I am purchasing a right to buy a flat in Cudham. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Cudham you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Cudham.
What is the difference between a licensed conveyancer and conveyancing solicitor in Cudham
Two types of professional can do conveyancing in Cudham namely licenced conveyancers or solicitors. Both professionals handle the legal services that you need to complete the disposal or purchase of property. Both are duty bound to execute Cudham conveyancing on similar quality and guidelines so you can be sure that your conveyancing will be properly administered and that the necessary steps will be suitably taken.
When it comes to lenders such as Principality, do Cudham conveyancers incur a fee to be on the conveyancing panel?
We are unaware of any mortgage company fees to be on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
Last month we had a mortgage agreed in principle with Principality. Cudham conveyancing solicitors have been appointed. How long does it take for Principality to send the offer to the lawyer?
There is no definitive answer here. Have Principality done the valuation? Have you informed Principality as to your lawyers' details and checked that your lawyers are on the Principality conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Despite weeks of looking the Title Certificate and documents to our home are lost. The conveyancers who did the conveyancing in Cudham 5 years ago are no longer around. What are my options?
Assuming the title is registered the information relating to your proprietorship will be recorded by the Land Registry with a Title Number. It is easy to execute a search at the Land Registry, identify your house and secure current copies of the property title for a small fee. Where the property is Leasehold then the Land Registry will also normally hold a file copy of the Registered Lease and again, a copy can be ordered for a small fee.
I have been on the look out for a leasehold apartment up to £195,000 and identified one near me in Cudham I like with open areas and transport links nearby, the downside is that it only has 61 remaining years left on the lease. There is not much else in Cudham for this price, so just wondered if I would be making a mistake buying a short lease?
If you need a mortgage that many years will be a potential deal breaker. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you can ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
I need to retain a conveyancing solicitor for purchase conveyancing in Cudham. I happened to land on a site which looks to be the perfect offering If it is possible to get all formalities completed via web that would be ideal. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
What advice can you give us when it comes to choosing a Cudham conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for your lease extension (regardless if they are a Cudham conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Cudham conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be useful:
How many lease extensions have they completed in Cudham in the last 12 months?
Notwithstanding our best efforts, we have been unsuccessful in seeking a lease extension in Cudham. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most certainly. We can put you in touch with a Cudham conveyancing firm who can help.
An example of a Lease Extension decision for a Cudham residence is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case related to 1 flat. The number of years remaining on the existing lease(s) was 50.57 years.