We were just about to sign contracts for a leasehold flat in Cambourne. We encountered a problem. The loan offer with Barclays expires on 24/9/2025 but the vendors are insisting on a completion date of 26/9/2025. Is it possible to prolong the loan offer?
The person best placed to address this issue is your conveyancer who is in a position to determine whether they should be discussing with the mortgage broker, owner’s conveyancers, selling agents or possibly all three given the circumstances your house move as of today.
I have been referred to a conveyancing solicitor in Cambourne. I I am struggling to find out whether they are on the Nottingham Building Society approved list of lawyers. Could you advise?
You should contact the solicitor and enquire if they are on the lender panel. Alternatively you should call Nottingham Building Society who may be able to confirm.
I have been told that property searches are a common reason for obstruction in Cambourne conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not feature within the common causes of delays during the legal transfer of property. Local searches are not likely to feature in any holding up conveyancing in Cambourne.
I am purchasing a new build house in Cambourne with the aid of help to buy. The developers refused to budge the amount so I negotiated 6k of additionals instead. The estate agent advised me not disclose to my conveyancer about this deal as it would impact my mortgage with the lender. 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.
Can you provide any advice for leasehold conveyancing in Cambourne with the intention of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Cambourne can be bypassed where you instruct lawyers the minute you market your property and ask them to put together the leasehold documentation which will be required by the purchasers’ lawyers. If you hold a share in a the Management Company, you should make sure that you hold the original share certificate. Organising a re-issued share certificate can be a time consuming formality and slows down many a Cambourne conveyancing transaction. Where a new share is required, you should approach the company officers or managing agents (where relevant) for this at the earliest opportunity. Some Cambourne leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers. If you have carried out any alterations to the residence would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Cambourne state that internal structural alterations or laying down wooden flooring require a licence issued by the Landlord acquiescing to such changes. If you dont have the paperwork to hand do not communicate with the landlord without contacting your lawyer in advance.
Cambourne Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to Purchasing
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Best to be warned whether fixing the lift or some other significant cost is due in the foreseeable future that will be shared amongst the leaseholders and will materially impact the level of the service costs or result in a specific invoice. Its a good idea to discover as much as you can concerning the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you are often at the mercy of the managing agents both financially and when it comes to daily matters like the cleanliness of the common parts. Don't be afraid to ask other tenants what they think of their service. In conclusion, investigate as to the dates that the service charges are due to the relevant party and precisely how they are spending the funds. Most Cambourne leasehold flats will incur a service charge for maintenance of the block set by the landlord. Should you purchase the apartment you will have to pay this contribution, normally in instalments accross the year. This can vary from two or three hundred pounds to thousands of pounds for buildings with lifts and large common grounds. There will also be a rentcharge for you to pay yearly, this is usually not a exorbitant sum, say approximately £25-£75 but you should to check as on occasion it could be many hundreds of pounds.
How do I determine who is the owner of a property in Cambourne?
As long as the property is registered with HMLR, and you have requisite details of the location of the premises, you will be able to view results from the HMLR of the registered proprietor for a for less than a fiver.