Can your site be used to locate a Conveyancing solicitor in Hungerford even where I’m not buying or disposing of a house, for example where I intend to buy a shop in Hungerford with a mortgage from Virgin Money?

The service is predominantly used to help choose domestic conveyancing solicitors in Hungerford but we have listed towards the bottom of this page a few Hungerford commercial conveyancing firms. You will need to make contact with the solicitors directly to establish if they can also act for Virgin Money

Am I right to be concerned that estate agents that I am dealing with are encouraging me to use an online conveyancing firm as opposed to a local Hungerford conveyancing firm?

As is the case with lots of service providers, often referrals from connections can be very helpful. Yet there are many people with a keen interest in a conveyancing transaction; estate agents, financial adviser and lenders might all put forward conveyancers to select. On occasion these solicitors might be known to one of the organisations as experts in their field, but occasionally there might be a commercial relationship behind the recommendation. You have the right to select your preferred lawyer. Don't forget that some banks specify a panel list of lawyers you are obliged to use for the mortgage aspect of your home move.

My step-father has suggested that I use his conveyancing solicitors in Hungerford. Do I take his recommendation?

No doubt it’s preferable to choose a conveyancing practitioner is to get feedback from friends or relatives who have actually previously instructed the solicitor that you are considering.

I am tempted by the attractive purchase price for a couple of flats in Hungerford which have about fifty years remaining on the lease term. Do I need to be concerned?

There is no doubt about it. A leasehold apartment in Hungerford is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the salability of the premises. The majority of buyers and mortgage companies, leases with less than 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises 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 Hungerford 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. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new 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 acquired a ground floor flat in Hungerford, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Hungerford with an extended lease are worth £216,000. The ground rent is £50 invoiced annually. The lease comes to an end on 21st October 2093

You have 68 years left to run we estimate the premium for your lease extension to span between £9,500 and £11,000 plus costs.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.

I pay a maintenance fee for my flat in Hungerford. As a result of flawed financial planning I slipped behind with remittance. The managing agents agreed a settlement schedule but there is still around £1750 outstanding at the current time.

I want to dispose of the property and I am concerned this could hold me back if I have to discharge the amount due now. I'd like to sell up and subsequently repay the debt from the completion monies - is this practicable?

Do check with the solicitor handling your Hungerford conveyancing but it may be possible to agree for the arrears to be transferred to the purchasers. The sale price due would be adjusted to reflect the amount of debt they take on. They would then deal with the arrears once they are the owners.