We are due to exchange on the purchase of a property in Ettington but as a consequence of damage from the recent storms I have was able negotiate compensation from the vendor in the sum of £2k taking the form of a adjustment in the price. This was going to be addressed as part of amending the contract however Coventry BS will not agree to this. Why were they notified?

The lawyer that is on a Coventry BS conveyancing panel is obliged to advise Coventry BS of any changes to the sale price. If you prohibit your property lawyer to report the reduction to Coventry BS then they would have to discontinue acting for you. In addition, Coventry BS and you would have to appoint a new solicitor for your conveyancing in Ettington.

It has been 2 months following my purchase conveyancing in Ettington concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

How does conveyancing in Ettington differ for newly converted properties?

Most buyers of new build property in Ettington come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is constructed. This is because developers in Ettington usually purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Ettington or who has acted in the same development.

I've recently found out that there is a flying freehold element on a property I have offered on last month in what was supposed to be a quick, chain free conveyancing. Ettington is the location of the property. Is there any guidance you can give?

Flying freeholds in Ettington are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Ettington you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ettington may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.

I am employed by a busy estate agency in Ettington where we have witnessed a number of flat sales derailed due to short leases. I have received inconsistent advice from local Ettington conveyancing firms. Could you shed some light as to whether the vendor of a flat can commence the lease extension formalities for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have 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 simultaneously with completion of the sale.

An alternative approach is to extend the lease informally by agreement with the landlord 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.

Ettington Leasehold Conveyancing - A selection of Queries before buying

Does the lease have onerous restrictions? Be sure to discover if there is anything that is prohibited in the lease. By way of example plenty of leases prohibit pets being permitted in certain buildings in Ettington. If you love the flatin Ettington but your cat is not allowed to make the move with you then you have a very difficult decision. For most Ettington leaseholds the outlay for major works tend not to be incorporated into the maintenance charges, although a few managing agents in Ettington ask leasehold owners to contribute towards a reserve fund created for the specific purpose of establishing a fund for major works.