Why is leasehold purchase conveyancing in Cambridge costs more?
In short, leasehold conveyancing in Cambridge and elsewhere usually requires additional hours of investigation compared to freehold conveyancing. This includes reviewing the lease, liaising with the landlord concerning serving required notices, procuring up-to-date service charge and management information, procuring the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first entered into.
Just had an offer accepted on a new build apartment in Cambridge. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Cambridge
The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
How easy is it to change solicitor as I need to find one who is on the Santander conveyancing panel. I instructed a family conveyancing solicitor in Cambridge round the corner but he is not accepted by Santander
We will our best to assist in finding you a conveyancing solicitor in Cambridge on the Santander panel. Please note that the property lawyers that we work with do not pay us fee if you instruct them and are fully regulated by the Solicitors Regulation Authority who regulate all conveyancing solicitors in Cambridge. In utilising search facility on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Cambridge.
As co-executor for the estate of my father I am disposing of a property in Neath but I am based in Cambridge. My conveyancer (who is 260 kilometers from merequires that I sign a statutory declaration ahead of the transaction finalising. Could you suggest a conveyancing lawyer in Cambridge to witness this legal document for me?
strictly speaking you are not likely to be required to have the documents witnessed by a conveyancing solicitor. Normally or notary public or solicitor will suffice regardless of whether they are located in Cambridge
I am on look out for some leasehold conveyancing in Cambridge. Before I set the wheels in motion I require certainty as to the remaining lease term.
If the lease is registered - and 99.9% are in Cambridge - then the leasehold title will always include the basic details 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.
Leasehold Conveyancing in Cambridge - A selection of Questions you should consider Prior to buying
Make sure you enquire if the the lease includes any adverse restrictions in the lease. For instance it is reasonably common in Cambridge leases that pets are not permitted in certain buildings in Cambridge. If you like the flatin Cambridge yet your cat is not allowed to move with you then you have a very hard determination. The best form of lease structure is a share of the freehold. In this arrangement the leaseholders benefit from being in charge if their destiny and even though a managing agent is often employed where the building is larger than a house conversion, the managing agent acts for the leaseholders themselves. Does this lease have more than 80 years left?