I am buying a house and the solicitor has identified Chancel Repair for which the property could be obligated to pay given it’s proximity to the area of such a church. She has suggested insurance. Is this strictly required for conveyancing in Borrowash

Unless a previous acquisition of the house completed post 12 October 2013 you can expect solicitors conducting conveyancing in Borrowash to remain recommending a chancel search and or insurance against a claim.

How does conveyancing in Borrowash differ for newly converted properties?

Most buyers of new build residence in Borrowash come to us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is finished. This is because builders in Borrowash typically buy 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 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 Borrowash or who has acted in the same development.

Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. Borrowash is the location of the property. Can you offer any guidance?

Flying freeholds in Borrowash 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 Borrowash you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Borrowash 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.

Do I need to be suspicious that brokers that I am dealing with are encouraging me to use a web based conveyancing firm as opposed to a High Street Borrowash conveyancing company?

As with lots of service providers, often input from relatives can be worth their weight in gold. Yet there are many players in a conveyancing transaction; estate agents, financial adviser and lenders may recommend lawyers to use. Sometimes these solicitors might be known to one of the organisations as one of the best in their field, but occasionally there exists a commercial relationship behind the endorsement. You are free to choose your own conveyancer. Don't forget that many mortgage providers specify a panel list of solicitors you are obliged to use for the lender aspect of your home move.

I am attracted to a couple of flats in Borrowash which have about 50 years remaining on the lease term. Do I need to be concerned?

A lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the value of the lease decreases and it becomes more expensive to acquire a lease extension. For this reason it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this field.

I am the registered owner of a leasehold flat in Borrowash, conveyancing having been completed 7 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Borrowash with an extended lease are worth £202,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease terminates on 21st October 2081

You have 56 years unexpired the likely cost is going to be between £29,500 and £34,000 plus legals.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.