I am hoping to receive a offer of a home loan from Santander. I would like to enlist the help of a Licensed Conveyancer in Southam. Does the Santander Solicitor panel allow for Licensed Conveyancers?

The Santander approved solicitor list is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.

It is is a decade since I acquired my house in Southam. Conveyancing lawyers have just been appointed on the sale but I can't track down my deeds. Will this jeopardise the sale?

Don’t worry too much. Firstly there is a possibility that the deeds will be retained by the lender or they may be in the possession of the conveyancers who oversaw the purchase. Secondly in all probability the property will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing lawyers obtaining current official copies of the land registers. Almost all conveyancing in Southam involves registered property but in the rare situation where your home is unregistered it is more tricky but is not insurmountable.

What does a local search reveal regarding the house I am purchasing in Southam?

Southam conveyancing often commences with the submitting local authority searches directly from your local Authority or through a personal search company such as Searchflow The local search is essential in every Southam conveyancing purchase; that is if you wish to avoid any nasty surprises after you move into your property. The search should reveal data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic sections.

I have justbecome aware that Stirling Law have been shut down. They conducted my conveyancing in Southam for a purchase of a freehold house 12 months ago. How can I be sure that my home is registered correctly in the name of the previous owner?

The easiest method to check if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Southam conveyancing specialists.

I am looking at a couple of maisonettes in Southam which have about 50 years remaining on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold flat in Southam is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. For most buyers and banks, leases with under 75 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 premises 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 Southam 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.

Southam Leasehold Conveyancing - Sample of Questions you should ask Prior to Purchasing

Its a good idea to find out as much as you can concerning the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you are often in the clutches of the managing agents from a financial perspective and when it comes to every day matters such as the cleanliness of the common parts. Ask other tenants what they think of their service. In conclusion, find out the dates that you are obliged pay the maintenance charge to the appropriate party and precisely what it includes. How many of the leaseholders are in arrears for their maintenance charge payments? How is the lease structured?