Please explain the implications if my lawyer’s firm is removed from the Yorkshire BS Conveyancing panel ahead of completing my conveyancing in St Neots?

The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.

I used Arc property Solicitors a few years ago for my conveyancing in St Neots. I now require my papers however cannot find the solicitor. What do I do?

You should contact the Solicitors Regulatory Authority (SRA) to assist in tracking down 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 St Neots of the conveyancing firm of solicitors you previously instructed, 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 St Neots differ for newly converted properties?

Most buyers of new build or newly converted property in St Neots come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is constructed. This is because builders in St Neots 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 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 St Neots or who has acted in the same development.

I'm converting the mortgage on my primary home to a BTL loan with Barclays and I will use the ballance of the raised equity as a deposit on another property. The location we are interested in is St Neots. Will your solicitors be able to act for both sets of lenders and tie in the conveyances?

Do use our comparison tool on this site to be sure that the lawyers are on the appropriate lender panels. Having checked that they are your solicitor will be able to connect the two conveyancing matters but you should have a chat with you lawyer and make apparent your expectations and requirements.

I am attracted to a two maisonettes in St Neots both have in the region of fifty years remaining on the leases. Do I need to be concerned?

There is no doubt about it. A leasehold apartment in St Neots is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the salability of the premises. The majority of buyers and lenders, leases with less than eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with St Neots conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Leasehold Conveyancing in St Neots - A selection of Queries before Purchasing

It would be wise to find out as much as you can about the managing agents as they will impact your use and enjoyment of the property. As the owner of a leasehold property you are often in the clutches of the managing agents from a financial perspective and when it comes to practical issues like the tidiness of the communal areas. Ask prospective neighbours whether they are happy with them. On a final note, investigate as to the dates that you are obliged pay the service charge to the managing agents and specifically how they are spending that money. Who takes charge for maintaining and repairing the building? The best form of lease structure is a share of the freehold. In this situation the leaseholders benefit from being in charge if their destiny and even though a managing agent is frequently employed if the building is bigger than a house conversion, the managing agent is directed by the tenants.