We are purchasing a house and the conveyancer has referenced Chancel Repair for which the house could be liable given it’s proximity to the area of such a church. She has suggested insurance. Is this really required for conveyancing in Waterbeach
Unless a prior purchase of the premises took place post 12 October 2013 you can take it that lawyers handling conveyancing in Waterbeach to continue to propose a a chancel search and or chancel repair liability policy.
How does conveyancing in Waterbeach differ for new build properties?
Most buyers of new build residence in Waterbeach approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is completed. This is because developers in Waterbeach usually purchase the land, 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 conveyancers 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 Waterbeach or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a house I have offered on last month in what should have been a straight forward, chain free conveyancing. Waterbeach is where the house is located. What do you suggest?
Flying freeholds in Waterbeach are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Waterbeach you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Waterbeach may determine 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.
I need to retain a conveyancing solicitor for some conveyancing in Waterbeach. I happened to chance upon a site which looks to be the perfect offering If it is possible to get all formalities completed via web that would be ideal. Should I 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?
My wife and I purchased a leasehold house in Waterbeach. Conveyancing and National Westminster Bank mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Waterbeach who previously acted has long since retired. Any advice?
First make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. There is no need to instruct a Waterbeach conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Waterbeach Conveyancing for Leasehold Flats - Examples of Questions you should consider before buying
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You will want to discover as much as possible regarding the company managing the block as they will affect your use and enjoyment of the property. Being a leasehold owner you are frequently at the mercy of the managing agents both financially and when it comes to daily matters such as the tidiness of the common parts. Ask prospective neighbours what they think of their management. On a final note, find out the dates that the service fees are due to the managing agents and precisely what it includes. Plenty Waterbeach leasehold flats will have a service bill for the upkeep of the block levied on behalf of the freeholder. Should you buy the property you will have to meet this amount, normally in instalments during the year. This could vary from a few hundred pounds to thousands of pounds for buildings with lifts and large common grounds. There will also be a ground rent to be met annual, ordinarily this is not a large sum, say approximately £25-£75 but you should to enquire as sometimes it could be many hundreds of pounds. Please note if it is no more than 80 years it will affect the value of the property. Check with your lender that they are willing to to proceed given the lease term. Leases with fewer than 80 years remaining means that you will most likely have to extend the lease at some point and it is worth discovering how much this will be. For most Waterbeachlease extensions you would be required to have owned the residence for 24 months in order to be entitled to extend the lease.
I am buying a ground floor flat in Waterbeach. Conveyancing solicitor has been awaiting, from the vendor, building insurance documents. This afternoon I was informed that the owner needs to send the insurance schedule for the flat above also. Why would my lawyer need to review the insurance for the flat above? Is it really necessary? We have been in hold for the previous fortnight…
It is not impossible in leasehold conveyancing in Waterbeach to find Conveyancing in Waterbeach in a minority of cases reveals that the lease requires the tenant's to insure their individual flats as opposed to the freeholder insuring the whole property - which is definitely preferable. You should check with your lawyer but it would appear that your conveyancing practitioner is looking to establish that the complete building is insured. Insuring a ground floor flat is no help when it comes to rebuilding after a fire if the other flat cannot be reinstated as a result of lack of insurance cover.