We had appointed solicitors with offices in Cranfield on the Barclays solicitor panel. They have just invoiced me a further sum for dealing with the Barclays mortgage. Is this an additional conveyancing fee set by Barclays?
As unfair as it may appear, as long as it’s in their Terms and Conditions or estimate then yes your lawyer can levy a fee for this. This charge is not set by Barclays but by your Cranfield conveyancing practitioner. Numerous firms on the Barclays panel will quote an ‘acting for lender’ fee and others do not.
I am selling my house. I had a double glazing fitted in April 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Barclays are being pedantic. The Cranfield solicitor who is on the Barclays conveyancing panel is saying indemnity insurance will be fine but Barclays are requiring a building regulation certificate. Why do Barclays have a conveyancing panel if they don't accept advice from them?
It is probably the case that Barclays have referred the matter to their valuer. The reason why Barclays may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I have instructed a Cranfield property lawyer having made sure that they are on the Principality conveyancing panel. Does my lawyer arrange the survey of the property?
Principality will need an independent valuation of the property. Your lawyer will not arrange this. Usually Principality will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Cranfield surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Me and my brother have a semi-detached Victorian property in Cranfield. Conveyancing lawyer represented me and Barclays Direct. I did a free Land Registry search last week and there are two entries: the first freehold, another for leasehold with the matching property. I'd like to know for sure, how can I find out??
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Cranfield and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the situation with the conveyancing lawyer who conducted the purchase.
I'm buying my first flat in Cranfield benefiting from help to buy. The builders would not budge the amount so I negotiated 6k of extras instead. The estate agent advised me not disclose to my solicitor about the deal as it may jeopardize my mortgage with the lender. Is this normal?.
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.
I've recently found out that there is a flying freehold element on a property I put an offer in two weeks back in what should have been a simple, no chain conveyancing. Cranfield is the location of the property. What do you suggest?
Flying freeholds in Cranfield are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Cranfield you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cranfield 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 property.
We're novice buyers - agreed a price, but the property agent informed us that the seller will only go ahead if we instruct their chosen lawyers as they need a ‘quick sale’. My instinct tells me that we should use a local conveyancer who is accustomed to conveyancing in Cranfield
It is improbable the vendors are driving this. If they desire ‘a quick sale', alienating a serious buyer is likely to cause more damage than good. Avoid the agents and go straight to the sellers and make the point that (a)you are keen to buy (b)you are ready to progress, with finances arranged © you are chain free (d) you intend to proceed fast (e)but you are going to instruct your preferred Cranfield conveyancing solicitors - rather thanthe ones that will earn the negotiator at the agency a introducer fee or meet his conveyancing figures set by corporate headquarters.
We own a leasehold flat in Cranfield. Conveyancing was completed in 2010. I have read on a number of advice forums that I mustn’t let the the remaining lease term to get too short. What is the reasoning?
Cranfield leasehold properties are for a set period - normally ninety nine years when they commenced. However a significant appartments in Cranfield were built or converted 20 or more years ago and so these leases now have under 80 years remaining. This may sound like plenty of time however Banks, Building Societies and other mortgage companies tend to require leases to have at least seventy five years remaining to be mortgageable. Accordingly when you come to sell the property you will need to extend the term of your lease if you are nearing seventy five years. To enhance your property value you should be thinking about whether to extend your lease well in advance of selling the property. Please note that there are advantages to doing so before the lease hits eighty years as when the lease is below eighty years the amount to be paid to extend starts to escalate.