Having been referred to your web site we were going to appoint conveyancing solicitor in Dunholme listed on your site but have come across alternative costs illustrations on the internet seem less pricey – how come?

You can find hundreds of conveyancers offering what appear to be the cheapest conveyancing in Dunholme. Our advice is to think twice as to how much you respect your own move to you are willing to be penny wise pound foolish in relation to the quality of the conveyancing. Many of them highlight a budget quote as a headline but plant additional costs in the fine print..

My solicitor has identified a a legal deficiency with the lease for the property we are purchasing in Dunholme. The other side have suggested defective title insurance as a solution. We are content with insurance and will pay for it. Our conveyancing practitioner says that he must check that the bank is happy with this solution. Are we the client or is the mortgage company ?

The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the lender are the client. Your property lawyer must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.

I am the registered owner of a freehold premises in Dunholme yet pay rent, why is this and what is this?

It’s unusual for properties in Dunholme and has limited impact for conveyancing in Dunholme 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 many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.

Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.

Should my conveyancer be making enquiries concerning flooding as part of the conveyancing in Dunholme.

Flooding is a growing risk for lawyers dealing with homes in Dunholme. There are those who purchase a house in Dunholme, fully aware that at some time, it may be flooded. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.

Solicitors are not best placed to impart advice on flood risk, but there are a numerous searches that may be initiated by the buyer or on a buyer’s behalf which should give them a better appreciation of the risks in Dunholme. The conventional set of property information forms given to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a standard inquiry of the owner to find out if the premises has suffered from flooding. If the premises has been flooded in past and is not disclosed by the seller, then a purchaser could issue a claim for damages resulting from an misleading response. The buyer’s solicitors should also carry out an enviro search. This will disclose if there is any known flood risk. If so, more detailed investigations should be carried out.

I work for a reputable estate agency in Dunholme where we have experienced a number of flat sales derailed as a result of leases having less than 80 years remaining. I have been given contradictory information from local Dunholme conveyancing solicitors. Can you clarify whether the owner of a flat can start the lease extension process for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

I am the registered owner of a garden flat in Dunholme, conveyancing formalities finalised 9 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Dunholme with a long lease are worth £255,000. The average or mid-range amount of ground rent is £45 per annum. The lease ends on 21st October 2097

With 73 years left to run the likely cost is going to range between £8,600 and £9,800 plus legals.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.