We are buying a property and require a conveyancing solicitor in Cambridge who is on the Nationwide approved panel. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Nationwide . We don't recommend any particular firms conducting conveyancing in Cambridge.
About to place an offer on a leasehold apartment in Cambridge. The selling agents advise that it is standard for flats in Cambridge to have less than 75 years unexpired on the lease. I am expecting a loan with Virgin. Is this going to be a problem if the lease has 70 years left.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 16/4/2024 the requirements read as follows :
Does a directory service exist listing Nottingham panel conveyancers in Cambridge on the Building Society Association’s Website?
Unfortunately not yet. There is no such facility on the CML or Building Society Association sites. A small selection of banks make their panel listings visible on the web. If you are looking for a Cambridge conveyancing practitioner on the Nottingham please make the most of our tool.
I have decided to exercise my right to buy my property in Cambridge off the council. I have a mortgage offer with Leeds Building Society. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Leeds Building Society, you will need to appoint a solicitor on the Leeds Building Society conveyancing panel.
I am due to exchange contracts on my flat. I had a double glazing fitted in September 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Bank of Ireland are being difficult. The Cambridge solicitor who is on the Bank of Ireland conveyancing panel is saying indemnity insurance will be fine but Bank of Ireland are insisting on a building regulation certificate. Why do Bank of Ireland have a conveyancing panel if they don't accept advice from them?
It is probably the case that Bank of Ireland have referred the matter to their valuer. The reason why Bank of Ireland 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.
How does conveyancing in Cambridge differ for new build properties?
Most buyers of new build residence in Cambridge contact us having been asked by the developer to sign contracts and commit to the purchase even before the premises is built. This is because new home sellers in Cambridge typically purchase the site, 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 Cambridge or who has acted in the same development.
Am I right to be concerned by estate agents that I am dealing with are suggesting a web based conveyancing firm rather than a High Street Cambridge conveyancing firm?
As is the case with many professional services, often referrals from relatives can be very helpful. Nevertheless there are many players in a conveyancing matter; estate agents, mortgage brokers and lenders may suggest solicitors to select. Sometimes these lawyers might be known to one of the organisations as one of the best in their field, but sometimes there is an underlying commercial relationship behind the endorsement. You are free to appoint your preferred lawyer. However, bear in mind that some banks have an approved list of conveyancers you must use for the mortgage aspect of your transaction.
I am looking at a two maisonettes in Cambridge which have approximately fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Cambridge. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the saleability of the lease reduces and it becomes more expensive to acquire a lease extension. This is why it is advisable to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this area.
Cambridge Leasehold Conveyancing - Examples of Questions you should consider Prior to Purchasing
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Generally speaking the outlay for major works tend not to be wrapped into the maintenance charges, albeit that some managing agents in Cambridge require tenants to pay into a reserve fund and this is used to offset against larger repairs or maintenance. Who manages the building? Many Cambridge leasehold properties will have a service bill for the upkeep of the block levied by the management company. Where you purchase the flat you will have to meet this charge, normally in instalments during the year. This can be anything from two or three hundred pounds to thousands of pounds for buildings with lifts and large common grounds. In all likelihood there will be a ground rent to be met yearly, this is usually not a large amount, say about £50-£100 but you need to enquire as occasionally it can be many hundreds of pounds.