IfI were to purchase a simple residential propertyin Luton for cash and dispense with a survey and no local authority searches how much could I expect to to save on my conveyancing in Luton?

Any savings you would gain will be isolated to the Luton conveyancing searches. A conveyancer is obliged to do the vast majority of work - money laundering, communicating with your vendors lawyer, stamp duty return, register the ownership etc. You might save a bit for them not needing to register a mortgage however it will not be significant.

I have been on the look out for a flat up to £245,000 and found one close by in Luton I like with amenity areas and railway links nearby, however it's only got 51 remaining years left on the lease. There is not much else in Luton suitable, so just wondered if I would be making a mistake buying a short lease?

Should you require a mortgage that many years may be problematic. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least twenty four months you can request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.

In sourcing the world wide web for the words on line conveyancing in Luton it shows results of numerous conveyancersin the vicinity. With so much choice what is the best way to find the suitable solicitor for the sale of my house?

The preferential method of finding the right conveyancer is through a personal referral, so seek the counsel of friends and those you trust who have acquired a property in Luton or the respected estate agent or financial adviser. Charges for conveyancing in Luton vary, so it's sensible to secure at least three costs illustrations from different law firms. Make sure that you clarify what costs in the quote includes.

In relation to leasehold conveyancing in Luton what are the most common lease problems?

Leasehold conveyancing in Luton is not unique. Most leases are individual and drafting errors can result in certain provisions are missing. The following missing provisions could result in a defective lease:

A provision for the recovery of money spent for the benefit of another party. A provision to repair to or maintain elements of the building

You could have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Leeds Building Society, and Clydesdale all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the purchaser to withdraw.

I invested in buying a split level flat in Luton, conveyancing formalities finalised 8 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Luton with an extended lease are worth £179,000. The ground rent is £65 yearly. The lease runs out on 21st October 2081

With only 57 years left to run we estimate the premium for your lease extension to range between £26,600 and £30,800 plus legals.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.

Do banks and building societies provide you with an approved list of Luton solicitors? How do you know who is on the mortgage company conveyancing panel?

Luton law firm practices and firms conducting conveyancing in Luton themselves provide us confirmation that they are on the lender conveyancing panel as opposed to being supplied with a list from the bank directly.