My fiance and I changing mortgage lender for our apartment in Cambridgeshire with UBS. We have a son 19 who lives at home. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the property is repossessed. I have a couple of concerns (1) Is this document specific to the UBS conveyancing panel as he never had to sign this form when we purchased 5 years ago (2) Does our son by signing this extinguish his rights to inherit the property?
First, rest assured that your UBS conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to UBS. This is solely used to protect UBS if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of UBS had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I require fast conveyancing in Cambridgeshire as I am faced with an ultimatum to complete within one month. Fortunately I do not require a mortgage. Can I escape the need for conveyancing searches to save money and time?
As you are are a cash buyer you have the choice not to have searches conducted although no law firm would recommend that you don't. With plenty of history conveyancing in Cambridgeshire the following are examples of issues that can arise and therefore impact future saleability: Enforcement Actions, Overdue Charges, Overdue Grants, Railway Schemes,...
I am downsizing from my home. My former lawyers has retired. It would be helpful to have a recommendation of a conveyancing firm. Im based in Cambridgeshire if that makes things easier.
You should use our search tool to help you find a solicitor for your conveyancing in Cambridgeshire. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great price which is making it all the more appealing. I have just been informed that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Cambridgeshire. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Cambridgeshire ?
The majority of houses in Cambridgeshire are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Cambridgeshire so you should seriously consider looking for a Cambridgeshire conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the communal areas where the property is located on an estate. Your conveyancer will appraise you on the various issues.
I inherited a 1st floor flat in Cambridgeshire, conveyancing formalities finalised June 2000. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Cambridgeshire with over 90 years remaining are worth £185,000. The ground rent is £65 per annum. The lease expires on 21st October 2079
With 61 years left to run we estimate the premium for your lease extension to be between £19,000 and £22,000 plus costs.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.
My folks are having difficulties in finding their Cambridgeshire property on the HMLR site. They recall that 48 years ago when they bought the bungalow there were complications regarding the post code not being recognised in some systems.
The vast majority of premises in Cambridgeshire should be revealed. Have you tried a search with just the postcode. Usually it should identify all the properties within that postcode. Assuming the property is recorded it will be there with a title number. Where they bought sixty years ago it's conceivable it may be unrecorded. The address might still be revealed but with the title number shown 'na'. In this scenario you will need to track down the original title deeds which could be with your parent’s mortgage company.