IfI was to purchase a freehold housein Lancing for cash and have no survey and no local authority searches how much could I expect to have to pay for conveyancing in Lancing?

Any savings you would gain would be isolated to the disbursement for searches. The conveyancing practitioner is required to do the vast majority of work - money laundering, liaising with the vendors lawyer, stamp duty return, register the title etc. You might save a bit for them not having to register a mortgage however it will not be a lot.

I own a freehold property in Lancing but still pay rent, why is this and what is this?

It is rare for properties in Lancing and has limited impact for conveyancing in Lancing but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.

Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.

About to purchase a new build flat in Lancing. Conveyancing is daunting 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.

Set out below is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Lancing

Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Forfeiture - bankruptcy or liquidation must not apply under this provision. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.

I am attracted to a two maisonettes in Lancing which have about 50 years remaining on the lease term. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold flat in Lancing is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the salability of the property. For most buyers and banks, leases with less than 75 years become less and less marketable. 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 property 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 residence 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 Lancing 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. 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 any new 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 bought a leasehold flat in Lancing, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Lancing with over 90 years remaining are worth £227,000. The ground rent is £50 charged once a year. The lease terminates on 21st October 2098

With 72 years left to run we estimate the premium for your lease extension to be between £9,500 and £11,000 plus legals.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.

I have instructed a Lancing conveyancing solicitor for our house purchase (novice purchasers) and have noticed in the terms and conditions that they are not governed by the FCA. Need I be concerned or is that usually the case with lawyer?

We can't see why they should be. Most conveyancer don't lend money. You should check that they are governed by the SRA, who have strict conditions covering funds deposited by them.