Having been suggested to visit your web site we were about to appoint conveyancing solicitor in Shaw endorsed on your site but stumbled across alternative fee calculations via the web appear less pricey – why is this?

There are plenty of firms promoting so-called £99 conveyancing, but extracosts result in the closing invoice being escalated. In accordance with regulatory requirements costs set out in terms of business should be equitable raised The solicitors that we list for conveyancing in Shaw specify all legal fees for a domestic conveyancing matter.

Will lawyers ask for an advanced payment when it comes to conveyancing in Shaw?

If you are buying a property in Shaw your solicitor will request that you place them with monies to cover the the cost of the conveyancing searches. Normally this is requested to cover the fees of the conveyancing searches. If any deposit is payable against the purchase price then this should be asked for immediately prior to contracts are exchanged. Any further balance that is needed should be transferred shortly before completion.

The Shaw conveyancing solicitors that just started acting on my house acquisition in Shaw have suddenly closed. I only went with them because I had to have a lawyer on the conveyancing panel and my preferred Shaw lawyer was not. I paid them 275 plus VAT in advance. What are my options?

If you have an estate agent involved then inform them straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to help.

Due to the encouragement of my in-laws I had a survey completed on a house in Shaw prior to retaining conveyancers. I have been informed that there is a flying freehold element to the property. Our surveyor advised that some banks tend refuse to grant a mortgage on such a home.

It varies from the lender to lender. Santander has different requirements from Birmingham Midshires. Should you wish to telephone us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Shaw. Conveyancing may be slightly more expensive based on your lender's requirements.

I am looking at a couple of maisonettes in Shaw both have approximately 50 years remaining on the lease term. Will this present a problem?

There are no two ways about it. A leasehold apartment in Shaw is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the value of the premises. The majority of purchasers and lenders, leases with under eighty years become less and less attractive. 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 Shaw 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 own a leasehold flat in Shaw, conveyancing having been completed in 1995. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Shaw with a long lease are worth £165,000. The average or mid-range amount of ground rent is £45 levied per year. The lease runs out on 21st October 50

With 50 years unexpired we estimate the price of your lease extension to be between £36,100 and £41,800 as well as legals.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.