I have given 2 months notice to my current landlord and have to be out of my let out apartment in Cambridge by the end of next month. Conveyancing on my purchase is underway. How realistic is it to complete in six weeks as I wish to avoid having to move into temporary accommodation?
It is unwise to provide notice on a rental until your lawyer suggests that you should. Assuming that you have not previously done so, update to your lawyer and urge them to they cajole the other lawyers, try to get a realistic time scale from them that all parties will work towards
I am the single beneficiary of my late grandmother’s will with all property in now in my sole name, including the my former home in Cambridge. Conveyancing formalities meant that the Land Registry date was in July. I plan to dispose of the property. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my proprietorship could be considered the same way as if I'd bought the house in July. Will no one buy the property for half a year?
The CML handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be impacted by that. How sensible a view mortgage companies take of it, depend on the lender as this obligation is primarily there to identify the purchase and immediately sell or the wholesaling and assigning of property.
The formalities of my remortgage has taken place for my property in Cambridge. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
All lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. In most cases complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
It is not clear whether my mortgage offer requires a lease extension. I have telephoned my Cambridge bank branch on various occasions and was told it does not affect the mortgage offer and they would lend. My Cambridge conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they refuse to lend based on their specific requirements. Who do I believe?
As long as the solicitor is on the bank approved list, she or he must follow the CML Handbook conditions for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Despite weeks of looking the Title Certificate and documents to my property are lost. The solicitors who dealt with the conveyancing in Cambridge 4 years ago no longer exist. What do I do?
In today’s world there are copies made of almost everything, and your conveyancer should be aware exactly where to locate all the relevant paperwork so you may buy or dispose of your property without a hitch. Where copies are not available, your conveyancer can arrange cover in the form of insurance or indemnities protecting you against possible claims on the premises.
I am looking for a flat up to £195,000 and identified one near me in Cambridge I like with amenity areas and railway links in the vicinity, however it's only got 52 years unexpired on the lease. I can't really find anything else in Cambridge for this price, so just wondered if I would be making a grave error acquiring a short lease?
If you need a home loan that many years may be an issue. Discount the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.
I am looking to sell my house. My former conveyancers has retired. I am in need of a recommendation of a conveyancing firm. I happen to live in Cambridge if that makes a difference.
Do use our search tool to help you choose a solicitor for your conveyancing in Cambridge. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
Completion is due on the disposal of our £300,000 garden flat in Cambridge next Monday. The management company has quoted £300 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Cambridge?
Cambridge conveyancing on leasehold apartments normally involves the buyer’s solicitor sending questions for the landlord to address. Although the landlord is not legally bound to address such questions most will be content to assist. They are at liberty to levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some cases it exceeds £800. The management information fee demanded by the landlord must be sent together with a summary of entitlements and obligations in relation to administration charges, without which the charge is technically not due. Reality however dictates that you have no option but to pay whatever is demanded if you want to sell the property.
I purchased a basement flat in Cambridge, conveyancing formalities finalised November 1997. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Cambridge with over 90 years remaining are worth £222,000. The ground rent is £50 invoiced annually. The lease ends on 21st October 2096
You have 71 years unexpired we estimate the price of your lease extension to be between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.