Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a quick, no chain conveyancing. New Romney is where the house is located. Is there any guidance you can impart?

Flying freeholds in New Romney are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside New Romney you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in New Romney may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.

Hoping to buy a property located in New Romney and I am already nervous. I couldn't find anything specific about New Romney. Conveyancing will be needed in due course but do you know about the New Romney area? or perhaps some other tips you can share?

Rather than looking online forget looking online you should go and have a look at New Romney. In the meantime here are some basic statistics that we found

My husband and I are FTB’s - had an offer accepted, yet the agent advised that the vendor will only move forward if we appoint the agent's recommended conveyancers as they want an ‘expedited deal’. My instinct tells me that we should use a high street conveyancer with experience of conveyancing in New Romney

We suspect that the seller is unaware of this ultimatum. Should the seller want ‘a quick sale', taking such a hostile approach to a serious purchaser is counter productive. Contact the owners directly and explain that (a)you are genuine purchasers (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)but you will continue to appoint your own,trusted New Romney conveyancing firm - not the ones that will give the estate agent a introducer fee or meet his conveyancing thresholds demanded by corporate headquarters.

I am attracted to a two flats in New Romney both have approximately forty five years left on the lease term. Do I need to be concerned?

There are no two ways about it. A leasehold apartment in New Romney is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the value of the property. For most purchasers and banks, leases with under eighty years become less and less attractive. 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 premises 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 premises 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 New Romney conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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 the agreed 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 1st floor flat in New Romney, conveyancing formalities finalised 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? Equivalent properties in New Romney with a long lease are worth £216,000. The average or mid-range amount of ground rent is £50 levied per year. The lease ends on 21st October 2092

With 68 years unexpired we estimate the price of your lease extension to span between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.

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 without more comprehensive due diligence. Do 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 you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.

I have been recommended a conveyancing solicitor in New Romney. I need to find out if they are listed on the lender's approved list of lawyers. Can you assist?

You should phone the conveyancer to check if they are on the lender's approved list. Alternatively please call us and we can investigate and revert. Should the firm not be on the conveyancing panel we can certainly arrange a quality conveyancing solicitor in New Romney on the approved list for your lender.