Unfortunately I am unable to travel far from Cranfield. Can you please spell out why all Cranfield property lawyers aren't included on all lender panels?
Banks point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year.The dismissal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its conclusions included recommendations for mortgage companies to review their conveyancing panels, which kicked off a major policy change in the sector. This resulted in lenders pruning less reputable firms off their official list of approved property lawyers .
Why do I have to pay up front for my conveyancing in Cranfield?
If you are buying a property in Cranfield your lawyer will request that you place them with funds to cover the the cost of the conveyancing searches. Ordinarily this is asked for to cover the fees of the Local Authority Search. If any deposit is payable against the sale price then this should be needed immediately prior to exchange of contracts. The final balance that is needed should be transferred a couple of days ahead of the day of completion.
My stepmother advised me that in buying a property in Cranfield there could be various restrictions prohibiting external alterations to a property. Is this right?
There are a number of properties in Cranfield which have some sort of restriction or requirement of consent to perform external changes. Part of the conveyancing in Cranfield should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have paid off my mortgage with Clydesdale. I assume I don't need a Cranfield property lawyer on the Clydesdale panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Clydesdale mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Clydesdale mortgage from the register. Clydesdale, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Clydesdale has sent the Land Registry the discharge electronically, and
- Clydesdale has instructed the Land Registry to do so
I am due to exchange contracts on 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, Co-operative are being a right pain. The Cranfield solicitor who is on the Co-operative conveyancing panel is saying indemnity insurance will be fine but Co-operative are insisting on a building regulation certificate. Why do Co-operative have a conveyancing panel if they don't accept advice from them?
It is probably the case that Co-operative have referred the matter to their valuer. The reason why Co-operative 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.
I have been on the look out for a leasehold apartment up to £305k and identified one near me in Cranfield I like with amenity areas and railway links nearby, the downside is that it only has 61 years unexpired on the lease. There is not much else in Cranfield for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a mortgage the remaining unexpired lease term will likely be an issue. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.
Hoping to buy a property located in Cranfield and I am already nervous. I couldn't find anything specific about Cranfield. Conveyancing will be needed in due course but do you know about the Cranfield area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Cranfield. In the meantime here are some basic statistics that we found