Me and my partner are purchasing our first house. The property lawyer has contact usto ask if we would like to order additional conveyancing searches. We are really unsure what's appropriate for conveyancing in Freshwater

The extent of Freshwater conveyancing searches should be dictated primarily on the property, the location, the possibility of any of these risks, your knowledge of the locality and risks, your general approach to risk. What is important is that you adequately understand what information the searches could supply. Then you can decide if you personally think you need that information. If unsure, ask the conveyancing practitioner to explain.

Various web forums that I have visited warn that are the main cause of delay in Freshwater house deals. Is this right?

The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not figure amongst the common causes of hindrances during the legal transfer of property. Searches are not likely to feature in any slowing down conveyancing in Freshwater.

The deeds to my home can not be found. The lawyers who conducted the conveyancing in Freshwater 4 years ago are no longer around. What are my next steps?

You no longer need to have the physical original deeds to evidence that you own the land or property, as the Land Registry have everything they need in a digital format.

How can the Landlord & Tenant Act 1954 impact my commercial property in Freshwater and how can your lawyers assist?

The particular law that you refer to gives a safeguard to business lessees, granting the dueness to apply to court for a continuation of occupancy at the end of the lease term. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and handle your commercial conveyancing in Freshwater

I am looking at a two apartments in Freshwater both have about 50 years unexpired on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in Freshwater is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the value of the property. The majority of purchasers and mortgage companies, leases with less than eighty years become less and less marketable. 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 property 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 Freshwater 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. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new 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.

I acquired a ground floor flat in Freshwater, conveyancing was carried out September 1995. How much will my lease extension cost? Equivalent properties in Freshwater with over 90 years remaining are worth £202,000. The ground rent is £60 charged once a year. The lease expires on 21st October 2081

With only 57 years remaining on your lease the likely cost is going to be between £28,500 and £33,000 plus plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.