I have been told that property searches are the primary cause of delay in Lakenheath conveyancing transactions. Is this right?

The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not figure within the common causes of delays during the legal transfer of property. Searches are not likely to feature in any holding up conveyancing in Lakenheath.

I'm purchasing my first flat in Lakenheath with the aid of help to buy. The developers would not move on the price so I negotiated five thousand pounds worth of additionals instead. The property agent advised me not inform my conveyancer about this side-deal as it could impact my loan with the bank. Do I keep my lawyer in the dark?.

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.

Over the last few months I have been searching for a ground for flat up to £305k and identified one near me in Lakenheath I like with open areas and transport links nearby, the downside is that it's only got 49 remaining years left on the lease. There is not much else in Lakenheath suitable, so just wondered if I would be making a mistake buying a lease with such few years left?

Should you need a mortgage that many years may be an issue. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.

Hoping to buy a property located in Lakenheath and I am already nervous. I couldn't find anything specific about Lakenheath. Conveyancing will be needed in due course but do you know about the Lakenheath area? or perhaps some other tips you can share?

Rather than looking online forget looking online you should go and have a look at Lakenheath. In the meantime here are some basic statistics that we found

I have just started marketing my 2 bed apartment in Lakenheath. Conveyancing solicitors are to be appointed soon, however I have recently received a half-yearly maintenance charge demand – Do I pay up?

The sensible thing to do is discharge the invoice as usual as all rents and maintenance charges will be apportioned on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I acquired a ground floor flat in Lakenheath, conveyancing was carried out in 1996. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Lakenheath with a long lease are worth £195,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease runs out on 21st October 2087

With just 63 years left to run we estimate the premium for your lease extension to range between £16,200 and £18,600 as well as professional fees.

The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.