Why is leasehold purchase conveyancing in Old Stratford costs more?

The conveyancing charges on a leasehold property in Old Stratford is inevitably higher than on a freehold property. This is because there is an amount of supplemental work required in liaising with the freeholder and management company to obtain information about whether the rent and maintenance charges have been cleared and whether there are any large sums expected to be spent in the foreseeable future on repairs or maintenance of the building.

I am in the process of remortgaging my home in Old Stratford, does my lawyer have to be on the Co-operative Solicitor panel?

There is nothing to stop you using your solicitor, but Co-operative will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.

There are a variety of conveyancing solicitors in Old Stratford but how do I know who's good?

Do not opt for the lowest Old Stratford conveyancing costs illustration. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.

My wife and I buying a detached bungalow in Old Stratford. Our aim is to an extension at the rear at the house.Will legal investigations on the property include investigations to ascertain if these works are allowed?

Your conveyancer should review the deeds as conveyancing in Old Stratford can occasionally identify restrictions in the title documents which restrict certain changes or require the consent of a 3rd party. Certain works need local authority planning consent and approval in accordance building regulations. Certain locations are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these things with a surveyor ahead of any purchase.

I have today made my last payment due on my mortgage with Coventry BS. I assume I don't need a Old Stratford solicitor on the Coventry BS panel to remove the mortgage at the Land Registry. Please confirm.

If you have finished paying off your Coventry BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Coventry BS mortgage from the register. Coventry BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:

1. but are not moving to another property
2. where Coventry BS has sent the Land Registry the discharge electronically, and
3. Coventry BS has instructed the Land Registry to do so

Looking forward to complete next month on a basement flat in Old Stratford. Conveyancing lawyers have said that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Old Stratford should include some of the following:

Repair and maintenance of the flat How long the lease is. You should receive guidance as what happens when the lease ends, and informed of the importance of the 80 year mark What remedies are open the freeholder should you have breached the provisions of the lease? Additions to the flat Whether your lease caters for for a sinking account for major works?

I purchased a 1 bedroom flat in Old Stratford, conveyancing formalities finalised 9 years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Old Stratford with a long lease are worth £165,000. The ground rent is £50 charged once a year. The lease comes to an end on 21st October 2103

You have 78 years unexpired we estimate the price of your lease extension to span between £7,600 and £8,800 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs without more 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 taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.

The financial adviser has recommended their conveyancing practitioner for the conveyancing in Old Stratford - Surely it’s better to just instruct them?

It is not always the case and you are free to opt for whichever conveyancer of your choosing for your Old Stratford conveyancing. The solicitor recommended by an estate agent may not always be the best conveyancer, they may put forward their own conveyancing firm who are based remotely. In this instance you may not have contact with your conveyancing practitioner and due to the lack of continuity in the transaction, it may be difficult to obtain updates.