Me and my fiancee are buying our first property. Our lawyer has calledto check if we wish to take out supplemental conveyancing searches. Unfortunately we in the dark as to what's appropriate for conveyancing in Blakenhall

The quantity and type of Blakenhall conveyancing searches should be triggered based primarily on the premises, the location, the likelihood of any of these risks, your knowledge of the area and risks, your general attitude to risk. What is important is that you properly understand what information the searches could give you. Then you can decide if you personally think you need that search. If in doubt, ask the conveyancing practitioner to offer guidance.

Do banks and building societies provide you with an approved list of Blakenhall conveyancing solicitors? How do you know who is on the Barclays conveyancing panel?

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

Just had an offer accepted on a new build apartment in Blakenhall. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.

Set out below are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Blakenhall

Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? There must be mutual enforceability of lessee’s covenants. Please supply a car parking plan. Please confirm the Lease plans are architect prepared. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.

Is it possible to transfer to a new solicitor as I have to select a firm on the Birmingham Midshires conveyancing list. I was using a family conveyancing solicitor in Blakenhall five minutes from me but the firm is not approved by Birmingham Midshires

It would be our pleasure to help you select a conveyancing solicitor in Blakenhall on the Birmingham Midshires panel. Please note that the conveyancers that we on the directory do not pay us commission if you instruct them and are under regulation of the Solicitors Regulation Authority who regulate all conveyancing solicitors in Blakenhall. In utilising the find a conveyancing solicitor tool on this site, you can scrutinise fees for conveyancing solicitors in Blakenhall and beyond.

I am looking at a two apartments in Blakenhall which have approximately fifty years remaining on the lease term. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold flat in Blakenhall is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the value of the property. The majority of buyers and mortgage companies, leases with less than eighty 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 premises 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 property 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 Blakenhall 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.

Leasehold Conveyancing in Blakenhall - Sample of Questions you should consider Prior to Purchasing

Does the lease have onerous restrictions? Where a Blakenhall lease has no more than eighty years it will have adverse implications on the marketability of the property. Check with your bank that they are willing to lend given the lease term. Leases with less than 80 years remaining means that you will probably have to extend the lease at some point and it is worth finding out what this would cost. For most Blakenhalllease extensions you will be be obliged to have been the owner of the premises for 24 months before you are entitled to exercise a lease extension.