I am selling my apartment in Cambridgeshire. Will the solicitor have to be on the Kent Reliance conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Kent Reliance conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently at the moment.
Are there restrictive covenants that are commonly identified during conveyancing in Cambridgeshire?
Covenants that are restrictive in nature 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…’
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what should have been a quick, no chain conveyancing. Cambridgeshire is where the house is located. Is there any guidance you can impart?
Flying freeholds in Cambridgeshire are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Cambridgeshire you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cambridgeshire may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I have been pointed in your direction by a few property agents in Cambridgeshire to locate a property lawyer on your site. What’s the financial upside for Estate Agents to offer your lawyers ahead of a competitor’s?
We refuse to make any referral fee for pointing buyers and sellers in our direction. We found it would be just too difficult to pay a commission because home movers will think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
I would like to let out my leasehold apartment in Cambridgeshire. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
The lease dictates the relationship between the freeholder and you the flat owner; specifically, it will say if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Cambridgeshire do not prevent subletting altogether – such a provision would undoubtedly devalue the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.
I purchased a garden flat in Cambridgeshire, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Cambridgeshire with a long lease are worth £206,000. The average or mid-range amount of ground rent is £45 levied per year. The lease finishes on 21st October 2090
You have 66 years left to run we estimate the premium for your lease extension to be between £11,400 and £13,200 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you 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 issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.
Is it true that a Cambridgeshire conveyancing firm got sued by clients for not carrying out the right conveyancing investigations?
We are not aware of such a Cambridgeshire conveyancing claim but according to a recent report, clients purchasing a property in Cumbria successfully won a case against their conveyancer as a consequence of development plans to construct a wind farm not being picked up in conveyancing searches.
Where you are buying in Cambridgeshire It is essential that your lawyer purchase all Cambridgeshire conveyancing searches needed making sure that you have accurate and up to date information ahead of acquiring a property.