I was informed today by my financial adviser that my Oswestry solicitor is not on the bank Solicitor panel. How can I be sure if this is correct?

The sensible course of action for you to take is to call your Oswestry lawyer directly. You lawyer should notify you what has happened. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your mortgage company.

Should commercial conveyancing searches reveal impending roadworks that could impact a commercial land in Oswestry?

Its becoming the norm that commercial conveyancing solicitors in Oswestry will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in Oswestry. The report sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Oswestry.

For every commercial conveyancing transaction in Oswestry it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately could cause delays to Oswestry commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not carried out for domestic conveyancing in Oswestry.

How does conveyancing in Oswestry differ for new build properties?

Most buyers of new build residence in Oswestry approach us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is finished. This is because developers in Oswestry usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Oswestry or who has acted in the same development.

Expecting to complete next month on a garden flat in Oswestry. Conveyancing lawyers have said that they are sending me a report next week. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Oswestry should include some of the following:

The physical ownership of the premises. This will be the property itself but may include a roof space or basement if applicable. You would want to be sent a copy of the lease What you can do if an adjoining owner breaches a clause of their lease? Details of the parties to the lease, e.g. these could be the tennant, head lessor, freeholder The unexpired lease term. You should receive guidance as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years

I inherited a ground floor flat in Oswestry, conveyancing formalities finalised in 2009. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Oswestry with an extended lease are worth £190,000. The ground rent is £45 invoiced annually. The lease terminates on 21st October 2086

With just 62 years left to run we estimate the premium for your lease extension to range between £17,100 and £19,800 plus legals.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.

We own a leasehold flat in Oswestry. Conveyancing was completed in 2010. I have read on a number of consumer forums that I mustn’t allow the lease length get too short. What is the reasoning?

Oswestry leasehold properties are for a prescribed period - usually ninety nine years when they started. However many appartments in Oswestry were constructed or converted in the 60’s and so such leases now have under 80 years left to run. This may sound like a long time however Banks, Building Societies and other mortgage institutions on the whole need leases to have at least 75 years unexpired to be mortgageable. Accordingly when you come to sell the property you will need to extend the term of your lease if you are approaching seventy five years. To increase your property value you should be thinking about whether to extend your lease long before you come to sell it. There are also advantages to doing so before the lease hits eighty years as when the lease falls below 80 years the amount you have to pay to extend starts to get a lot more expensive.