Fixed-fee leasehold conveyancing in Cambourne:

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Leasehold conveyancing in Cambourne is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Cambourne and across next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Common questions relating to Cambourne leasehold conveyancing

I am on look out for some leasehold conveyancing in Cambourne. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

If the lease is registered - and almost all 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.

Planning to exchange soon on a basement flat in Cambourne. Conveyancing solicitors assured me that they report fully next week. What should I be looking out for?

The report on title for your leasehold conveyancing in Cambourne should include some of the following:

  • You should be sent a copy of the lease
  • How long the lease is You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Setting out your legal entitlements in relation to common areas in the block.By way of example, does the lease grant a right of way over a path or staircase?
  • Repair and maintenance of the flat
  • Changes to the flat (alterations and additions)
  • What you can do if a neighbour breach a clause of their lease? For a comprehensive list of information to be included in your report on your leasehold property in Cambourne please enquire of your conveyancer in advance of your conveyancing in Cambourne

    • My wife and I purchased a leasehold flat in Cambourne. Conveyancing and Barclays mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Cambourne who previously acted has long since retired.Any advice?

    First contact HMLR to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Cambourne conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    Can you provide any top tips for leasehold conveyancing in Cambourne with the intention of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Cambourne can be avoided where you appoint lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the buyers lawyers.
    • The majority landlords or Management Companies in Cambourne levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Cambourne.
  • If there is a history of 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 reluctant to purchase a flat where a dispute is unresolved. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. 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 details of the dispute to the purchasers, but it is better to present the dispute as over as opposed to unresolved.
  • If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share certificate. Organising a duplicate share certificate is often a lengthy formality and slows down many a Cambourne conveyancing deal. Where a new share certificate is needed, you should approach the company director and secretary or managing agents (if applicable) for this as soon as possible.
  • You believe that you know the number of years remaining on your lease but you should verify this by asking your solicitors. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is under 75 years. It is therefore essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • What are the frequently found problems that you witness in leases for Cambourne properties?

    There is nothing unique about leasehold conveyancing in Cambourne. All leases are unique and drafting errors can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the building
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    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. Santander, Skipton Building Society, and Godiva Mortgages Ltd all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to withdraw.

    I acquired a leasehold flat in Cambourne, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Cambourne with over 90 years remaining are worth £228,000. The ground rent is £65 invoiced every year. The lease expires on 21st October 2095

    You have 75 years remaining on your lease the likely cost is going to range between £9,500 and £11,000 plus legals.

    The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Cambourne