Can you explain why leasehold purchase conveyancing in Cambridge costs more?
Cambridge leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving relevant notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
My bank has recommended a law firm on their panel based in Cambridge but I would rather use a conveyancing lawyer in Cambridge round the corner to me. Can you help?
Far from all Cambridge conveyancing solicitors are listed all lender’s conveyancing panel. Please make the most of our find an approved solicitor tool to choose a Cambridge conveyancing solicitor on the on the lender panel.
Will commercial conveyancing searches reveal impending roadworks that could impact a commercial premises in Cambridge?
Its becoming the norm that commercial conveyancing solicitors in Cambridge will carry out a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in Cambridge. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Cambridge.
For each commercial conveyancing transaction in Cambridge it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately can cause delays to Cambridge commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not carried out for residential conveyancing in Cambridge.
I am buying my first flat in Cambridge with a mortgage from Skipton Building Society. The builders would not budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative advised me not to tell my solicitor about the extras as it will put at risk my loan with Skipton Building Society. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I have just started marketing my garden apartment in Cambridge. Conveyancing solicitors are to be appointed soon, however I have just had a quarterly maintenance charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is discharge the invoice as usual as all rents and maintenance payments should be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I inherited a split level flat in Cambridge, conveyancing was carried out 9 years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Cambridge with an extended lease are worth £201,000. The average or mid-range amount of ground rent is £45 per annum. The lease expires on 21st October 2090
With just 65 years left to run we estimate the premium for your lease extension to range between £13,300 and £15,400 plus professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.
Me and my husband accepted an offer on a Cambridge ground floor flat left to us 5 years ago in 2009. I have over ten years conveyancing knowledge and, now retired, see no reason not to conduct my own legal work. The buyer's property lawyer has informed me that their mortgage company will not allow us to do our own conveyancing requiring the funds to be released via a solicitor's bank account.
Mortgage requirements to lawyers from all CML members state that If the seller does not have legal representation the purchaser’s lawyers should check whether the lender needs to be told so that a decision can be made as to whether they are prepared to proceed.