I am need of leasehold conveyancing for an apartment in a relatively new development (6 years built) in Wednesfield. Almost all the properties are already occupied. Is it strictly necessary to order neighbourhood searches for my conveyancing in Wednesfield?

You are putting yourself at risk in failing carrying out Wednesfield conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying mortgage free there is no legal necessity to have them, but we would strongly advise in the strongest possible terms that your solicitor conducts them. Where time pressures and cost are primary concerns you should consider with your solicitor about the options such as indemnity insurance available to you

It has been four months following my purchase conveyancing in Wednesfield completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

I opted to have a survey carried out on a property in Wednesfield in advance of instructing conveyancers. I have been informed that there is a flying freehold overhang to the house. My surveyor has said that some lenders may refuse to give a mortgage on a flying freehold property.

It depends who your proposed lender is. Bank of Scotland has different instructions from Nationwide. Should you wish to telephone us we can investigate further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Wednesfield. Conveyancing will be smoother if you use a solicitor in Wednesfield especially if they are accustomed to such properties in Wednesfield.

I am employed by a reputable estate agency in Wednesfield where we have witnessed a few leasehold sales jeopardised due to short leases. I have received conflicting advice from local Wednesfield conveyancing solicitors. Could you confirm whether the owner of a flat can instigate the lease extension process for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.

An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

I acquired a split level flat in Wednesfield, 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? Comparable flats in Wednesfield with a long lease are worth £190,000. The ground rent is £65 levied per year. The lease runs out on 21st October 2087

With only 61 years remaining on your lease the likely cost is going to span between £19,000 and £22,000 plus costs.

The figure above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.

Are all Wednesfield conveyancers on every bank conveyancing panel?

You can use our search tool or you can pop into your high street bank branch in Wednesfield. Chances are that they will know some good conveyancing solicitors in Wednesfield