I just acquired a house at auction in Brighstone. Conveyancing is needed. What happens now?

Given that you are now exchanged you will need to find a conveyancing solicitor soon as you now have a fast approaching a drop dead date to complete the property. All auction property will have an associated auction pack. This will likely include most,if not all of the paperwork that your conveyancer requires. If you have purchased leasehold property the legal pack should include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation specific to leasehold premises. You need to pass this on to the solicitor instructed by you as soon as possible. You also need to ensure that you have funds in place to complete on the on the contractual date .

When it comes to lenders such as , do Brighstone face a fee to be on the conveyancing panel?

We are not aware of any bank fees to register on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel application.

Having digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Brighstone solicitor - who is on the conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?

will need an independent valuation of the property. Your lawyer will not arrange this. Usually will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Brighstone surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.

Will commercial conveyancing searches reveal impending roadworks that could affect a commercial premises in Brighstone?

Many commercial conveyancing solicitors in Brighstone will order a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Brighstone. The search result 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 Brighstone.

For each commercial conveyancing transaction in Brighstone 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 result in delays to Brighstone commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not conducted for domestic conveyancing in Brighstone.

Due to the guidance of my in-laws I had a survey completed on a property in Brighstone before instructing solicitors. I have been informed that there is a flying freehold element to the house. The surveyor advised that some banks will not grant a loan on such a property.

It depends who your proposed lender is. Santander has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can look into this further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Brighstone. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Brighstone to see if the conveyancing will be more expensive.

I am on look out for some leasehold conveyancing in Brighstone. Before diving in I want to be sure as to the remaining lease term.

If the lease is recorded at the land registry - and almost all are in Brighstone - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I invested in buying a ground floor flat in Brighstone, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Corresponding properties in Brighstone with a long lease are worth £165,000. The ground rent is £45 yearly. The lease ends on 21st October 50

With just 50 years unexpired we estimate the premium for your lease extension to span between £36,100 and £41,800 plus plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.

I own a leasehold flat in Brighstone. Conveyancing was finalised in 2009. I have read on various advice forums that I mustn’t let the the remaining lease term to fall too short. What is the reasoning?

Brighstone domestic long term leases are for a set term - normally ninety nine years when they are first granted. However many appartments in Brighstone were built or converted in the 70’s80’s and so these leases now have under 80 years remaining. This may seem like plenty of time however Banks, Building Societies and other mortgage institutions tend to need leases to have a minimum of seventy five years remaining to adequate security. This means that when you come to sell the property you will need to extend the term of your lease if you are getting close to seventy five years. To increase the saleability of your property you should be thinking about whether to extend your lease well in advance of selling the property. Furthermore strong financial reasons to taking action before the lease hits 80 years as when the lease falls below 80 years the amount to be paid to extend starts to escalate.