In the event thatI was to acquire a straightforward housein Banwell mortgage fee and dispense with a survey and no local authority searches how much would I expect to have to pay for conveyancing in Banwell?

Any savings you would achieve will be limited to the costs for searches. Your conveyancing practitioner is required to do the vast majority of work - money laundering, correspond with your sellers conveyancing practitioner, SDLT submission, register the ownership etc. You might save a bit for them not having to register a charge however it won't be a lot.

Can you explain why leasehold purchase conveyancing in Banwell costs more?

In short, leasehold conveyancing in Banwell and elsewhere usually warrants extra due diligence compared to freehold conveyancing. This includes reviewing the lease, corresponding with the landlord about the service of required notices, obtaining current service charge and management information, securing the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different proprietor have owned the lease since it was first entered into.

I am in the process of refinancing my house in Banwell, does my lawyer have to be on the HSBC Solicitor panel?

There is nothing to stop you using your solicitor, but HSBC will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.

How does conveyancing in Banwell differ for new build properties?

Most buyers of new build premises in Banwell come to us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is built. This is because developers in Banwell usually acquire the land, 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 conveyancers 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 used to new build conveyancing in Banwell or who has acted in the same development.

I only have Seventy years remaining on my lease in Banwell. I am keen to get lease extension but my freeholder is absent. What should I do?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to demonstrate that you have used your best endeavours to locate the landlord. In some cases a specialist may be useful to conduct investigations and to produce a report to be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on devolving into the landlord’s disappearance and the application to the County Court overseeing Banwell.

I own a garden flat in Banwell, conveyancing was carried out February 2010. How much will my lease extension cost? Similar properties in Banwell with an extended lease are worth £185,000. The ground rent is £65 yearly. The lease ceases on 21st October 2085

With just 60 years left to run we estimate the premium for your lease extension to span between £20,000 and £23,000 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.