Our conveyancer has identified a a problem with the lease for the flat we are buying in Petworth. The other side have suggested title insurance as a workaround. We are happy with insurance and will pay for it. Our conveyancer says that he must be satisfied that the lender is happy with this solution. Who is the client here, us or the bank?

Even though you have a mortgage offer from the lender does not mean to say that the property will meet their conditions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook requirements. You and the bank are the client. These conveyancing instructions have to be complied with.

I've recently found out that there is a flying freehold element on a house I put an offer in two weeks back in what should have been a quick, chain free conveyancing. Petworth is the location of the property. Can you shed any light on this issue?

Flying freeholds in Petworth are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Petworth you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Petworth may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.

What makes your site different to alternative internet conveyancing brokers for conveyancing in Petworth?

At this site receive an accurate quote via a Solicitor or Licensed Conveyancer that understands the nuances of your conveyancing in Petworth. Unlike many estate agents and brokerage sites we do not have commission arrangements with solicitors. Many agents and online brokers 'recommend' the firm paying the most per referral, as opposed to the best value conveyancing in Petworth

I am a negotiator for a long established estate agency in Petworth where we have witnessed a few flat sales derailed due to short leases. I have been given conflicting advice from local Petworth conveyancing solicitors. Please can you clarify whether the vendor of a flat can instigate the lease extension formalities for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.

An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

I purchased a studio flat in Petworth, conveyancing formalities finalised 5 years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Petworth with over 90 years remaining are worth £191,000. The ground rent is £55 invoiced annually. The lease ends on 21st October 2077

With only 53 years remaining on your lease the likely cost is going to range between £27,600 and £31,800 as well as costs.

The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you should 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.

My husband is buying a leasehold property in Petworth. Conveyancing quotes are coming in at around £two thousand. Does that seem right?

The average fee last year for conveyancing in Petworth was £1,419 not including SDLT and HMLR fees.