Fixed-fee leasehold conveyancing in Cambourne:

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Sample questions relating to Cambourne leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Cambourne. Before I set the wheels in motion I require certainty as to the remaining lease term.

Assuming the lease is registered - and most are in Cambourne - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Can you offer any advice when it comes to appointing a Cambourne conveyancing practice to carry out our lease extension conveyancing?

When appointing a property lawyer for lease extension works (regardless if they are a Cambourne conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Cambourne conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

  • Can they put you in touch with client in Cambourne who can give a testimonial?
  • What are the legal fees for lease extension conveyancing?

    • Do you have any advice for leasehold conveyancing in Cambourne from the perspective of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Cambourne can be avoided where you get in touch lawyers as soon as your agents start marketing the property and ask them to collate the leasehold information which will be required by the buyers conveyancers.
    • In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Cambourne leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord approving such changes. Should you dont have the approvals to hand do not communicate with the landlord without contacting your lawyer in the first instance.
  • Some Cambourne leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • If you have had any disputes with your landlord or managing agents it is essential that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be nervous about purchasing a flat where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to present the dispute as over rather than unsettled.
  • If you are supposed to have a share in the freehold, you should make sure that you have the original share document. Arranging a duplicate share certificate can be a time consuming process and delays many a Cambourne conveyancing deal. If a reissued share is needed, do contact the company officers or managing agents (if applicable) for this sooner rather than later.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £300000 flat in Cambourne next week. The management company has quoted £300 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Cambourne?

    Cambourne conveyancing on leasehold maisonettes normally necessitates the purchaser’s conveyancer sending questions for the landlord to address. Although the landlord is not legally bound to respond to such questions most will be content to assist. They may charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some cases it exceeds £800. The administration charge required by the landlord must be sent together with a summary of rights and obligations in respect of administration charges, otherwise the charge is technically not due. In reality one has little choice but to pay whatever is requested of you if you want to complete the sale of your home.

    In relation to leasehold conveyancing in Cambourne what are the most frequent lease problems?

    There is nothing unique about leasehold conveyancing in Cambourne. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain parts of the building
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Bank of Scotland, and TSB all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the buyer to withdraw.

    Cambourne Leasehold Conveyancing - Examples of Questions you should consider Prior to Purchasing

      How much is the service charge and ground rent on the flat? Generally speaking the outlay for major works tend not to be incorporated into the service charges, although there some managing agents in Cambourne obliged leaseholders to contribute towards a reserve fund created for the specific intention of building a fund for larger repairs or maintenance. How many of the leaseholders are in arrears for their maintenance charge payments?

    Other Topics

    Lease Extensions in Cambourne