I am under pressure from the seller of a property in Stoke Park to complete within four weeks. What can I do to accelerate the buying process?

In a situation where the seller is applying time constraints to sign contracts we would recommend that your solicitor is familiar with the area as they will make use of local contacts and insight. It is even conceivable that they would have transacted otherproperties in the same road. Therefore consider using a Stoke Park conveyancing firm. Second, double check that the conveyancing firm is on the on the approved list for your mortgage company. It is believed that nearly one in five of Stoke Park conveyancing transactions are suspended or derailed after discovering a purchaser’s lawyer was not on their mortgage lender’s panel. In many cases this discovery resulted in the legal transfer of property being frustrated by almost three weeks. It is said that this issue affects approximately 100,000 home sales every year. Most Stoke Park conveyancing practices can not represent certain lenders so do check as early as possible.

It is 10 years ago since I purchased my home in Stoke Park. Conveyancing lawyers have recently been appointed on the sale but I can't track down my title deeds. Is this a major issue?

Don’t worry too much. Firstly there is a chance that the deeds will be kept by your lender or they may be in the possession of the conveyancers who oversaw the purchase. Secondly the chances are that the land will be recorded at the land registry and you will be able to prove you own the property by your conveyancing solicitors acquiring current official copies of the land registers. Most conveyancing in Stoke Park involves registered property but in the rare situation where your home is not registered it adds to the complexity but is resolvable.

Due to the input of my in-laws I had a survey completed on a property in Stoke Park prior to retaining lawyers. I have been told that there is a flying freehold overhang to the property. My surveyor has said that some mortgage companies tend refuse to give a mortgage on this type of property.

It varies from the lender to lender. HSBC has different requirements for example to Nationwide. Should you wish to telephone us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Stoke Park. Conveyancing will be smoother if you use a solicitor in Stoke Park especially if they are acquainted with such properties in Stoke Park.

Can you provide any top tips for leasehold conveyancing in Stoke Park with the intention of saving time on the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Stoke Park can be reduced where you get in touch lawyers the minute your agents start marketing the property and request that they start to put together the leasehold documentation needed by the buyers’ lawyers.
A minority of Stoke Park leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors. If there is a history of any disputes with your freeholder or managing agents it is essential that these are resolved before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is clearly preferable to present the dispute as over rather than unsettled. Many freeholders or managing agents in Stoke Park charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Stoke Park.

I purchased a 1 bedroom flat in Stoke Park, conveyancing formalities finalised 8 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Stoke Park with over 90 years remaining are worth £190,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease ceases on 21st October 2086

With 61 years unexpired the likely cost is going to span between £18,100 and £20,800 plus professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.

Are you able to clarify what my options are if my Stoke Park conveyancing searches shows negative entries?

On the whole, most adverse entries that arise in Stoke Park conveyancing search responses can be addressed prior to completion or indemnity insurance could possibly be taken. You need to note that regardless of the fact that you may be buying the premises and may be willing to live with the search results, your mortgage lender may not, and when all said and done the decision rests with them.