I require expedited conveyancing in Patcham as I am faced with pressure to complete in less than one month. A mortgage is not required. Is it possible to avoid the conveyancing searches to save fees and time?

As you are are a mortgage free purchaser you have the choice not to have searches conducted although no law firm would suggest that you don't. Drawing on our experience of conveyancing in Patcham the following are instances of issues that can appear and adversely affect future mortgageability: Refused Planning Applications, Outstanding Charges, Outstanding Grants, Unadopted Roads,...

It has been 3 months since my purchase conveyancing in Patcham completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

I am buying a new build house in Patcham with a loan from Platform Home Loans Ltd. The sellers would not budge the price so I negotiated 6k of fixtures and fittings instead. The property agent told me not disclose to my lawyer about the extras as it will adversely affect my loan with Platform Home Loans Ltd. Is this normal?.

All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

I am looking at a two maisonettes in Patcham both have in the region of forty five years remaining on the lease term. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold apartment in Patcham is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the marketability of the property. For most buyers and banks, leases with under 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property 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 Patcham 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. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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.

Leasehold Conveyancing in Patcham - A selection of Questions you should ask before buying

How many of the leaseholders are in arrears for their service charge payments? Who manages the building? Plenty Patcham leasehold apartments will have a service bill for the upkeep of the building invoiced on behalf of the management company. Where you buy the flat you will have to pay this charge, usually in instalments during the year. This could vary from two or three hundred pounds to thousands of pounds for buildings with lifts and large communal grounds. In all likelihood there will be a rentcharge for you to pay annual, normally this is not a exorbitant sum, say around £25-£75 but you should to check as occasionally it can be many hundreds of pounds.

I see that you have a search directory identifying solicitors on the bank conveyancing panel. Do Patcham conveyancing companies pay you a referral fee if I appoint them for my own conveyancing?

We are a listing service only for law firms wishing to communicate if they are on the lender conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Patcham.