Why do I have to pay up front for my conveyancing in Woodbury?

If you are buying a property in Woodbury your solicitor will ask you to provide them with monies to cover the search fees. Generally this is needed to cover the fees of the conveyancing searches. If any deposit is payable against the sale price then this should be needed shortly prior to exchange of contracts. Any further balance that is needed should be sent to your lawyer a few days ahead of the completion date.

I am buying a right to buy a flat in Woodbury. 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 Woodbury you will have to appoint a solicitor on your bank'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 Woodbury.

My wife and I own a renovated Georgian house in Woodbury. Conveyancing solicitor represented me and Nottingham Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, the second leasehold under the matching property. Is it worth asking Nottingham Building Society to clarify?

You should 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Woodbury and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the position with the conveyancing practitioner who conducted the conveyancing.

I own a leasehold house in Woodbury. Conveyancing and HSBC Bank mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Woodbury who acted for me is not around. Do I pay?

First contact HMLR to make sure that this person is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Woodbury conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I own a basement flat in Woodbury, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Woodbury with an extended lease are worth £206,000. The average or mid-range amount of ground rent is £45 levied per year. The lease ceases on 21st October 2090

With just 67 years left to run we estimate the premium for your lease extension to span between £10,500 and £12,000 plus plus your own and the landlord's "reasonable" 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 comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.

What is the reason for my property lawyer requiring a list of items of ID before they can proceed with selling or buying a property in Woodbury?

Woodbury lawyers are obliged by the Law Society, Solicitors Regulation Authority, HMLR and current AML Regulations to record that the have verified the identity of their clients. It will also be a condition of your mortgage offer. In addition they have to complete various forms, particularly those relating to SDLT and need to have information such as your full names, NI number and date of birth.