Can you explain why leasehold purchase conveyancing in Market Drayton costs more?

In summary, leasehold conveyancing in Market Drayton and elsewhere usually requires extra hours of investigation compared to freehold conveyancing. This includes reviewing the lease, liaising with the landlord concerning the service of required notices, obtaining up-to-date service charge and management information, obtaining the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first granted.

Me and my brother own a semi-detached Victorian house in Market Drayton. Conveyancing solicitor represented me and Yorkshire Building Society. I did a free Land Registry search last week and I saw two entries: one for freehold, the second leasehold with the exact same address. I'd like to know for sure, how can I find out??

You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Market Drayton and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the situation with your conveyancing practitioner who conducted the conveyancing.

I'm refinancing my existing house to a BTL loan with Nationwide Building Society and intend to use the remaining equity as a down payment on further property. The area we are looking at is Market Drayton. Will your lawyers be able to act for the two banks and tie in the transactions?

Do use our search tool on this site to be sure that the solicitors are on the relevant lender panels. Having checked that they are your lawyer will be able to connect the two conveyancing matters but you should talk with you conveyancer and specify your expectations and needs.

As co-executor for the estate of my father I am disposing of a house in Cardiff but reside in Market Drayton. My lawyer (who is 235 kilometers awayneeds me to execute a stat dec prior to completion. Could you suggest a conveyancing practitioner in Market Drayton who can attest this legal document for me?

Technically speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will do regardless of whether they are based in Market Drayton

Can you offer any advice when it comes to choosing a Market Drayton conveyancing practice to carry out our lease extension conveyancing?

When appointing a property lawyer for lease extension works (regardless if they are a Market Drayton conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggest that you make enquires with several firms including non Market Drayton conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be useful:

How familiar is the practice with lease extension legislation? What are the charges for lease extension work?

I am the registered owner of a 1 bedroom flat in Market Drayton, conveyancing having been completed half a dozen 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 properties in Market Drayton with a long lease are worth £206,000. The ground rent is £45 invoiced annually. The lease ends on 21st October 2093

You have 67 years left to run we estimate the price of your lease extension to range between £10,500 and £12,000 as well as legals.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.