It has been 2 months since my purchase conveyancing in Cambridge completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am buying a new build house in Cambridge benefiting from help to buy. The builders refused to move on the amount so I negotiated £7000 of additionals instead. The house builders rep advised me not inform my lawyer about the extras as it could jeopardize my mortgage with the bank. Do I keep my lawyer in the dark?.
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 am looking for a flat up to £305k and found one near me in Cambridge I like with a park and railway links nearby, however it's only got 52 years on the lease. There is not much else in Cambridge in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term will be problematic. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least twenty four months you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
What is different about your site and other online quote calculators when it comes to conveyancing in Cambridge?
At this site get a fixed fee costs illustration from a Solicitor or Licensed Conveyancer that has a full understanding of the issues of your conveyancing in Cambridge. Unlike many estate agents and many comparison sites we do not charge firms a fee if you choose them for your property ownership legalities in Cambridge
There are only 72 years remaining on my flat in Cambridge. I now want to extend my lease but my landlord is absent. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. You will be obliged to prove that you have used your best endeavours to track down the landlord. For most situations an enquiry agent would be useful to conduct investigations and to produce a report which can be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on proving the landlord’s absence and the application to the County Court covering Cambridge.
I inherited a 1st floor flat in Cambridge, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Cambridge with an extended lease are worth £180,000. The ground rent is £65 yearly. The lease ends on 21st October 2084
With 59 years unexpired we estimate the premium for your lease extension to range between £20,900 and £24,200 plus legals.
The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.
Being a tenant I am liable for a service charge for my flat in Cambridge. Due to redundancy and other issues I fell into arrears with payments. I negotiated a settlement schedule but there remains three grand currently due.
I am under pressure to dispose of the property and I am concerned this could jeopardize the sale if I have to settle the arrears now. Do I have to settle before - is this possible?
You should check with the solicitor handling your Cambridge conveyancing but it might be possible to arrange for the arrears to be transferred to the buyers. The contractual price they pay would be adjusted to reflect the amount of debt they take on. They could then deal with the outstanding monies once they are the owners.