My wife and I are soon to complete on the purchase of a property in Felixstowe but as a result of wreckage from some water damage at the property I have was able negotiate compensation from the vendor in the sum of £2k taking the form of a deduction in the price. I had intended this to be dealt with as part of amending the contract but RBS will not permit this. Why were they informed?

Any solicitor that is on a RBS approved list is duty bound to inform RBS of any amendments to the sale price. If you prohibit your solicitor to disclose the reduction to RBS then they would have to discontinue acting for you. In addition, RBS and you would have to appoint a new property lawyer for your conveyancing in Felixstowe.

I am purchasing a detached bungalow in Felixstowe. The intention is to carry out a loft conversion at the house.Will legal investigations on the property include investigations to ascertain if these alterations are allowed?

Your property lawyer should review the deeds as conveyancing in Felixstowe will on occasion reveal restrictions in the title documents which restrict categories of changes or necessitated the consent of a 3rd party. Many works require local authority planning permissions and approval in compliance with building regulations. Many areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. It would be sensible to check these issues with a surveyor ahead of any purchase.

When it comes to lenders such as Nationwide, do Felixstowe property lawyers have to pay an annual charge to be on the list of approved solicitors?

We are unaware of any bank fees to be on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel application.

My wife and I are spending time viewing apartments in Felixstowe and I am now considering a potential offer. Is it wise to have a conveyancer on ‘stand by’? I will be getting a home loan with Santander.

You should start obtaining conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the estate agent. Given that you are obtaining a mortgage with Santander, make sure you remember to check that your lawyer is on the Santander conveyancing panel.

In scouring the world wide web for the words on line conveyancing in Felixstowe it brings up numerous solicitorsin the vicinity. How do I determine which is the suitable conveyancing solicitor for me?

The preferential way of seeking the right conveyancer is through a personal recommendation, so enquire of colleagues and family who have acquired a property in Felixstowe or a respected estate agent or financial adviser. Costs for conveyancing in Felixstowe vary, so it's advisable to request at least four fee estimates from different solicitors. Make sure that you know that the charges are guaranteed not to to be inflated.

I am looking at a two apartments in Felixstowe which have in the region of forty five years left on the lease term. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold flat in Felixstowe is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the value of the property. For most purchasers and mortgage companies, leases with less than eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property 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 Felixstowe 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. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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.

I bought a 2 bed flat in Felixstowe, conveyancing was carried out 8 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Felixstowe with a long lease are worth £206,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease comes to an end on 21st October 2091

With only 66 years remaining on your lease the likely cost is going to span between £11,400 and £13,200 as well as costs.

The figure 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 detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.

How much experience do your Felixstowe conveyancing solicitors have with Help To Buy, Shared Equity and similar schemes?

Felixstowe conveyancing lawyers help thousands of buyers move home every year and helped plenty of clients through the Help To Buy scheme. The chances are that whatever makes your case unique Felixstowe conveyancers have worked on recent similar matters.