I am in the process of selling my maisonette in Comberton and the EA has just called to warn that the buyers are appointing a new conveyancer. The reason given is that the bank will only engage with solicitors on their conveyancing panel. On what basis would a big named mortgage company only engage with specific lawyers rather the firm that they want to choose for their conveyancing in Comberton ?
UK lenders have always had an approved set of law firms that can represent them, but in the last few years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Lenders point to the increase in fraud as the reason for the reduction – criteria have been narrowed as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are unlikely to have any impact on this.
I have Fifty Six years remaining on my lease and require a lease extension for my flat in Comberton. Conveyancing solicitors on the Chelsea Building Society panel can deal with such extensions correct?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 4/7/2025 the requirements read as follows :
I have recentlyfound out that Wolstenholmes have closed. They carried out my conveyancing in Comberton for a purchase of a leasehold flat 10 months ago. How can I establish that the property is registered correctly in the name of the previous owner?
The quickest way to check if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Comberton conveyancing specialists.
Just had an offer accepted on a new build apartment in Comberton. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Comberton
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There must be mutual enforceability of lessee’s covenants. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply a car parking plan.
I am looking at a two maisonettes in Comberton which have in the region of forty five years remaining on the lease term. Will this present a problem?
There are no two ways about it. A leasehold apartment in Comberton is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the marketability of the premises. The majority of buyers and banks, leases with under eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Comberton conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I am the registered owner of a ground floor flat in Comberton, conveyancing formalities finalised 4 years ago. How much will my lease extension cost? Equivalent properties in Comberton with over 90 years remaining are worth £211,000. The ground rent is £45 yearly. The lease expires on 21st October 2092
With just 67 years remaining on your lease we estimate the price of your lease extension to range between £10,500 and £12,000 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.
My wife and I are are looking to find a value for money conveyancing lawyer in Comberton to buy a flat. I I am concerned about by bill escalating out of control but with plenty Comberton conveyancing organisations to choose from...how do I know which one is best to select?
To get quotes for your move via conveyancing firms that provide services in Comberton please make the most of our quote tool.