Glossary

How do I know if the house I am buying or selling is leasehold?

If you are buying this will be stated in the estate agents particulars. If you own the property you will no doubt be aware whether you have a leasehold because you will be paying ground rent and service charges to your landlord.

How do I know if my property is registered?

Your solicitor will be able to find out very quickly, but as a guide if you have bought the property in the last 25 years in the City of Cambs or the last 10 years in the surrounding villages or remortgaged it in the last 5 years it is likely to be registered. Also if you can remember signing a document called a transfer or TR1 when you bought it will be registered. If you look through your papers and find ‘office copies’ it is registered.

Do I need abortive fees insurance?

This will guarantee that you will not incur legal fees if the transaction goes off. Unfortunately many cases do fall through and it is a good way of giving you peace of mind. Remember that you will still have to pay any search fees we have incurred.

What is an environmental search and insurance?

It is always worth considering whether the property you are buying is built on land previously contaminated. This would relate back to a former use of the land before it was developed, like for example a petrol filling station or farm. A simple search can put your mind at rest, and for a small extra cost you can have the added protection of insurance.' A brand new property does have some protection limited to the first 10 years if covered by an NHBC certificate.