I was recommended to a solicitor who has given a fee estimate £995 for leasehold conveyancing in Henley On Thames. I’m selling a modern property for £150,000. Are these conveyancing fees excessive? Is it in excess of the average fee for conveyancing in Henley On Thames?

The charges are a little high. If you shop around you may be able to get the conveyancing a bit cheaper by perhaps £125. That being said, you maycome to rue opting for an an unknown solicitor. If is important to enquire that the solicitor can represent your bank. Do employ our comparison tool to get a quote a Henley On Thames conveyancing practice on the lender’s conveyancing panel which can often include conveyancing solicitors in Henley On Thames.

Should commercial conveyancing searches reveal proposed roadworks that may affect a commercial premises in Henley On Thames?

Many commercial conveyancing solicitors in Henley On Thames will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in sourcing accurate data on highways that impact buildings and development assets in Henley On Thames. The search result sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Henley On Thames.

For each commercial conveyancing transaction in Henley On Thames it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately could cause delays to Henley On Thames commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not carried out for residential conveyancing in Henley On Thames.

How does conveyancing in Henley On Thames differ for newly converted properties?

Most buyers of new build property in Henley On Thames approach us having been asked by the seller to sign contracts and commit to the purchase even before the property is constructed. This is because new home sellers in Henley On Thames typically acquire 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 Henley On Thames or who has acted in the same development.

I am looking at a couple of apartments in Henley On Thames both have approximately 50 years unexpired on the lease term. Do I need to be concerned?

There is no doubt about it. A leasehold flat in Henley On Thames is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the marketability of the premises. For most purchasers and banks, leases with less than eighty years become less and less attractive. 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 premises 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 Henley On Thames 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 am the registered owner of a 1 bedroom flat in Henley On Thames, conveyancing having been completed in 2002. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Henley On Thames with an extended lease are worth £185,000. The ground rent is £65 per annum. The lease finishes on 21st October 2085

With 60 years remaining on your lease we estimate the premium for your lease extension to range between £20,000 and £23,000 as well as 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 detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.

Finally our conveyancing in Henley On Thames completes on Friday, yet the sellers I am buying off wants to vacate the next day at at 2pm. Can I agree to such a idea?

You can't complete on a Saturday due to the bank systems aren't working.