We are purchasing a 2 bedroom apartment in Cambridge with a mortgage. We like our Cambridge conveyancer, but the lender advise she’s not on their "panel". It seems we have little choice but to use one of the mortgage company panel solicitors or continue with our Cambridge lawyer and pay for one of their panel lawyers to act for them. We regard this is unjust; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Cambridge conveyancing solicitor to apply to be on the conveyancing panel.
My fiancee and I are acquiring our first house. Our solicitor has texted usto see if we would like to take out additional conveyancing searches. We are really unsure what's recommended for conveyancing in Cambridge
The type of Cambridge conveyancing searches depends entirely on the premises, the location, the probability of any of these risks, your familiarity of the area and risks, your overall approach to risk. What is important is that you properly comprehend what information each search could give you. Then you can decide if you consider that you need that search. If in doubt, ask the solicitor to provide guidance.
Finally the sale completed on my house in Cambridge last March but my buyer keeps SMS messaging daily complaining that her conveyancer is waiting to hear from mylawyer. What are the post completion sale formalities now that I have sold?
Following your disposal your conveyancer should forward the transfer deeds and all supplemental paperwork to the purchaser's conveyancer. If applicable, your conveyancer should also confirm that the home loan has been redeemed to the buyers conveyancers. There are no post completion tasks unique to conveyancing in Cambridge.
How do I investigate if the solicitor carrying out my conveyancing in Cambridge is on the bank’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Virgin Money thus spending £187.00 plus VAT in further legal bill.
Please do make use of the search tool on this site. Please choose the lender and type ‘Cambridge’ or your preferred area and you will discover numerous solicitors offices in Cambridge or by proximity to you.
My friend advised me that where I am purchasing in Cambridge I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually included in the estimate for your Cambridge conveyancing searches. It is not a small report of about 40 pages, listing and setting out important information about Cambridge around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with maps and statistics, Local Amenities and other useful data concerning Cambridge.
I today plan to offer on a house that seems to be perfect, at a reasonable figure which is making it all the more appealing. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Cambridge. Conveyancing advisers have not yet been appointed. Will they explain the issues?
Most houses in Cambridge are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can assist with the conveyancing process. it is apparent that you are buying in Cambridge in which case you should be looking for a Cambridge conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is located on an estate. Your solicitor should report to you on the legal implications.
Cambridge Conveyancing for Leasehold Flats - Examples of Queries Prior to buying
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The answer will be useful as a) areas may result in problems in the block as the communal areas may begin to deteriorate if repairs are not paid for b) if the leaseholders have an issue with the managing agents you will want to have all the details You should be aware if it is less than 80 years it will impact the value of the flat. Check with your lender that they are happy with residual term of the lease. Leases with fewer than 80 years remaining means that you will probably have to extend the lease sooner rather than later and it is worth finding out how much this will be. Remember, in most cases you will need to own the premises for two years before you are entitled to carry out a lease extension. Is anyone aware of any major works on the horizon that will likely add a premium to the maintenance charges?