Can you explain why leasehold purchase conveyancing in Cambridgeshire is more expensive?

Cambridgeshire leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.

I have been told that property searches are a common cause of delay in Cambridgeshire conveyancing transactions. Is this right?

The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not figure within the top 10 causes of hindrances in the conveyancing process. Searches are not likely to feature in any holding up conveyancing in Cambridgeshire.

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 legal transfer of property 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…’

I'm purchasing my first flat in Cambridgeshire benefiting from help to buy. The developers would not budge the price so I negotiated 6k of extras instead. The property agent advised me not disclose to my lawyer about this side-deal as it may affect my mortgage with Coventry Building Society. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

Due to the advice of my in-laws I had a survey completed on a property in Cambridgeshire prior to instructing solicitors. I have been advised that there is a flying freehold overhang to the house. The surveyor advised that some mortgage companies may refuse to give a loan on a flying freehold premises.

It depends who your proposed lender is. HSBC has different instructions for example to Nationwide. Should you wish to telephone us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Cambridgeshire. Conveyancing will be smoother if you use a solicitor in Cambridgeshire especially if they regularly deal with such properties in Cambridgeshire.