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Recently asked questions about conveyancing in Peacehaven

We were about to instruct a conveyancing solicitor in Peacehaven endorsed by you but have come across alternative quotes on the internet seem less expensive – why is this?

There are plenty of conveyancing organisations advertising alleged cheap conveyancing, but supplementalcosts result in the completion invoice mounting up beyond all recognition. Conveyancers are obliged to make sure that charges set out in terms of engagement should be equitable invoiced The law firms that we put forward for conveyancing in Peacehaven set out all charges for a residential conveyancing matter.

How does conveyancing in Peacehaven differ for new build properties?

Most buyers of new build or newly converted property in Peacehaven come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is completed. This is because house builders in Peacehaven usually acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Peacehaven or who has acted in the same development.

I've recently found out that there is a flying freehold issue on a house I have offered on last month in what should have been a straight forward, no chain conveyancing. Peacehaven is the location of the property. What do you suggest?

Flying freeholds in Peacehaven are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Peacehaven you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Peacehaven may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.

I need to appoint a conveyancing solicitor for leasehold conveyancing in Peacehaven. I've land on a site which appears to be the perfect solution If it is possible to get all formalities done via web that would be preferable. Do I need to be wary? What are the potential pitfalls?

As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?

I am employed by a busy estate agency in Peacehaven where we see a number of leasehold sales derailed due to short leases. I have received conflicting advice from local Peacehaven conveyancing solicitors. Could you confirm whether the seller of a flat can instigate the lease extension process for the purchaser on completion of the sale?

Provided that the seller has owned the lease 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. This means that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.

An alternative approach is to agree the lease extension with the freeholder 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 buyer.

I own a garden flat in Peacehaven, conveyancing formalities finalised January 2011. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Peacehaven with an extended lease are worth £227,000. The ground rent is £50 levied per year. The lease terminates on 21st October 2092

You have 71 years remaining on your lease the likely cost is going to range between £9,500 and £11,000 plus 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 a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based 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.