IfI was to purchase a freehold housein Broadstone mortgage fee and have no survey and no local authority searches how much would I expect to have to pay for conveyancing in Broadstone?

The only saving you would achieve is the Broadstone conveyancing searches. A conveyancing practitioner is obliged to do the vast majority of work - money laundering, correspond with the vendors solicitor, stamp duty return, register the property etc. You might save a bit for them not having to register a mortgage but it won't be a lot.

What is the first thing I need to know regarding purchase conveyancing in Broadstone?

You may not hear this from too many lawyers but conveyancing in Broadstone or throughout Dorset is an adversarial experience. In other words, when it comes to conveyancing there exists lots of room for confrontation between you and others involved in the ownership transfer. For example, the vendor, estate agent and sometimes your bank. Choosing a solicitor for your conveyancing in Broadstone an important selection as your conveyancer is your adviser, and is the ONE person in the legal process whose role it is to protect your best interests and to protect you.

On occasion a third party with a vested interest may try and sway you that it is in your interests to do things their way. For instance, the selling agent may claim to be helping by suggesting your lawyer is slow. Or your mortgage broker may tell you to do something that is against your lawyers recommendation. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.

Please explain the implications if my lawyer’s firm is suspended from the HSBC Conveyancing panel ahead of completing my conveyancing in Broadstone?

First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.

My friend suggested that where I am purchasing in Broadstone I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?

A search of this type is usually quoted for as part of the standard Broadstone conveyancing searches. It is not a small document of about 40 pages, listing and detailing important information about Broadstone around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Broadstone Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with plans and statistics, Local Amenities and other useful information regarding Broadstone.

I am attracted to a couple of flats in Broadstone both have about 50 years left on the lease term. Will this present a problem?

There are plenty of short leases in Broadstone. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease shortens the value of the lease decreases and it becomes more expensive to extend the lease. This is why it is advisable to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this arena.

I bought a leasehold flat in Broadstone, conveyancing having been completed in 1999. Can you work out an approximate cost of a lease extension? Similar properties in Broadstone with an extended lease are worth £195,000. The average or mid-range amount of ground rent is £45 yearly. The lease finishes on 21st October 2088

With just 63 years unexpired we estimate the premium for your lease extension to range between £16,200 and £18,600 as well as legals.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.