The loan offer from Santander for the refinancing of my 4 room flat is to be issued within the next few days. Are you able to put forward a low cost conveyancing solicitor in Peterborough?

You are on the wrong site if you are in need of the cheapest conveyancing solicitors in Peterborough. Our aim is to provide value for money conveyancing but our intention is not to advertise as being the cheapest. Avoid the trap of appointing companies seducing you with £100 conveyancing in Peterborough. In your best case scenario, in going for low cost conveyancing, you will get your money’s worth and at worst it will result in you invoiced for additional fees and still not receive the service expected.

Can you help - my lawyer advises that breach of easement insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Peterborough?

The right level of breach of easement indemnity insurance depends on who your lender is. It would differ for example between Birmingham Midshires and The Royal Bank of Scotland. Conveyancing practitioners as opposed to borrowers take out such policies.

We are getting the release of further funds on our home loan from Aldermore as we intend to conduct alterations to our property in Peterborough. Do we need to choose a high street Peterborough solicitor on the Aldermore conveyancing panel to deal with the paperwork?

Aldermore would not normally require firms on their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Aldermore list.

We expect to receive a DIP from Leeds Building Society this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Leeds Building Society recommend any Peterborough solicitors on the Leeds Building Society conveyancing panel, or is it better to find our own lawyer?

You will need to appoint Peterborough solicitors independently although you'll need to choose one on the Leeds Building Society conveyancing panel. The solicitor represents both you and Leeds Building Society through the process.

I opted to have a survey completed on a property in Peterborough before retaining solicitors. I have been advised that there is a flying freehold element to the property. Our surveyor advised that some lenders tend refuse to grant a loan on this type of house.

It depends who your proposed lender is. Bank of Scotland has different instructions for example to Nationwide. If you contact us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Peterborough. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Peterborough to see if the conveyancing will be more expensive.

Taking into account that I will soon part with over three hundred thousand on a two bedroom apartment in Peterborough I wish to have a conversation with the lawyer concerning theconveyancing before appointing the firm. Can this be arranged?

This is something that we recommend - we would be pleased to talk to you we do not take any clients on without you speaking to the lawyer who will be carrying out your property ownership legalities in Peterborough.There is no ‘factory style conveyancing’ - each client is an important person, not a matter number. The practices that we put you in touch with believe that the figure you are provided with for your conveyancing in Peterborough should be the amount on the final invoice that you end up paying.

I am attracted to a couple of apartments in Peterborough both have in the region of 50 years remaining on the leases. Do I need to be concerned?

There is no doubt about it. A leasehold apartment in Peterborough is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the value of the premises. The majority of buyers and banks, leases with under 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Peterborough conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I invested in buying a studio flat in Peterborough, conveyancing having been completed August 2008. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Peterborough with over 90 years remaining are worth £197,000. The average or mid-range amount of ground rent is £55 per annum. The lease finishes on 21st October 2080

With just 56 years left to run we estimate the premium for your lease extension to be between £29,500 and £34,000 as well as costs.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.