What is the first thing I need to know regarding purchase conveyancing in Ashby de la Zouch?

Not many law firms shout this from the rooftops but conveyancing in Ashby de la Zouch or throughout Leicestershire is an adversarial experience. In other words, when it comes to conveyancing there is plenty of room for conflict between you and other parties involved in the home moving process. E.g., the vendor, selling agent and on occasion a mortgage company. Choosing a solicitor for your conveyancing in Ashby de la Zouch should not be taken lightly as your conveyancer is your adviser, and is the ONE party in the transaction whose role it is to look after your best interests and to protect you.

There is a definite ongoing adversarial element to conveyancing- someone must be at fault for the process taking so long. We recommend that you should always trust your solicitor above the other parties when it comes to the legal assignment of property.

I am currently in the process of buying my council flat in Ashby de la Zouch. I have a mortgage offer with Clydesdale. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?

It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Clydesdale, you will need to appoint a solicitor on the Clydesdale conveyancing panel.

About to purchase flat in Ashby de la Zouch. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Skipton conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.

They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Ashby de la Zouch property lawyer is on the Skipton conveyancing panel.

I had an offer accepted on a property in Ashby de la Zouch on 17/12/2024, valuation was booked five days after, received a clean bill of health. Solicitor instructed, so the only thing outstanding was my mortgage offer. Having made daily calls to Barclays and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Barclays conveyancing panel. Are Barclays entitled to hold back the Mortgage pending the lawyer being on the approved list?

Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Barclays to deal with your lawyer's application to be on the Barclays conveyancing panel. There's no guarantee that your solicitor will be accepted.

Will my solicitor be making enquiries regarding flooding as part of the conveyancing in Ashby de la Zouch.

Flooding is a growing risk for solicitors carrying out conveyancing in Ashby de la Zouch. Some people will acquire a property in Ashby de la Zouch, fully aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or dispose of the premises. There are steps that can be taken during the course of a property purchase to forewarn the buyer.

Conveyancers are not qualified to give advice on flood risk, but there are a numerous checks that may be initiated by the purchaser or by their solicitors which will figure out the risks in Ashby de la Zouch. The standard completed inquiry forms given to a buyer’s solicitor (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the vendor to find out if the property has suffered from flooding. In the event that the property has been flooded in past which is not notified by the vendor, then a buyer could commence a claim for damages resulting from an incorrect reply. A purchaser’s conveyancers will also order an enviro report. This should reveal if there is a recorded flood risk. If so, additional investigations should be initiated.

Taking into account that I will soon spend £400,000 on a house in Ashby de la Zouch I would like to have a conversation with the lawyer about mytransaction prior to appointing the firm. Is this something that you can arrange?

This is something that we encourage - we would be happy to talk to you we do not take any clients on without you first talking to the lawyer who will be carrying out your conveyancing in Ashby de la Zouch.There is no ‘factory style conveyancing’ - every client is an important person, not a case number. The solicitors that we put you in touch with believe that the figure you are quoted for your conveyancing in Ashby de la Zouch should be the figure that you are charged.

I am tempted by the attractive purchase price for a two maisonettes in Ashby de la Zouch both have about forty five years remaining on the leases. Will this present a problem?

There is no doubt about it. A leasehold apartment in Ashby de la Zouch is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the premises. For most buyers and banks, leases with less than 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Ashby de la Zouch conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I own a split level flat in Ashby de la Zouch, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Ashby de la Zouch with a long lease are worth £176,000. The average or mid-range amount of ground rent is £50 levied per year. The lease expires on 21st October 2105

With just 80 years remaining on your lease we estimate the price of your lease extension to range between £8,600 and £9,800 plus professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more detailed investigations. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.