I am buying an apartment in Holbrook. My Solicitor is not on the bank conveyancing list. Can I still retain my Holbrook conveyancing solicitor even though they are excluded from the mortgage company panel of approved conveyancing solicitors?

Your options include

• Complete the deal with your existing Holbrook conveyancer but your lender will no doubt instruct a lawyer on their conveyancing panel. The net result is additional charges together with probable interruption.
• Get a fresh conveyancer to act in the purchase, obviously checking they are on the mortgage company conveyancing panel.
• Convince your lawyer to do everything within their powers to get listed on the bank’s conveyancing panel

I need some fast conveyancing in Holbrook as I am under a deadline to sign on the dotted line inside 2 weeks. Thankfully I do not require a mortgage. Can I avoid the conveyancing searches to save money and time?

As you are not getting a mortgage you have the choice not to have searches conducted although no lawyer would recommend that you don't. Drawing on our experience of conveyancing in Holbrook the following are examples of issues that can show up and adversely affect the marketability of the property: Refused Planning Applications, Overdue Fees, Outstanding Grants, Railway Schemes,...

The estate agent has sent us the confirmation of our purchase of a new build flat in Holbrook. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.

Set out below are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Holbrook

Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. There must be mutual enforceability of lessee’s covenants. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?

Jane (my partner) and I may need to rent out our Holbrook ground floor flat for a while due to a new job. We used a Holbrook conveyancing firm in 2004 but they have closed and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?

Notwithstanding that your last Holbrook conveyancing solicitor is not around you can review your lease to see if you are permitted to let out the premises. The accepted inference is that if the lease is non-specific, subletting is permitted. There may be a precondition that you need to obtain consent via your landlord or other appropriate person prior to subletting. The net result is you not allowed to sublet in the absence of prior consent. Such consent must not not be unreasonably refused ore delayed. If the lease prohibits you from subletting the property you will need to ask your landlord if they are willing to waive this restriction.

Leasehold Conveyancing in Holbrook - A selection of Queries Prior to Purchasing

Most Holbrook leasehold flats will incur a service bill for the upkeep of the block invoiced on behalf of the management company. Where you buy the property you will have to meet this contribution, normally quarterly during the year. This can differ from a few hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a ground rent for you to pay annual, this is usually not a large amount, say approximately £25-£75 but you need to enquire as sometimes it can be surprisingly expensive. Does the lease include onerous restrictions? Who manages the building?

We own a leasehold flat in Holbrook. Conveyancing was completed in 2011. I have been told that I should not let the lease length fall too low. What is the reasoning?

Holbrook leasehold properties are for a set period - normally 99 years when they commenced. However many flats in Holbrook were built or converted 30 or more years ago and so these leases now have under 80 years left to run. This may sound like a long time but Banks, Building Societies and other mortgage companies generally need leases to have a minimum of 75 years left to be mortgageable. Accordingly when you come to sell the property you will need to extend the term of your lease if you are nearing seventy five years. To optimize the marketability of your property you should be considering whether or not to extend your lease well in advance of selling the property. Please note that there are strong financial reasons to taking action before the lease hits eighty years as when the lease falls below 80 years the premium you have to pay to extend starts to escalate.