We are expecting a mortgage offer soon. The lender mentioned the mortgage came with free conveyancing. Does this mean I have to instruct their panel conveyancer as I would prefer to instruct a local conveyancing solicitor in Groby and Ratby?

Do check but the the probability is that appoint one of their panel conveyancers if you accept the "fee-free" incentive. Contact the bank and explore if they allow a cash alternative. Some banks have previously offered a £250 cashback as a further option in which case that money can go towards your preferred conveyancing solicitor in Groby and Ratby.

I require quick conveyancing in Groby and Ratby as I am under pressure to complete within one month. A mortgage is not required. Is it possible to decline from having conveyancing searches to save fees and time?

As you are are a cash buyer you have the choice not to have searches conducted although no law firm would advise that you don't. With plenty of history conveyancing in Groby and Ratby the following are instances of issues that can show up and therefore affect market value: Enforcement Notices, Overdue Charges, Overdue Grants, Road Schemes,...

Just had an offer accepted on a new build flat in Groby and Ratby. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.

Here are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Groby and Ratby

Forfeiture - bankruptcy or liquidation must not apply under this provision. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. There must be mutual enforceability of lessee’s covenants.

I have been on the look out for a ground for flat up to £305k and found one near me in Groby and Ratby I like with amenity areas and railway links nearby, however it's only got 52 remaining years left on the lease. I can't really find anything else in Groby and Ratby for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?

If you require a mortgage that many years will likely be problematic. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.

I work for a reputable estate agent office in Groby and Ratby where we have witnessed a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received conflicting advice from local Groby and Ratby conveyancing firms. Can you shed some light as to whether the seller of a flat can commence the lease extension process for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.

An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

I am the registered owner of a 1st floor flat in Groby and Ratby, conveyancing was carried out September 2009. How much will my lease extension cost? Corresponding properties in Groby and Ratby with a long lease are worth £260,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease terminates on 21st October 2098

With only 74 years unexpired the likely cost is going to be between £8,600 and £9,800 as well as professional fees.

The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.