My best friend’s dad is a conveyancing practitioner. I expect that I will be offered friends and family rates for conveyancing, However if that does not come materialise, what kind of costs would I typically be looking at for conveyancing in Lancaster?

It’s advisable to get two or three conveyancing quotes. Do use our comparison tool on this site. The estimates will vary but the service one can expect are distinct between conveyancers as is true with most professions.

It is 10 years ago since I purchased my property in Lancaster. Conveyancing lawyers have just been instructed on the sale but I can't track down my deeds. Is this a major issue?

Don’t worry too much. Firstly there is a possibility that the deeds will be kept by the mortgage company or they could be in the possession of the conveyancers who handled your purchase. Secondly the chances are that the land will be recorded at the land registry and you will be able to prove you own the property by your conveyancing lawyers acquiring up to date copy of the land registers. The vast majority of conveyancing in Lancaster involves registered property but in the unlikely event that your property is not registered it adds to the complexity but is not insurmountable.

How does conveyancing in Lancaster differ for new build properties?

Most buyers of new build premises in Lancaster approach us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is built. This is because builders in Lancaster usually purchase 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 conveyancers 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 Lancaster or who has acted in the same development.

I've recently found out that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a simple, chain free conveyancing. Lancaster is where the house is located. Is there any advice you can impart?

Flying freeholds in Lancaster are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Lancaster you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lancaster may ascertain 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.

I am a negotiator for a long established estate agent office in Lancaster where we see a few leasehold sales put at risk due to leases having less than 80 years remaining. I have been given inconsistent advice from local Lancaster conveyancing solicitors. Please can you confirm whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

I invested in buying a studio flat in Lancaster, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Lancaster with an extended lease are worth £227,000. The ground rent is £50 yearly. The lease terminates on 21st October 2096

With 72 years left to run we estimate the premium for your lease extension to range between £9,500 and £11,000 as well as professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional 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 seeking the advice of a professional.