Can the conveyancing solicitors that you recommend execute attended exchange conveyancing in Farnworth?

We do have a number of conveyancing specialists who can conduct attended exchanges. Do contact us to obtain a fee calculation and details as to dates.

Do the Building Society Association intend to launch a search tool with a view to to identify practices on the Loughborough BS conveyancing panel for example in Farnworth?

We are not aware of any plans on the part of the BSA to develop such a search facility.

three months have elapsed since my purchase conveyancing in Farnworth concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. 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 property 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 Farnworth differ for newly converted properties?

Most buyers of new build property in Farnworth come to us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because house builders in Farnworth usually purchase the site, 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 property lawyers 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 accustomed to new build conveyancing in Farnworth or who has acted in the same development.

I am attracted to a couple of flats in Farnworth both have about 50 years unexpired on the lease term. should I be concerned?

A lease is a right to use the property for a prescribed time frame. As the lease shortens the saleability of the lease decreases and results in it becoming more costly to extend the lease. For this reason it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease extension can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this area.

I own a studio flat in Farnworth, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Similar properties in Farnworth with an extended lease are worth £195,000. The average or mid-range amount of ground rent is £45 levied per year. The lease comes to an end on 21st October 2087

With just 63 years remaining on your lease the likely cost is going to be between £16,200 and £18,600 plus professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.