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Ready to buy a new home in Lydney? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Lydney conveyancing at risk of delay or failure.

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Recently asked questions about conveyancing in Lydney

I selected a high street lawyer for my conveyancing in Lydney recently. After carefully reading the Ts and Cs I noteI am on the hook for charges even if the sale aborts. Should I ditch them and choose an internet conveyancing company advertising no completion no charge conveyancing in Lydney?

Generally there is a compromise along the lines that if "No Sale No Fee" is offered then the fee levels will generally be higher to counteract those transactions that do not go ahead. Please beware that such promotions rarely cover expenditure for example Lydney conveyancing search expenses.

When can the exchange of contracts take place for residential conveyancing in Lydney and do I need to attend the conveyancers office?

Where you are in close proximity to our conveyancing solicitors in Lydney you are welcome to attend to sign contracts. That being said, the law practices we recommend offer countrywide coverage for conveyancing and give just as comprehensive and professional a job for you when communicating with you by post or email. The signing of the sale agreement is not when everything is set in stone. A signed contract is just a prerequisite for the conveyancer to address the formalities at the appropriate time, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Lydney)to be in the office at the appropriate time.

My wife and I purchased a terraced Victorian property in Lydney. Conveyancing practitioner acted for me and Nottingham Building Society. I did a free Land Registry search last week and there are two entries: the first freehold, another for leasehold with the exact same address. I thought I was buying a freehold how can I check?

You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Lydney and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the situation with the conveyancing lawyer who conducted the conveyancing.

Yesterday I discovered that there is a flying freehold element on a house I have offered on last month in what was supposed to be a straight forward, no chain conveyancing. Lydney is where the house is located. Can you offer any assistance?

Flying freeholds in Lydney are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Lydney you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lydney 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 own a leasehold house in Lydney. Conveyancing and Platform Home Loans Ltd mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Lydney who acted for me is not around. Any advice?

First contact the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Lydney conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I acquired a studio flat in Lydney, conveyancing having been completed 3 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Lydney with a long lease are worth £191,000. The ground rent is £55 yearly. The lease ends on 21st October 2078

With only 53 years left to run the likely cost is going to be between £27,600 and £31,800 plus legals.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.

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Find out more about how flying freehold can affect your the value of a property.