I am considering applying for a Virgin Money mortgage for purchase of a new build (under development) in Saffron Walden with 70% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Virgin Money ?
There is nothing to stop you using your solicitor, but Virgin Money will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
My wife and I are buying a flat in Saffron Walden. It might be a silly question but how we can trust a conveyancer? On completion day we have to deposit funds into their account. What protection do 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.
Forgive me if this question is silly but I am new to the house moving as FTB of a two bedroom flat in Saffron Walden. Do I pick up the keys to the property on completion from my solicitor? If this is the case, I will appoint a local conveyancing solicitor in Saffron Walden?
On the day of completion you will not be required to attend the conveyancers office in Saffron Walden. Conveyancing lawyers for you will transfer the purchase money to the vendor’s solicitors, and once they have received this, you will be able to collect the keys from the Estate Agents and start moving into the property. This tends to happen between 1 and 3pm.
I am selling my flat. I had a double glazing fitted in April 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Principality are being pedantic. The Saffron Walden solicitor who is on the Principality conveyancing panel is recommending indemnity insurance as a solution but Principality are insisting on a building regulation certificate. Why do Principality have a conveyancing panel if they don't accept advice from them?
It is probably the case that Principality have referred the matter to their valuer. The reason why Principality 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.
Will commercial conveyancing searches reveal impending roadworks that could affect a commercial estate in Saffron Walden?
Its becoming the norm that commercial conveyancing solicitors in Saffron Walden will carry out a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in looking into accurate data on highways that impact buildings and development assets in Saffron Walden. The search result sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Saffron Walden.
For each commercial conveyancing transaction in Saffron Walden it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately may result in delays to Saffron Walden commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not ordered for residential conveyancing in Saffron Walden.
Are there restrictive covenants that are commonly identified during conveyancing in Saffron Walden?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Saffron Walden. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one close by in Saffron Walden I like with a park and station in the vicinity, however it's only got 61 remaining years left on the lease. There is not much else in Saffron Walden in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a mortgage that many years will be problematic. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for at least twenty four months you could ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.
My wife is purchasing a leasehold maisonette in Saffron Walden. Conveyancing quotes are coming in at around £two thousand. Does that seem right?
The average cost in 2014 for conveyancing in Saffron Walden was £1,500 excluding SDLT and Land Registry fees.