My IFA has requested my Chatteris lawyer’ panel member for the Nationwide conveyancing panel. Can you suggest how I discover this. I have tried my local Chatteris office but they don't know it.

The sensible thing to do is ask for this information from your Chatteris conveyancer . They retain a central record lender panel numbers.

Our god-son is about to exchange on a newly built flat in Chatteris with a home loan from Lloyds. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?

The document is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Lloyds conveyancing panel as a standard part of the process, and to the surveyor when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Lloyds conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.

As someone unfamiliar with conveyancing in Chatteris what’s your top tip you can give me concerning the ownership transfer in Chatteris

You may not hear this from too many lawyers but conveyancing in Chatteris and elsewhere in Cambridgeshire is an adversarial process. Put another way, when it comes to conveyancing there exists lots of room for conflict between you and others involved in the transaction. For example, the vendor, estate agent and even potentially a lender. Choosing a lawyer for your conveyancing in Chatteris is a critical decision as your conveyancer is your adviser, and is the SOLE party in the transaction whose interest is to act in your best interests and to protect you.

On occasion a potential adversary may attempt to persuade you that you should follow their advice. For example, the selling agent may claim to be helping by suggesting your solicitor is wrong. Or your mortgage broker may try to convince you to do take action that is contrary to your conveyancers guidance. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.

My wife and I purchased a 4 bedroom Victorian house in Chatteris. Conveyancing lawyer acted for me and Alliance & Leicester . I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, the second leasehold with the exact same property. I thought I was buying a freehold how can I check?

You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Chatteris and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the situation with your conveyancing solicitor who conducted the conveyancing.

I am looking at a couple of maisonettes in Chatteris both have about fifty years left on the lease term. Do I need to be concerned?

There are no two ways about it. A leasehold flat in Chatteris is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the value of the premises. For most buyers and banks, leases with less than 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Chatteris conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Leasehold Conveyancing in Chatteris - Examples of Queries Prior to Purchasing

Are there any major works on the horizon that could add a premium to the maintenance fees? Its a good idea to discover as much as you can about the company managing the block as they will either make your living at the property much simpler or a lot more difficult. Being a leasehold owner you will be at the mercy of the managing agents both financially and when it comes to day to day matters such as the upkeep of the communal areas. Ask other tenants what they think of their service. On a final note, investigate as to the dates that the maintenance charges are due to the appropriate party and specifically how they are spending the funds.