My partner and I are hoping to purchase a property in Huntingdon and are in fact using a Huntingdon conveyancing firm. Within the last couple of days our solicitor has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Platform Home Loans Ltd have this evening contacted us to inform me that there is now an issue as our Huntingdon conveyancer is not on their conveyancing panel. What do we do from here?
If you are buying a property needing a mortgage it is conventional for the purchasers' lawyers to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel and you may continue to use your own Huntingdon solicitors, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
Why is leasehold purchase conveyancing in Huntingdon costs more?
In short, leasehold conveyancing in Huntingdon and Cambridgeshire usually requires extra work compared to freehold transactions. This includes lease investigation, corresponding with the landlord concerning serving required notices, procuring up-to-date service charge and management information, securing the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first entered into.
This question may be naive but I am unexperienced as FTB of a two bedroom flat in Huntingdon. Do I collect the keys to the property on the completion date from my lawyer? If so, I will instruct a local conveyancing solicitor in Huntingdon?
On the day of completion you do not need to go to the conveyancers office in Huntingdon. Your solicitors will electronically transfer the purchase money to the seller's solicitors, and shortly after the monies have arrived, you will be invited to collect the keys from the property Agents and move into your new home. This tends to happen early afternoon.
I have decided to exercise my right to buy my property in Huntingdon off the council. I have a mortgage agreed with Clydesdale. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Clydesdale, you will need to appoint a solicitor on the Clydesdale conveyancing panel.
After shopping around on the internet I have found a Huntingdon property lawyer having made sure that they are on the TSB conveyancing panel. Does my lawyer arrange the survey of the property?
TSB will need an independent valuation of the property. Your lawyer will not arrange this. Usually TSB 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. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Huntingdon postcode. As you are getting a mortgage with TSB, you could contact them to see if they have a list of approved surveyors in Huntingdon.
I used Wolstenholmes a few years past for my conveyancing in Huntingdon. I now require my file however cannot find the solicitor. What do I do?
You should 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 Huntingdon 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 Huntingdon differ for newly converted properties?
Most buyers of new build property in Huntingdon approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is constructed. This is because house builders in Huntingdon usually buy the real estate, 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 Huntingdon or who has acted in the same development.
I am looking for a flat up to £245,000 and identified one near me in Huntingdon I like with amenity areas and station in the vicinity, the downside is that it's only got 52 remaining years left on the lease. I can't really find anything else in Huntingdon suitable, so just wondered if I would be making a grave error acquiring a short lease?
If you require a mortgage the remaining unexpired lease term will be problematic. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.