I am need of leasehold conveyancing for an apartment in a fairly new development (seven years old) in Cambridgeshire. Almost all the flats have already been sold. Do I need carry out the neighbourhood searches as part of conveyancing in Cambridgeshire?
Where you are obtaining a mortgage, your lender will need some (many) of the searches so you'll have no choice. If not, then Cambridgeshire conveyancing searches are for you to decide upon. No doubt your conveyancer, will ’encourage’, perhaps strongly, that you should not go ahead without searches, but he or she has a professional duty to do this. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you insist that your lawyer to proceed without searches then your lawyer will have to follow your instructions or ask you to appoint a different lawyer for your conveyancing in Cambridgeshire.
We are expecting a mortgage offer soon. The bank mentioned the mortgage came with free conveyancing. Does this mean I have to appoint their panel solicitor as I would much rather instruct a Cambridgeshire based conveyancing firm?
You should check but the chances are that appoint one of their panel solicitors where you want the "fee-free" offer. Speak to the mortgage company to see if they offer you a cash alternative. Some mortgage companies have previously offered a £250 cashback as a further option in which case that money can go towards your preferred conveyancing solicitor in Cambridgeshire.
I am buying a 4 bedroom semi-detached house in Cambridgeshire. The intention is to an extension at the rear at the property.Will legal due diligence on the property include checks to ascertain if these works were previously refused?
Your property lawyer should review the registered title as conveyancing in Cambridgeshire can on occasion reveal restrictions in the title deeds which prohibit certain works or necessitated the consent of another owner. Some extensions call for local authority planning consent and approval in accordance building regulations. Some areas are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. You should check these issues with a surveyor ahead of any purchase.
Can you point me to a directory of Bank of Ireland panel solicitors in Cambridgeshire on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such directory service on the CML or Building Society Association sites. Very few lenders make their panel listings open the public online. Where you are seeking to appoint a Cambridgeshire property lawyer on the Bank of Ireland please make the most of our tool.
I am selling my apartment. I had a double glazing fitted in January 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Kent Reliance are being difficult. The Cambridgeshire solicitor who is on the Kent Reliance conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Kent Reliance are insisting on a building regulation certificate. Why do Kent Reliance have a conveyancing panel if they don't accept advice from them?
It is probably the case that Kent Reliance have referred the matter to their valuer. The reason why Kent Reliance 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'm buying a new build house in Cambridgeshire with a loan from HSBC Bank. The sellers refused to reduce the price so I negotiated £7000 of fixtures and fittings instead. The sale representative advised me not reveal to my lawyer about this extras as it may jeopardize my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Given that I am about to part with over three hundred thousand on a house in Cambridgeshire I would like to have a conversation with the conveyancer concerning theconveyancing ahead of instructing the firm. Is this something that you can arrange?
We could not agree more - it is our preference to talk to you we do not take any clients on without you speaking to the lawyer due to be carrying out your conveyancing in Cambridgeshire.There is no ‘factory style conveyancing’ - every client is unique person, not a case number. The solicitors that we put you in touch with believe that the figure you are calculated and presented to you for your conveyancing in Cambridgeshire should be the figure that you are charged.
I am tempted by the attractive purchase price for a couple of apartments in Cambridgeshire both have approximately 50 years left on the leases. Should I regard a short lease as a deal breaker?
A lease is a right to use the premises for a period of time. As a lease gets shorter the value of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason it is advisable to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this arena.
I own a garden flat in Cambridgeshire, conveyancing was carried out December 2012. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Cambridgeshire with a long lease are worth £185,000. The average or mid-range amount of ground rent is £65 yearly. The lease ceases on 21st October 2087
With 61 years unexpired the likely cost is going to be between £18,100 and £20,800 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.