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Recently asked questions about conveyancing in New Waltham

My best friend’s step-father is a property lawyer. I hope that I will be offered preferential pricing for conveyancing, However if that does not come through, what kind of costs should I be paying for conveyancing in New Waltham?

You should contrast pricing. Do use our comparison tool on this page. You will notice that estimates may be different but the service one can expect are distinct between property lawyers as is true with most professions.

I am buying a house mortgage free in New Waltham. I have been residing for the previous Seventeen years in New Waltham. Conveyancing searches are exorbitant. As I know the road and vicinity intimately should I not bother getting the solicitor to do all the conveyancing searches?

In the absence of a home loan, then all but one or two of the New Waltham conveyancing searches are non-obligatory. Your conveyancer will ’encourage you, no-doubt strongly, that you should have searches carried out, but she has a professional duty to do this. Do take into account; if you are intend to sell the house in the future, it will be of interest to your future buyer what the searches reveal. Sometimes premises with day to day issues can still show up detrimental search results. A good conveyancing solicitor in New Waltham should be able to give you some sensible guidance here.

My colleague recommended that where I am purchasing in New Waltham I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?

A search of this type is occasionally included in the estimate for your New Waltham conveyancing searches. It is not a small document of about 40 pages, listing and detailing significant information about New Waltham around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the New Waltham Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, New Waltham Education with plans and statistics, Local Amenities and other useful information regarding New Waltham.

Due to the guidance of my in-laws I had a survey completed on a property in New Waltham before instructing conveyancers. I have been advised that there is a flying freehold overhang to the property. My surveyor has said that some lenders may not issue a mortgage on a flying freehold house.

It varies from the lender to lender. Bank of Scotland has different requirements for example to Nationwide. Should you wish to call us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in New Waltham. Conveyancing will be smoother if you use a solicitor in New Waltham especially if they are acquainted with such properties in New Waltham.

I've recently bought a leasehold flat in New Waltham. Am I liable to pay service charges for periods before completion of my purchase?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I bought a split level flat in New Waltham, conveyancing formalities finalised 7 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? Corresponding properties in New Waltham with a long lease are worth £265,000. The ground rent is £50 yearly. The lease runs out on 21st October 2095

With only 76 years left to run we estimate the price of your lease extension to range between £8,600 and £9,800 as well as legals.

The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional 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 without first getting professional advice.

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Find out more about how flying freehold can affect your the value of a property.