Is there a reason why leasehold purchase conveyancing in Guildford costs more?

The conveyancing charges on a leasehold premises in Guildford is often greater as compared to a freehold transaction. This is due to the supplemental time necessary in communicating with the freeholder and managing agents to obtain information concerning whether the rent and maintenance charges have been discharged and whether there are any significant expenditure in the near future on repairs or maintenance of the block.

How does conveyancing in Guildford differ for new build properties?

Most buyers of new build residence in Guildford contact us having been asked by the builder to exchange contracts and commit to the purchase even before the property is built. This is because developers in Guildford typically acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Guildford or who has acted in the same development.

Due to the input of my in-laws I had a survey completed on a house in Guildford before retaining lawyers. I have been advised that there is a flying freehold overhang to the house. My surveyor advised that some lenders may not grant a mortgage on such a premises.

It depends who your proposed lender is. Santander has different instructions from Halifax. Should you wish to call us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Guildford. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Guildford to see if the conveyancing will be more expensive.

I am on look out for some leasehold conveyancing in Guildford. Before diving in I would like to find out the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and almost all are in Guildford - then the leasehold title will always include the short particulars 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 am the registered owner of a garden flat in Guildford, conveyancing was carried out 6 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Guildford with a long lease are worth £185,000. The ground rent is £65 yearly. The lease comes to an end on 21st October 2084

You have 60 years left to run we estimate the premium for your lease extension to span between £20,000 and £23,000 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.

What is the reason for new build conveyancing in Guildford being more expensive?

Purchasing a brand new property is completely distinct from the normal house buying conveyancing in Guildford. For a start developers ordinarily demand contracts to exchange very quickly, the result being a a great deal of pressure on your lawyer to make sure everything is in order. In addition new build properties frequently involve the checking of adoption of highways, drains, planning considerations, building warranties or architects certificates. Lenders requirements are also more detailed. Taking into account the complex nature of the process for these types of properties, the conveyancing new build fees are higher than normal.