I am acquiring a house mortgage free in Waterbeach. I have been living for the last twelve years in Waterbeach. Conveyancing searches are expensive. Given that I know the road and vicinity very well must I have all the conveyancing searches?
In the absence of a mortgage, then all but one or two of the Waterbeach conveyancing searches are optional. Your solicitor will ’encourage you, perhaps strongly, that you should have searches completed, but she is duty bound to take that path of advice. Do bear in mind; if you are likely to dispose of the house in the future, it could be of importance to your prospective purchaser what the searches contain. There are plenty of instances where properties with day to day issues can still show up negative search results. A competent conveyancing solicitor in Waterbeach will provide you some sensible advice concerning this.
I own a freehold premises in Waterbeach but still invoiced for rent, why is this and what is this?
It is rare for properties in Waterbeach and has limited impact for conveyancing in Waterbeach but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
I have been advised by my solicitor that flying freehold insurance is required on my purchase. What is the level of cover for Waterbeach conveyancing?
The right level of flying freehold indemnity insurance depends on your lender. It would differ for example between Barclays and The Royal Bank of Scotland. Conveyancing practitioners as opposed to members of the public take out such insurances.
I am expecting a AIP from Clydesdale this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Clydesdale recommend any Waterbeach solicitors on the Clydesdale conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Waterbeach solicitors independently although you'll need to choose one on the Clydesdale conveyancing panel. The solicitor represents both you and Clydesdale through the process.
Intending to buy a house in Waterbeach. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Principality conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Waterbeach property lawyer is on the Principality conveyancing panel.
I decided to have a survey done on a house in Waterbeach ahead of appointing solicitors. I have been advised that there is a flying freehold aspect to the house. Our surveyor advised that some banks tend not give a mortgage on such a premises.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Nationwide. Should you wish to telephone us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Waterbeach. Conveyancing will be smoother if you use a solicitor in Waterbeach especially if they are familiar with such properties in Waterbeach.
My husband and I are novice buyers - agreed a price, but the agent told us that the owners will only go ahead if we use the agent's chosen lawyers as they are insisting on an ‘expedited deal’. We would rather use a high street solicitor with experience of conveyancing in Waterbeach
We suspect that the seller is unaware of this demand. If they want ‘a quick sale', taking such a hostile approach to a motivated purchaser is likely to cause more damage than good. Speak to the vendors direct and make the point that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)however you are going to use your own,trusted Waterbeach conveyancing solicitors - not the ones that will earn the negotiator at the agency a referral fee or hit his conveyancing figures pre-set by corporate headquarters.
How up-to-date is your search tool for the lender conveyancing panel in Waterbeach? Do the lenders send you an updated list?
Waterbeach law firm practices and firms conducting conveyancing in Waterbeach themselves provide us confirmation that they are on the bank conveyancing panel as opposed to being supplied with a list from the bank directly.