Can you help? My Cambridgeshire conveyancer is advising me that he is legally obliged toconduct Cambridgeshire conveyancing searches resulting from the fact thatthe firm are on the Virgin Moneyapproved lawyer panel. Do I not have any options here?
You have limited options available to you. As you are taking a home loan with a bank your solicitor has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancing practitioner would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to follow the CML Handbook provisions . Even if you were a cash buyer you would be ill advised not to carry out Cambridgeshire conveyancing searches.
We are expecting a mortgage offer soon. The lender mentioned the home loan came with free conveyancing. Does this mean I have to appoint their panel lawyer as I would much rather instruct a specialised conveyancing solicitor in Cambridgeshire?
Do check but the chances are that give you one of their panel conveyancers should you take up the "fee-free" deal. Speak to the lender and check if they allow a monetary alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case that money can go towards your preferred conveyancing solicitor in Cambridgeshire.
A friend advised me that if I am buying in Cambridgeshire I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is sometimes quoted for as part of the standard Cambridgeshire conveyancing searches. It is not a small report of more than thirty pages, listing and setting out important information about Cambridgeshire 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 Property Price, Crime statistics, Cambridgeshire Education with plans and statistics, Local Amenities and other useful data concerning Cambridgeshire.
Are there restrictive covenants that are commonly identified during conveyancing in Cambridgeshire?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Cambridgeshire. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Cambridgeshire differ for new build properties?
Most buyers of new build property in Cambridgeshire approach us having been asked by the developer to sign contracts and commit to the purchase even before the premises is completed. This is because developers in Cambridgeshire typically buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Cambridgeshire or who has acted in the same development.
I have been on the look out for a flat up to £305k and identified one round the corner in Cambridgeshire I like with open areas and transport links nearby, however it's only got 51 remaining years left on the lease. I can't really find anything else in Cambridgeshire suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term will likely be problematic. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.