Please help. My Wednesfield solicitor is informing me me that he has toapply for Wednesfield conveyancing searches asthe firm are on the HSBCconveyancing panel. Do I not have any say here?

You have limited options available to you. As you are obtaining a home loan with a bank your conveyancer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your property lawyer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook conditions . Even if you were a cash buyer you would be ill advised not to carry out Wednesfield conveyancing searches.

4 months have elapsed since my purchase conveyancing in Wednesfield concluded. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

Yesterday I discovered that there is a flying freehold issue on a property I put an offer in last month in what should have been a simple, chain free conveyancing. Wednesfield is where the house is located. Can you shed any light on this issue?

Flying freeholds in Wednesfield are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Wednesfield you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wednesfield may determine 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 property.

I am a sole trader planning to take an assignment of a lease of an office on a shopping parade. Can you recommend lawyers offering no-sale-no fees for commercial conveyancing in Wednesfield for below 2k?

We are happy to recommend firms who host a wealth of experience of commercial conveyancing in Wednesfield, including the sale and purchase of businesses as well as simply property. Whether you are intending to purchase or sell a shop, pub, restaurant, office, retail unit or a whole business we can put you in touch with the right lawyer. Regarding the costs these will vary based on the structure and complexity of the deal. Let us have your details or phone us so that we can provide you with comprehensive commercial conveyancing quote.

I am attracted to a two apartments in Wednesfield which have about forty five years left on the leases. Will this present a problem?

There are no two ways about it. A leasehold flat in Wednesfield is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the value of the premises. The majority of buyers and mortgage companies, leases with less than 75 years become less and less attractive. 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 Wednesfield conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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.

Wednesfield Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to buying

What is the yearly maintenance fee and ground rent? How many of the leaseholders are in arrears for their service charge payments? The answer will be helpful as a) areas could result in problems for the block as the communal areas may start to deteriorate where repairs are not paid for b) if the leasehold owners have a dispute with the managing agents you will need to have complete disclosure