Can you help? My Coombe solicitor is assuring me that he has toconduct Coombe conveyancing searches becausethe firm are on the HSBCconveyancing panel. Is this really necessary?

You have limited options available to you. Given that you are taking out a loan with a lender your has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook specifications . Even if you were a cash buyer you would be ill advised not to carry out Coombe conveyancing searches.

It is a dozen years since I acquired my property in Coombe. Conveyancing lawyers have recently been instructed on the sale but I am unable to find the deeds. Is this a major issue?

Don’t worry too much. Firstly there is a possibility that the deeds will be with the mortgage company or they may be in the possession of the solicitor who handled your purchase. Secondly the chances are that the title will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors procuring current official copies of the land registers. Most conveyancing in Coombe involves registered property but in the unlikely event that your home is not registered it adds to the complexity but is resolvable.

I have justdiscovered that Stirling Law have been shut down. They conducted my conveyancing in Coombe for a purchase of a leasehold flat 10 months ago. How can I be sure that my home is not still registered in the name of the former proprietor?

The easiest way to check if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Coombe conveyancing specialists.

My partner has encouraged me to use his conveyancers in Coombe. Do I take his advice?

No doubt the best way to find a conveyancing solicitor is to seek feedback from friends or relatives who have actually experience in using the conveyancer you're contemplating using.

I am tempted by the attractive purchase price for a couple of apartments in Coombe which have in the region of fifty years left on the leases. should I be concerned?

There is no doubt about it. A leasehold flat in Coombe is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it reduces the salability of the premises. The majority of buyers and mortgage companies, leases with under eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises 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 Coombe conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend 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 the agreed 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.

Leasehold Conveyancing in Coombe - A selection of Queries before buying

How long is the Lease? Are any of leasehold owners in dispute over their service charge payments? On the whole the cost for major works are not included within maintenance charges, although there some managing agents in Coombe require leasehold owners to contribute towards a reserve fund created for the specific purpose of building a fund for major works.