Do all mortgage companies provide you with an approved list of Ely conveyancing solicitors? How do you know who is on the Virgin Money conveyancing panel?
Ely conveyancing firms themselves provide us confirmation that they are on the Virgin Money conveyancing panel as opposed to being supplied with a list from Virgin Money directly.
I am buying a house and require a conveyancing solicitor in Ely who is on the The Royal Bank of Scotland solicitor. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for The Royal Bank of Scotland in certain locations such as Ely. We dont recommend any particular firm.
I used Action Conveyancing several years ago for my conveyancing in Ely. Now, I need my files but the law firm has closed. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracing 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 Ely of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Ely differ for newly converted properties?
Most buyers of new build residence in Ely contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is finished. This is because new home sellers in Ely typically purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Ely or who has acted in the same development.
I am looking for a leasehold apartment up to £235,500 and identified one near me in Ely I like with open areas and station nearby, the downside is that it only has 52 years on the lease. There is not much else in Ely for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a mortgage that many years will be problematic. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of 2 years you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.
Can you offer any advice when it comes to appointing a Ely conveyancing firm to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Ely conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Ely conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be of use:
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How familiar is the practice with lease extension legislation?
Leasehold Conveyancing in Ely - A selection of Queries before buying
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The prefered form of lease structure is a share of the freehold. In this situation the leaseholders have being in charge if their destiny and notwithstanding that a managing agent is often retained if it is bigger than a house conversion, the managing agent is directed by the tenants. Is there a share of the freehold? Where a Ely lease has less than eighty years it will affect the value of the flat. Check with your lender that they are content with the length of the lease. A short lease means that you will probably have to extend the lease at some point and you need to have some idea of how much this will be. For most Elylease extensions you will be required to have owned the premises for 24 months before you are legally able to extend the lease.