Me and my fiancee are purchasing our first property. Our property lawyer has e-mailedto ask if we would like to order extra conveyancing searches. Unfortunately we are clueless as to what's necessary for conveyancing in Woodley

The number and type of Woodley conveyancing searches depends primarily on the premises, the location, the probability of any of these risks, your familiarity of the area and risks, your overall appetite to risk. What is important is that you adequately appreciate what information each search could provide. You may then make a decision if you personally think you need that search. Should you be in doubt, ask your conveyancing practitioner to recommend.

I own a freehold property in Woodley but nevertheless pay rent, why is this and what is this?

It’s unusual for properties in Woodley and has limited impact for conveyancing in Woodley but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.

Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.

My father advised me that in purchasing a property in Woodley there may be a number of restrictions preventing external alterations to a property. Is this right?

We are aware of anumerous of properties in Woodley which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Woodley should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.

I'm in the process of viewing apartments in Woodley and I am now considering a potential offer. Is it too early to have a solicitor in place? I am planning to take a home loan with Co-operative.

You should start requesting conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their contact information on to the EA. Given that you are seeking a mortgage with Co-operative, ask your prospective lawyers if they are on the Co-operative conveyancing panel otherwise they can't do the mortgage legal work.

Kent Reliance have agreed my home loan in principle, my bid on a flat in Woodley has been accepted, what are the next steps?

The property agent will wish to be informed of your conveyancer's details (ensure that the conveyancing practitioners are on the lender’s panel). Telephone Kent Reliance or the financial adviser and finalise any appropriate forms. Kent Reliance will sellect a valuer who will get in contact with the estate agent or owners to schedule a time for the valuation to happen. Once conducted (assuming no problems) it takes about a fortnight for the mortgage offer to be issued. Kent Reliance will issue the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Woodley.

I'm converting the mortgage on my existing house to a BTL mortgage with Leeds Building Society and I will use the ballance of the raised equity as a deposit on further property. The area we are looking at is Woodley. Will your lawyers be able to act for both sets of banks and link together the transactions?

Do use our search tool on this page to ensure that the solicitors are approved by both banks. Assuming that they are your conveyancer should be able to connect the two transactions but you should talk with you conveyancer and make clear your desired outcome and needs.

I am tempted by the attractive purchase price for a couple of maisonettes in Woodley both have approximately fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?

A lease is a right to use the premises for a prescribed time frame. As the lease shortens the value of the lease reduces and it becomes more expensive to acquire a lease extension. For this reason it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this area.

Leasehold Conveyancing in Woodley - A selection of Questions you should ask before buying

Please note that where the lease has no more than eighty years it will impact the salability of the apartment. Check with your bank that they are happy with remaining years on the lease. A short lease means that you will almost definitely have to extend the lease sooner rather than later and you need to have some idea of how much this would cost. For most Woodleylease extensions you will be be obliged to have owned the residence for two years before you are legally able to carry out a lease extension. Is the freehold reversion owned jointly by the leaseholders?