Find a Princes Risborough Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Princes Risborough? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Princes Risborough transaction at risk of delay or failure.

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Recently asked questions about conveyancing in Princes Risborough

It may have been a long time coming a mortgage agreement from NatWest for the remortgage of my 2 room flat is due any day now. Can you propose a cheap conveyancing lawyer in Princes Risborough?

You have arrived at the wrong place to search for cut-price fees for conveyancing in Princes Risborough. We can offer you excellent value conveyancing but our intention is not to advertise as being the cheapest. Do not be swayed by companies teasing you with £99 conveyancing in Princes Risborough. The optimum outcome, in deciding on cheap conveyancing, you will get your money’s worth and at worst it will result in you spending a lot in extras and still not get the service required.

It is 10 years ago since I acquired my property in Princes Risborough. Conveyancing lawyers have now been instructed on the sale but I can't track down the deeds. Will this cause complications?

Don’t worry too much. Firstly there is a chance that the deeds will be kept by the lender or they may still be with the solicitor who acted in your purchase. Secondly in most cases the land will be registered at the land registry and you will be able to prove you own the property by your conveyancing solicitors procuring current official copies of the land registers. Almost all conveyancing in Princes Risborough relates to registered property but in the unlikely event that your property is unregistered it adds to the complexity but is resolvable.

I am buying a terrace house in Princes Risborough. We would like to carry out a loft conversion at the house.Will legal investigations on the property include enquiries to determine if these works are permitted?

Your conveyancer will check the deeds as conveyancing in Princes Risborough will on occasion identify restrictions in the title deeds which prohibit categories of changes or necessitated the consent of a 3rd party. Some additions call for local authority planning consent and approval in accordance building regulations. Certain areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. It would be wise to check these issues with a surveyor ahead of any purchase.

is it true that all Princes Risborough solicitor firms on the RBS conveyancing panel are overseen by the SRA?

As a firm of solicitors, in order to be on the RBS conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. The majority of lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the CLC.

I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Princes Risborough building society branch on a couple of occasions and was reassured it wasn't a problem and they would lend. My Princes Risborough conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they will not lend in accordance with their published requirements. I have no idea who is right.

Provided that the conveyancer is on the lender approved list, she or he must adhere to the Council of Mortgage Lenders’ Handbook conditions for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.

I am attracted to a two flats in Princes Risborough which have in the region of forty five years left on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Princes Risborough is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the salability of the property. The majority of purchasers and banks, leases with less than 75 years become less and less marketable. On a more positive 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 Princes Risborough conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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 acquired a leasehold flat in Princes Risborough, conveyancing having been completed in 1995. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Princes Risborough with over 90 years remaining are worth £216,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease terminates on 21st October 2093

With only 69 years remaining on your lease the likely cost is going to span between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.

Sixweeks into a sale of a flat in Princes Risborough. Conveyancing is fine but we have been asked to pay a fortune by the managing agents. So far we have paid £225 for a leasehold management pack and then another £134.40 for supplemental queries raised by the buyers lawyer.

Neither you or your property lawyer will have any control over the level of the fee for this information but the average costs for the information for Princes Risborough leasehold premises is £355. When it comes to Princes Risborough conveyancing deals it is customary for the owner to cover the charges. The landlord or their agents are under no legal obligation to address such questions although many will agree to do so - albeit often at high prices out of proportion to the work involved. Regretfully there is no legislation that requires set fees for administrative tasks. Neither is there any statutory time frame by which they are duty bound to provide the information.

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