We are about to complete on the purchase of a house in Fulwell but as a result of wreckage from the recent storms I have managed to agree reparation from the seller of three thousand pounds by way of a deduction in the price. This was going to be addressed as part of amending the contract however UBS are not allowing this. Should they have been approached?

Any solicitor that is on a UBS conveyancing panel is duty bound to advise UBS of any variations to the purchase price. If you prohibit your property lawyer to report the reduction to UBS then they would have to discontinue acting for you. In addition, UBS and you would have to appoint a new property lawyer for your conveyancing in Fulwell.

We are selling our home in Fulwell. Does the property lawyer have to be on the TSB conveyancing panel in order to deal with redeeming my mortgage?

Ordinarily, even if your lawyer is not on the TSB conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently in recent years.

Do I need to pay for insurance to protect me from financial exposure to chancel repairs when buying a house in Fulwell?

Unless a previous purchase of the premises took place after 12 October 2013 you could assume that lawyers carrying out conveyancing in Fulwell to continue to propose a a chancel search and or insurance against a claim.

I've recently found out that there is a flying freehold issue on a house I have offered on a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Fulwell is the location of the property. Is there any advice you can give?

Flying freeholds in Fulwell are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Fulwell you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Fulwell may decide 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 residence.

I am looking at a couple of flats in Fulwell which have in the region of forty five years remaining on the lease term. should I be concerned?

There are no two ways about it. A leasehold flat in Fulwell is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the marketability of the premises. The majority of purchasers and mortgage companies, leases with under 75 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 Fulwell conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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.

I am the leaseholder of a two-bedroom flat in Fulwell. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the amount due for a lease extension?

Where there is a absentee landlord or where there is disagreement about what the lease extension should cost, under the relevant statutes it is possible to make an application to the LVT to assess the sum to be paid.

An example of a Lease Extension matter before the tribunal for a Fulwell premises is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case affected 1 flat. The unexpired residue of the current lease was 60.45 years.