Should commercial conveyancing searches disclose proposed roadworks that could affect a commercial property in Wombourne?

Its becoming the norm that commercial conveyancing solicitors in Wombourne will conduct a SiteSolutions Highways report as it reduces the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in Wombourne. The report provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Wombourne.

For each commercial conveyancing transaction in Wombourne it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately may cause delays to Wombourne commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not conducted for residential conveyancing in Wombourne.

I purchased a terraced Victorian house in Wombourne. Conveyancing practitioner acted for me and TSB. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, another for leasehold under the exact same property. I thought I was buying a freehold how can I check?

You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Wombourne and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the position with your conveyancing lawyer who completed the work.

I've recently found out that there is a flying freehold issue on a property I put an offer in a fortnight ago in what should have been a quick, no chain conveyancing. Wombourne is where the house is located. Can you shed any light on this issue?

Flying freeholds in Wombourne are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Wombourne you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wombourne may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.

I work for a reputable estate agent office in Wombourne where we have witnessed a few leasehold sales derailed as a result of short leases. I have been given contradictory information from local Wombourne conveyancing firms. Can you confirm whether the seller of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. 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 disposal of the property.

An alternative approach is 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 buyer.

I own a 1 bedroom flat in Wombourne, conveyancing having been completed half a dozen 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 properties in Wombourne with an extended lease are worth £197,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease comes to an end on 21st October 2081

With only 55 years unexpired we estimate the price of your lease extension to span between £31,400 and £36,200 as well as legals.

The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.

We are midway through buying a property in Wombourne. Conveyancing solicitor has told us the title is "Leasehold". Will this likely adversely affect our Santander valuation?

Wombourne conveyancing does not ordinarily involve leasehold houses. The main consideration here is the length of lease and the ground rent. If there are hundred of years years remaining with a peppercorn rent, it's essentially freehold, so it shouldn't impact the value too much.

On the flip side, if it's, say, Sixty years it will have a material impact on the value, and most likely wouldn't be mortgageable. The length of lease and ground rent will be specified in the lease which should be made available to your lawyer.