Souldretaining a Frimley conveyancing firm make the home moving process easier?

Established third party connections are another important factor to consider when appointing conveyancing lawyers. Frimley conveyancers benefit from long term relationships with lenders and agents, local authorities, valuers and other conveyancing firms meaning the whole process is going to be much smoother for you. Having a well rounded intelligence of the local area is an advantage.

I'm buying my first flat in Frimley with a mortgage from Barnsley Building Society. The sellers would not move on the amount so I negotiated 6k of fixtures and fittings instead. The property agent advised me not to tell my conveyancer about this extras as it would impact my mortgage with Barnsley Building Society. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

I have been on the look out for a leasehold apartment up to £235,500 and identified one close by in Frimley I like with open areas and station nearby, however it only has 51 years on the lease. There is not much else in Frimley for this price, so just wondered if I would be making a grave error buying a lease with such few years left?

If you require a mortgage that many years will be an issue. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of twenty four months you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.

What are your top tips when it comes to appointing a Frimley conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a conveyancer for lease extension works (regardless if they are a Frimley conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you speak with two or three firms including non Frimley conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be of use:

How experienced is the practice with lease extension legislation?

I purchased a studio flat in Frimley, conveyancing having been completed April 1996. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Frimley with a long lease are worth £201,000. The ground rent is £45 charged once a year. The lease runs out on 21st October 2090

With 65 years remaining on your lease the likely cost is going to span between £13,300 and £15,400 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more detailed due diligence. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.

I own a leasehold flat in Frimley. Conveyancing was finalised in 2011. I have heard that I should not let the lease length fall too short. Why is that a problem?

Frimley domestic long term leases are for a prescribed period - usually ninety nine years when they started. However many appartments in Frimley were constructed or converted in the 70’s80’s and so these leases now have fewer than 80 years remaining. This may sound like a long time however Banks, Building Societies and other mortgage institutions tend to need leases to have a minimum of 75 years unexpired to be mortgageable. This means that when you come to sell the property you will need a lease extension if you are approaching 75 years. To optimize your property value you should be thinking about whether to extend your lease well in advance of selling the property. Please note that there are strong financial reasons to taking action before the lease reaches even 80 years as when the lease falls below 80 years the premium you have to pay to extend starts to escalate.