How up to date is your database of Winscombe solicitors on the Nottingham conveyancing panel? Do Nottingham send you an updated list?

Winscombe conveyancing firms themselves provide us confirmation that they are on the Nottingham conveyancing panel as opposed to being supplied with a list from Nottingham directly.

I am purchasing a semi-detached house in Winscombe. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?

Leaving aside the complexities and merits of DIY conveyancing in Winscombe you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Winscombe.

Will our conveyancer be raising enquiries regarding flooding as part of the conveyancing in Winscombe.

The risk of flooding is if increasing concern for solicitors carrying out conveyancing in Winscombe. Some people will buy a house in Winscombe, fully aware that at some time, it may be flooded. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.

Lawyers are not qualified to give advice on flood risk, but there are a numerous checks that may be initiated by the purchaser or on a buyer’s behalf which can give them a better understanding of the risks in Winscombe. The standard information given to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual inquiry of the seller to determine whether the premises has ever been flooded. If flooding has previously occurred and is not disclosed by the vendor, then a buyer could commence a compensation claim resulting from an incorrect reply. A buyer’s lawyers may also carry out an enviro report. This will higlight if there is a recorded flood risk. If so, further investigations should be initiated.

Is it best to appoint a Winscombe conveyancing practitioner in close proximity to the house I am hoping to buy? I have an old university friend who can carry out the legal work but her office is 300kilometers away.

The primary upside of using a local Winscombe conveyancing firm is that you can drop in to execute documents, hand in your identification documents and apply pressure on them if necessary. They will also have local knowledge which is a plus. However nothing is more important than finding someone that will pull out all the stops for you. If if people you trust used your friend and in the main were happy that must outweigh using an unknown Winscombe conveyancing lawyer solely due to them being round the corner.

I am employed by a long established estate agency in Winscombe where we have experienced a few leasehold sales jeopardised due to short leases. I have received conflicting advice from local Winscombe conveyancing solicitors. Please can you clarify whether the owner of a flat can commence the lease extension formalities for the buyer?

As long as the seller has owned the lease 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. This means that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder 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 purchaser.

I am the registered owner of a leasehold flat in Winscombe, conveyancing was carried out 7 years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Winscombe with a long lease are worth £222,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease finishes on 21st October 2096

You have 71 years left to run the likely cost is going to range between £9,500 and £11,000 as well as costs.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.