My wife and I are purchasing a flat in Isle Of Wight. I might seem paranoid but how we can trust a lawyer? At some point we will need to put funds into their account. What protection do we have from them run away with our deposit?

Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.

Do I select a Licenced Conveyancer or Solicitor for conveyancing in Isle Of Wight?

There are many registered licenced Conveyancers in Isle Of Wight and Solicitor firms in Isle Of Wight who can help with your conveyancing We would stress that the two are supervised by regulatory bodies with both specialising in the legal aspects of the home buying process. They may both also handle associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.

I am buying a terrace house in Isle Of Wight. The intention is to carry out a loft conversion at the house.Will the conveyancing process involve enquiries to determine if these works are prohibited?

Your property lawyer will review the deeds as conveyancing in Isle Of Wight can on occasion reveal restrictions in the title deeds which restrict certain alterations or necessitated the permission of another owner. Certain extensions require local authority planning permissions and approval under the building regulations. Many areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. It would be prudent to check these things with a surveyor before you commit yourself to a purchase.

A relative advised me that if I am purchasing in Isle Of Wight I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?

This is a search is usually included in the estimate for your Isle Of Wight conveyancing searches. It is not a small report of about 40 pages, listing and setting out important information about Isle Of Wight around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Isle Of Wight Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data concerning Isle Of Wight.

I've recently found out that there is a flying freehold element on a property I put an offer in two weeks back in what was supposed to be a straight forward, no chain conveyancing. Isle Of Wight is the location of the property. Is there any guidance you can give?

Flying freeholds in Isle Of Wight are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Isle Of Wight you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Isle Of Wight may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £125,000 flat in Isle Of Wight in just under a week. The freeholder has quoted £408 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Isle Of Wight?

Isle Of Wight conveyancing on leasehold flats more often than not necessitates the purchaser’s lawyer sending enquiries for the landlord to address. Although the landlord is not legally bound to address such questions most will be content to assist. They may levy a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some transactions it is in excess of £800. The administration charge demanded by the landlord must be sent together with a summary of rights and obligations in respect of administration charges, without which the charge is technically not due. Reality however dictates that you have little choice but to pay whatever is demanded should you wish to complete the sale of your home.

I acquired a 2 bed flat in Isle Of Wight, conveyancing formalities finalised in 2009. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Isle Of Wight with an extended lease are worth £216,000. The ground rent is £50 invoiced every year. The lease ends on 21st October 2093

With 69 years left to run we estimate the price of your lease extension to range between £9,500 and £11,000 as well as costs.

The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.

I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the mortgage company conveyancing panel. My lawyer has said that they are on the bank approved panel. How can I be sure given that they are not listed on your directory?

Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the bank conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the lender solicitor panel.