Why is leasehold purchase conveyancing in Norbiton is more expensive?

In short, leasehold conveyancing in Norbiton and elsewhere usually involve extra due diligence compared to freehold transactions. This includes reviewing the lease, communicating with the landlord about serving required notices, procuring current service charge and management information, securing 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 – no matter how many different leaseholders have owned the lease since it was first granted.

We are close to exchanging contracts on the sale of our home in Norbiton and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. Any local lawyer would know this is not the case. It does beg the question why the purchasers instructed a national conveyancing practice as opposed to a conveyancing solicitor in Norbiton. We have lived in Norbiton for many years we know that this is a non issue. Do we get in touch with our local Authority to get clarification that the buyers are looking for.

It would appear that you have a conveyancing lawyer already. What do they say? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)

Are there restrictive covenants that are commonly identified as part of conveyancing in Norbiton?

Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Norbiton. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

I am buying my first flat in Norbiton with a loan from . The developers refused to budge the price so I negotiated £7000 of extras instead. The sale representative suggested that I not reveal to my lawyer about this extras as it would put at risk my mortgage with . Is this normal?.

All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

I invested in buying a garden flat in Norbiton, conveyancing was carried out 3 years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Norbiton with a long lease are worth £165,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease runs out on 21st October 50

You have 50 years remaining on your lease we estimate the price of your lease extension to be between £36,100 and £41,800 as well as plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.