Do the Building Society Association intend to launch a searchable register to list law firms on the Norwich and Peterborough Building Society conveyancing panel for example in Norfolk Broads?

Lexsure has not been advised of any intention on the part of the BSA to develop such a tool.

Should commercial conveyancing searches disclose proposed roadworks that could impact a commercial estate in Norfolk Broads?

Its becoming the norm that commercial conveyancing solicitors in Norfolk Broads will conduct a SiteSolutions Highways report as it reduces the time that conveyancers invest in investigating accurate data on highways that impact buildings and development assets in Norfolk Broads. The report sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Norfolk Broads.

For each commercial conveyancing transaction in Norfolk Broads it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately can result in delays to Norfolk Broads commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not conducted for residential conveyancing in Norfolk Broads.

What does commercial conveyancing in Norfolk Broads cover?

Commercial conveyancing in Norfolk Broads covers a broad array of advice, provided by regulated solicitors, relating to business premises. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.

I work for a busy estate agency in Norfolk Broads where we see a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have been given conflicting advice from local Norfolk Broads conveyancing firms. Could you clarify whether the seller of a flat can initiate the lease extension formalities for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

Norfolk Broads Conveyancing for Leasehold Flats - Examples of Queries Prior to buying

This information is helpful as a) areas can result in problems for the block as the common areas may begin to deteriorate if repairs remain unpaid b) if the leasehold owners have an issue with the running of the building you will wish to know about it How much is the yearly service fee and ground rent? The majority of Norfolk Broads leasehold flats will have a service charge for maintenance of the block set by the landlord. Where you purchase the property you will have to meet this contribution, normally quarterly throughout the year. This can be anything from several hundred pounds to thousands of pounds for bigger purpose-built buildings. There will also be a rentcharge to be met annual, ordinarily this is not a large figure, say about £50-£100 but you need to enquire it because sometimes it could be many hundreds of pounds.

We have an offer in principle from Bank of Scotland who have advised that they will lend up to £218k. When do I need to appoint a solicitor for conveyancing? Norfolk Broads is where we are buying.

You can instruct a solicitor now so that the conveyancer can open the ledger so they can do the ID checks etc. Once you wish them to commence work they will seek a deposit normally approximately £200. That would generally be after you have the mortgage offer and valuation back, nevertheless should you want to expedite the process you can start the ball rolling sooner even though you may be risking some money.