I am buying a garden flat in Old Woking. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Old Woking you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Old Woking.
I have been on the look out for a leasehold apartment up to £245,000 and identified one near me in Old Woking I like with amenity areas and railway links nearby, however it's only got 61 years on the lease. There is not much else in Old Woking suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you require a home loan the shortness of the lease will be problematic. Discount the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
My father has urged me to appoint his conveyancing solicitors in Old Woking. Should I use them?
There are no two ways about it the best way to choose a conveyancing lawyer is to have guidance from friends or family who have actually used the solicitor that you are are thinking of instructing.
Can you offer any advice when it comes to finding a Old Woking conveyancing practice to deal with our lease extension?
When appointing a property lawyer for your lease extension (regardless if they are a Old Woking conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We suggest that you make enquires with several firms including non Old Woking conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be helpful:
What volume of lease extensions have they conducted in Old Woking in the last twenty four months? If they are not ALEP accredited then what is the reason?
I bought a 2 bed flat in Old Woking, conveyancing was carried out 9 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Old Woking with a long lease are worth £179,000. The average or mid-range amount of ground rent is £65 levied per year. The lease comes to an end on 21st October 2076
With 57 years remaining on your lease we estimate the premium for your lease extension to span between £26,600 and £30,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.
Being a leasehold owner I am on the hook for a service charge for my first floor flat in Old Woking. As a result of flawed financial planning I fell into arrears with payments. I negotiated a settlement plan but there remains two outstanding as of today.
I now wish to dispose of the property and I am worried this may hold me back if I have to pay off the amount due first. Do I have to settle before - is this achievable?
The lawyer undertaking your Old Woking sale should be in a position to negotiate with the appropriate parties, with a new to seeing if they would accept payment out of the completion monies. Here is indicative of why it is advisable to select a lawyer in Old Woking as they are likely to enjoy a strong line of communication with the management company.