by the Council of Licensed Conveyancers.
I am expecting a AIP from Co-operative this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Co-operative recommend any Cottenham solicitors on the Co-operative conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Cottenham solicitors independently although you'll need to choose one on the Co-operative conveyancing panel. The solicitor represents both you and Co-operative through the process.
I used Stirling Law several years past for my conveyancing in Cottenham. Now, I need the documents but cannot find the solicitor. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Cottenham of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am employed by a long established estate agency in Cottenham where we see a number of leasehold sales put at risk due to short leases. I have received conflicting advice from local Cottenham conveyancing solicitors. Please can you confirm whether the seller of a flat can instigate the lease extension process for the buyer?
Provided that the seller has been the owner 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 can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord 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 buyer.
Leasehold Conveyancing in Cottenham - A selection of Queries before buying
What restrictions are contained in the Cottenham Lease? How much is the ground rent and service charge? Are there any major works anticipated that will add a premium to the service charges?