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Recently asked questions about conveyancing in Taplow

I have given 2 months notice to my existing landlord and have to leave my let out apartment in Taplow by 16/5/2024. Conveyancing on my purchase is underway. How realistic is it to complete in a couple of weeks as don't want to have to find short term accommodation?

Generally one should not serve notice for your lease unless exchange of contracts has taken place. Assuming that you have not already done so, notify to your solicitor and urge them to they apply pressure on the owners solicitors, try to get a realistic time scale from them that everyone will work to achieve

I bought my home on 1 January and my personal details is not yet registered. Should I be concerned? My conveyancing solicitor in Taplow said it should be formalised inside ten days. Are transfers in Taplow uniquely lengthy to register?

There is nothing unique about conveyancing in Taplow registration formalities. Rather than based on location, timeframes can differ subject to who lodges the application, whether there are errors and whether the Land registry communicate with any interested parties. As of today approximately 80% of submission are completed in less than three weeks but some can be subject to longer delays. Historically registration is effected once the buyer is living at the property thus an expedited registration is not typically top priority yet where there is a degree of urgency associated with the registration then you or your conveyancer must communicate with the Registry to express the reasoning for the application to be prioritised.

How does conveyancing in Taplow differ for new build properties?

Most buyers of new build property in Taplow contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is built. This is because house builders in Taplow tend to buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Taplow or who has acted in the same development.

I am in need of some leasehold conveyancing in Taplow. Before I get started I would like to find out the remaining lease term.

Assuming the lease is recorded at the land registry - and most are in Taplow - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I bought a split level flat in Taplow, conveyancing having been completed 6 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Taplow with an extended lease are worth £175,000. The ground rent is £65 invoiced annually. The lease ceases on 21st October 2082

With just 58 years unexpired we estimate the price of your lease extension to range between £23,800 and £27,400 plus professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously 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.

I own a leasehold flat in Taplow. Conveyancing was finalised in 21012. I have been told that I should not let the the remaining lease term to get too short. Why is that a problem?

Taplow leasehold properties are for a fixed period - often 99 years when they started. However many appartments in Taplow were constructed or converted 30 or more years ago and so these leases now have less than eighty years left to run. That may seem like plenty of time but Banks, Building Societies and other mortgage companies tend to require leases to have at least 75 years left to be mortgageable. This means that when you come to sell the property you will need to extend the term of your lease if you are approaching seventy five years. To maximise your property value you should be considering whether to extend your lease well in advance of selling the property. Please note that there are strong financial reasons to taking action before the lease hits eighty years as when the lease falls below eighty years the amount you have to pay to extend starts to get a lot more expensive.

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